Balfour Beatty subsidiary wins contract for US power plant

Balfour Beatty's consulting and engineering subsidiary Parsons Brinckerhoff has won a contract to build a power plant in Delaware, US.

Balfour Beatty's consulting and engineering subsidiary Parsons Brinckerhoff has won a contract to build a power plant in Delaware, US.

Parsons Brinckerhoff, in a joint venture with Kvaerner, will work on the engineering, procurement and construction of the Garrison Energy Center, a 309MW combined cycle gas-fired power plant.

The US company will be responsible for the design and procurement of plant equipment and commissioning, while Kvaerner will lead the venture and perform the construction of the facility.

Ian Tyler, Balfour Beatty Chief Executive, said: "The award of this contract to design and build the Garrison Energy Center aligns with our strategy to focus on the power sector.

"As the industry continues to shift to cleaner burning natural gas, we anticipate a significant number of gas-fired power plant opportunities, especially in North America over the next decade, and we are well positioned to take advantage of these opportunities."

The plant will comprise of combined-cycle technology with advanced environmental controls.

Construction is set to begin sometime early this year with completion expected by mid-2015.

Shares jumped 0.49% to 289.60p at 8:35 Monday.

RD

Recommended

The top funds to invest in
Funds

The top funds to invest in

Investors continue to favour passive funds in April though figures reveal an actively managed money market fund also caught their eye. We look at wher…
3 May 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
20 Apr 2023
Best junior stocks and shares ISA platforms
Isas

Best junior stocks and shares ISA platforms

A junior stocks and shares ISA is a great way to save for your child tax-efficiently. But it can be confusing deciding which investment platform to ch…
28 Mar 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023

Most Popular

June’s NS&I Premium Bond prize draw - are you this month’s millionaire?
Savings

June’s NS&I Premium Bond prize draw - are you this month’s millionaire?

Two fortunate NS&I Premium Bond winners are now millionaires. Find out here if you’re one of them.
1 Jun 2023
The best one-year fixed savings accounts - June 2023
Savings

The best one-year fixed savings accounts - June 2023

You can now earn 5% on 1 year fixed savings accounts - the best rate seen in 14 years. We have all the latest rates available now.
2 Jun 2023
The top healthcare funds to buy
Investments

The top healthcare funds to buy

Increasingly rapid progress in drugs and healthcare technology makes these trusts top tips, says Max King.
1 Jun 2023