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Pike Awarded $275 Million EPC Transmission Project For SCANA Corporation

Stocks in this article: PIKE SCG

MOUNT AIRY, N.C., March 2, 2011 /PRNewswire/ -- Pike Electric Corporation (NYSE: PIKE), a leading national energy solutions provider, announced today that SCANA Corporation has awarded Pike an engineering, procurement, and construction (EPC) contract for approximately 250 miles of new 230kV transmission lines associated with the expansion of the V.C. Summer Nuclear Station in South Carolina.

These lines will support the two nuclear power units being added by South Carolina Electric & Gas Company (SCE&G), principal subsidiary of SCANA Corporation (NYSE: SCG), and the South Carolina Public Service Authority (Santee Cooper), a state-owned electric and water utility in South Carolina. The new units, known as V.C. Summer 2 and 3, are scheduled for completion in 2016 and 2019. The station began commercial operation January 1, 1984 and this construction marks one of the first U.S. nuclear plants to add reactors in 20 years.

Pike's ability to provide a full portfolio of services including siting, permitting, engineering, procurement and construction was a key consideration for SCE&G in awarding the contract.  In addition, because these lines will be built on existing rights-of-way, Pike's experience and safety record in working with energized lines and equipment was another factor in SCE&G's selection.

"This project demonstrates the full spectrum of energy services Pike now offers to our customers and the industry. We are extremely proud to partner with SCE&G on this landmark project," said Eric Pike, Chairman and CEO of Pike. "The engineering for this project begins immediately utilizing Pike's Charlotte office, and construction is expected to be completed by the end of 2014 for Unit 2 and the end of 2018 for Unit 3."

About SCE&G

South Carolina Electric & Gas Company is a regulated public utility engaged in the generation, transmission, distribution and sale of electricity to approximately 661,000 customers in South Carolina. The company also provides natural gas service to approximately 314,000 customers throughout the state. More information about SCE&G is available at www.sceg.com.  

About SCANA Corporation

SCANA Corporation, a Fortune 500 company headquartered in Columbia, South Carolina, is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses in South Carolina, North Carolina and Georgia. Information about SCANA Corporation and its businesses is available on the Company's Web site at www.scana.com.

About Pike Electric

Pike Electric is a leading provider of energy solutions to over 200 investor-owned, municipal and cooperative utilities in the United States. Our comprehensive services include siting, permitting, engineering design, installation, maintenance and repair of power delivery systems, including renewable energy projects. Our common stock is traded on the New York Stock Exchange under the symbol PIKE. For more information, visit us online at www.pike.com.

SOURCE Pike Electric Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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