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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
GTA 6 release 2025: Is it game on for the Take Two Interactive Software stock?
TTwo’s earnings report today is expected to confirm the release date for GTA 6. Can investors cash in on what could be the biggest launch in entertainment in over a decade?
By Kalpana Fitzpatrick Published
-
Three stocks in recruitment companies with promising recovery plays
Recruitment agency Robert Walters and its peers are struggling, but now's the time to buy, says Rupert Hargreaves
By Rupert Hargreaves Published