Quanta Services, Inc. and Northeast Utilities today announced the completion of a master services agreement between the two companies, through which Quanta will provide transmission infrastructure services related to NU's transmission build-out. The anticipated value of the contract is $750 million over six years beginning in 2008 and extending through 2013. Quanta and NU announced a memorandum of understanding for this work on November 5, 2007.
"Through our ongoing relationship with Quanta Services, we will have continued access to a trained, qualified workforce to build the transmission infrastructure required to meet energy demand in New England," said Charles W. Shivery, chairman, president and chief executive officer of Northeast Utilities. "Quanta is currently constructing the overhead portion of NU's Middletown-Norwalk transmission project, which is ahead of schedule and has maintained an excellent safety record. This arrangement provides for $750 million of our labor needs over the next six years. Quanta shares our commitment to strengthening electric reliability and reducing costly congestion in this region through upgrading the transmission infrastructure."
"Quanta and NU's common commitment to reliable power delivery is strongly rooted in maximizing quality, safety and efficiency while meeting the workforce and infrastructure requirements demanded by the various transmission projects throughout New England," said John R. Colson, chairman and chief executive officer of Quanta Services. "Our ongoing work continues to strengthen the reliability of the power grid in New England, improve the system's efficiency and help minimize congestion."