Tetra Tech gets USD-400m clean energy deal from USAID

Jun 11, 2013 - US firm Tetra Tech Inc (NASDAQ:TTEK) has secured a USD-400-million (EUR 301m) deal from the US Agency for International Development (USAID) for clean energy work in five "critical priority countries" -- Afghanistan, Iraq, Pakistan, South Sudan and Yemen.

Five companies, among which two small businesses, will share in the contract, which has a five-year ordering period and indefinite delivery and quantity parameters, Tetra Tech said Monday.

Under the deal, the engineering and consulting services company will provide technical support for the development of USAID's clean energy programme in the five specified countries. More countries could be added at a later stage, according to the announcement.

In particular, the scope of Tetra Tech's work will include designing clean energy strategies, helping to promote private sector investment in clean energy and evaluating the environmental implications of energy services. The company will also support the USAID efforts in reducing global warming by stimulating the use of renewable energy and energy efficient technologies and carbon sequestration. There are also provisions for improving the energy sector capacity of national or local governments to prepare for natural or man-made disasters.

(USD 1.0 = EUR 0.754)

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