Tetra Tech Wins $29.7M USAID Renewable Energy Contract
Tetra Tech, Inc. (NASDAQ: TTEK) 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).
Benzinga · 08/18/2020 23:45
Tetra Tech, Inc. (NASDAQ: TTEK) 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."