Global Power Equipment Group said on Tuesday that it has renewed contracts with the Tennessee Valley Authority (TVA) and Energy Northwest, and has altered its ties with Southern Company, Global Power said on Tuesday.
Southern Company recently told Global Power that it would not extend the terms of its existing maintenance and modification contract with Global's subsidiary, Williams Industrial Services Group. Global Power, however, will continue to provide project-based services to Southern Company.
"While we are understandably disappointed with the loss of Southern Company's long-standing maintenance and modification service contract, we appreciate the continued work on capital projects our Nuclear Services group has been providing Southern," Terence Cryan, Global Power's president and CEO, said. "Our focus has been on diversifying our revenue sources and, in effect, this change brings serious clarity to that goal."
Global Power reached a three-year contract extension with the TVA, valued at approximately $565 million, through GUBMK Constructors, a joint venture owned by the Worley Parsons Group, AECOM and Global Power's wholly-owned subsidiary, Williams Industrial Services Group.
Energy Northwest also has extended its contract with Global Power through June 2018, and it will facilitate the continuation of site services to the Columbia Generating Station. Under this extension, Global Power will provide maintenance and modification services and will facilitate the plant's refueling outage that will take place in June 2017.
"We operate in a highly competitive environment for our power services," Cryan said. "We believe our success in maintaining our leadership position is a direct reflection of our team and its effective execution. We appreciate the opportunity to serve operators of nuclear power facilities with the dedicated focus and responsiveness that our customers have come to expect from us."
Global Power Equipment Group announces renewed, altered service contracts
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Tennessee Valley Authority 400 W Summit Hill Dr Knoxville, TN 37902
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