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August 01:
Source: http://enr.construction.com/infrastructure/power_industrial/2015/0731-pseg-awards-estimated-900m-maryland-power-plant-job-to-snclavalin.asp
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August 01:
SNC-Lavalin said PSEG Power awarded it an EPC contract for a 755-MW
combined-cycle natural gas power project in Prince George’s County,
Md., near Washington, D.C. The plant will connect to the Potomac
Electric Power Co.’s 500 kV transmission line and will feature two gas
turbines and one steam turbine.
The firm did not disclose the
contract value, but Montreal-based analyst Yuri Lynk of Canaccord
Genuity, estimates it to be between $800 million and $900 million.
"The
U.S. power market continues to have a bright outlook, as cheap gas and
a move away from coal have been driving the increase in award volume
lately," he says. "However, as with any mature technology in a highly
competitive sector, many E&C firms have seen significant downward
pressure on margins with any execution issues causing a profound
financial impact from cost overruns and liquidated damages."
Lynk
contends that the firm's win last year of a similarly sized natural
gas plant in Maryland "provides a level of comfort that SNC can execute
profitably."
Source: http://enr.construction.com/infrastructure/power_industrial/2015/0731-pseg-awards-estimated-900m-maryland-power-plant-job-to-snclavalin.asp
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