Engineering firm Wood Group has been awarded a five-year operations and maintenance contract extension by Sacramento Power Authority (SPA) for the operations and maintenance of their SPA CoGen III facility in California.
The extension, worth $25m, brings the life of the contract to a total of 10 years. It follows a similar operations and maintenance contract extension for the Sacramento Municipal Utility District Financing Authority (SMUDFA) Cosumnes power plant in 2011.
Under the terms of the agreement with SPA, Wood Group is responsible for the care and custody of the plant, including daily operations and routine maintenance. The plant provides power and steam to the adjacent Campbell's Soup 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
NR
-
Best funds to add to your ISA or SIPP before the BudgetWith Labour expected to increase taxes, ISAs and SIPPs could be a great way to protect yourself from CGT hikes. We look at the best funds to buy now
-
Starling Bank slapped with £29 million fine over ‘shockingly lax’ financial crime controlsThe Financial Conduct Authority has fined Starling Bank £29 million over failings related to financial crime and its financial sanctions screenings
