Wood Group wins California contract extension
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.
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
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.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
MPs warn over Lifetime ISAs which could leave savers out of pocket
The Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”
-
FCA reveals 'once in a generation' advice changes - what the reforms mean for you
Consumers to get free access to financial advice type help for pensions and investment following proposed changes from the regulator