Tetra Tech, Inc. (TTEK) - Get Tetra Tech, Inc. Report announced today that the U.S. Agency for International Development (USAID) awarded the Company a five-year, $29.7 million single-award contract for the continuation of its Scaling Up Renewable Energy project (SURE II).
Recent advancements in renewable energy technologies and business models have made solar and wind power viable options for emerging economies. Battery storage prices also have declined, providing opportunities to meet demand through innovative, market-driven options.
Tetra Tech worked with USAID and 20 partner countries under the previous SURE I contract to integrate new technologies, promote competitive procurement of renewable energy generation, support development of progressive energy policies, and advance gender equality in the energy sector.
Under SURE II, Tetra Tech will provide technical services to promote reliable, cost-effective, and environmentally responsible solutions to increase adoption of renewable and advanced energy technologies. Activities may include the creation of programs to integrate renewable energy into existing power grids, and enhancement of national strategic energy planning to capitalize on renewable technologies that increase energy security and reduce costs. Tetra Tech also will support the development of an innovation fund which will attract new and nontraditional partners to scale up the deployment of renewable energy technology.
"Tetra Tech is pleased to support USAID in developing sustainable renewable energy solutions for emerging economies," said Dan Batrack, Tetra Tech Chairman and CEO. "As the top-ranked firm by Engineering News-Record in solar and wind power, Tetra Tech will use its Leading with Science ® approach to help deploy the best technologies, policies and practices to transform the power sector in developing countries."
About Tetra Tech
Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 20,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, infrastructure, resource management, energy, and international development. We are Leading with Science ® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com, follow us on Twitter ( @TetraTech), or like us on Facebook.
Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management's best judgment as to what may occur in the future. However, Tetra Tech's actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company's Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.
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