LOS ANGELES--(BUSINESS WIRE)--Jan. 10, 2013-- AECOM Technology Corporation (NYSE: ACM), a leading global provider of professional technical and management support services for public and private clients in more than 130 countries around the world, announced today that it has been engaged by Transmission Developers Inc. (TDI) of Albany, N.Y., as owner’s engineer for the Champlain Hudson Power Express project (CHPE).
CHPE is a high-voltage direct current (HVDC) buried and submarine cable transmission project that will bring 1,000 megawatts of clean power, primarily generated by wind and hydropower, to the New York City metropolitan area. The transmission route will travel through New York starting at the U.S.-Canada border and pass through Lake Champlain; railroad and public rights of way; and the Hudson, Harlem and East rivers; and end in Queens. The US$2.2-billion merchant transmission project is being developed with private sector investment led by the Blackstone Group LP and is expected to be in service by late 2017.
As owner’s engineer, AECOM will support supplier and contractor selection and negotiation, environmental and regulatory permitting and compliance, and oversight of all aspects of project construction on behalf of TDI.
“AECOM is committed to playing a major role in the upgrade of energy infrastructure around the world,” said AECOM Chairman and Chief Executive Officer John M. Dionisio. “We are delighted to play a key role in a marquee project that will lower costs, increase reliability and reduce emissions as we bring to bear our extensive experience on assignments that encompass alternative energy, transmission and distribution, power generation and energy management.”
Donald Jessome, president and Chief Executive Officer of TDI, said, “We are extremely pleased to be working with AECOM and look forward to fully utilizing its world-class team as we complete this very important energy project, which will upgrade the transmission infrastructure and bolster the economy of New York state.”
AECOM has worked with more than 300 utilities and developers around the world. It was ranked as the world’s No. 1 global design firm by Engineering News-Record magazine for the last three years. Its broad range of services includes turnkey engineer-procure and construct (EPC) projects to engineer of record and owner’s engineer assignments, including high-voltage upland and marine transmission projects.
AECOM is a global provider professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government. With approximately 45,000 employees around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation and technical excellence in delivering solutions that create, enhance and sustain the world's built, natural, and social environments. A Fortune 500 company, AECOM serves clients in more than 130 countries and had revenue of $8.2 billion during the 12 months ended Sept. 30, 2012. More information on AECOM and its services can be found at www.aecom.com.
About CHPE and TDI
The Champlain Hudson Power Express Project is a completely buried, 333-mile HVDC transmission line that will be installed underground and underwater, originating at the U.S.-Canada border and running the length of Lake Champlain and through parts of the Hudson River to New York City.
In development since 2008, the project will bring 1,000 megawatts of clean, reliable energy to meet growing needs and is at the forefront of America's emerging "smart grid" revolution. The project is projected to reduce energy costs for consumers and businesses by $650 million a year once complete. These savings are estimated create 2,400 new jobs across a wide spectrum of the economy. While under construction, the Champlain Hudson Power Express is expected to create an average of 300 construction jobs during the approximately four-year construction period.
The project will also diversify the state's energy portfolio, and increase the electric grid’s safety and security by creating new, hardened infrastructure that is less susceptible to damage from natural disasters.
TDI was acquired by the Blackstone Group LP, which has its headquarters in New York City, in January 2010. TDI has its headquarters in Albany, N.Y. More information is available online at www.chpexpress.com.
Forward-Looking Statements: All statements in this press release other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections of earnings, statements of plans for future operations or expected revenue. Actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause actual results to differ materially from our forward-looking statements are set forth in our annual report on Form 10-K for the fiscal year ended Sept. 30, 2012, and our other reports filed with the U.S. Securities and Exchange Commission. AECOM does not intend, and undertakes no obligation, to update any forward-looking statement.
Source: AECOM Technology Corporation
AECOM Technology Corporation
Paul Dickard, VP, External Communications, 646-432-8473