Tetra Tech Wins USAID Contract to Assist Power Africa
Leading technical services provider, Tetra Tech Inc. (NASDAQ: TTEK) received a contract for providing technical assistance to the Power Africa Transactions and Reform Program which is sponsored by the U.S. Agency for International Development (USAID). The contract – worth $64 million – has a base period of three years and a two-year extension option.
Through the Power Africa technical services contract, Tetra Tech will be assisting the U.S. Government to speed up the generation and transmission of sustainable electric power across various African regions. These include the Sub-Saharan regions of Ethiopia, Ghana, Kenya, Liberia, Nigeria and Tanzania.
Per the contract, Tetra Tech will categorize and devise modern ways to develop small-scale clean energy projects to increase access to rural areas, build a robust pipeline of power generation projects deploying a transaction-based approach, strengthen regulatory and institutional policies and provide direct programmatic support to the Power Africa Coordinator's Office.
Power Africa is an U.S. Government initiative to boost the amount of electricity available in Sub-Saharan Africa through an innovative private-sector model for development. Under the broad umbrella of Power Africa, 12 agencies of the U.S. government are operating and coordinating with multilateral organizations, the African government and the American private sector to ensure cleaner and more efficient electricity generation in Sub-Saharan Africa.
Tetra Tech is a leading provider of services like consulting, engineering and program management. It also supports commercial clients by offering integrated solutions for environmental services, water, energy, infrastructure and natural resources.
Currently, Tetra Tech has a Zacks Rank #3 (Hold). Some better-ranked stocks that warrant a look in the pollution control industry include Fuel-Tech, Inc. (NASDAQ: FTEK), Ingersoll Rand (NYSE: IR) and Nordson Corp. (NASDAQ: NDSN). All these stocks carry a Zacks Rank #2 (Buy).
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