USAID Awards Tetra Tech Additional $84 Million to Expand Power Africa Program

PASADENA, Calif.--(BUSINESS WIRE)--Tetra Tech, Inc. (NASDAQ: TTEK) announced today that the United States Agency for International Development (USAID) has awarded the Company an additional $84 million to its current $64 million contract under the U.S. Government-led Power Africa partnership.

“The Tetra Tech team is tracking a pipeline of more than 140 active energy transactions at various stages of development, representing more than 20,000 MW of potential generation capacity in sub-Saharan Africa”

Two out of three people in sub-Saharan Africa do not have access to power. Power Africa, launched by President Obama in 2013, aims to connect the African population to the electricity grid and provide access to those who live beyond the grid. Electricity access in sub-Saharan Africa will be expanded to 60 million homes and businesses by adding more than 30,000 megawatts (MW) of cleaner, more efficient electricity generation capacity by the year 2030.

Under its Power Africa contract, Tetra Tech is advancing a robust pipeline of power generation projects to financial close, designing innovative approaches to develop small-scale clean energy projects to increase access in rural areas, supporting the strengthening of regulatory and institutional policies, and providing direct programmatic support to the Power Africa Coordinator’s Office.

“The Tetra Tech team is tracking a pipeline of more than 140 active energy transactions at various stages of development, representing more than 20,000 MW of potential generation capacity in sub-Saharan Africa,” said Dan Batrack, Tetra Tech Chairman and CEO. “We look forward to continuing to support USAID to reach Power Africa’s goal of doubling access to electricity in sub-Saharan Africa.”

publish - May 19, 2016

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