PSN - Parsons Included on $5 Billion Contract to Revitalize Puerto Rico's Power System | Benzinga
CHANTILLY, Va., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that the company was included on a multiple award indefinite-delivery, indefinite-quantity task order contract for the Puerto Rico Power System Stabilization Project by the United States Army Corps of Engineers (USACE) Savannah District. The $5 billion ceiling value contract includes a base performance period of five years and represents new work for the company.
Under this contract, Parsons will compete for task orders to provide temporary power generation for the stabilization of Puerto Rico's power grid, supporting the government's request for assistance and aiding residents of the island as they recover from natural disasters.
"Power delivery projects are an integral part of Parsons' leading energy solutions, and our expertise covers every step, from generation to end-user consumption," said Jon Moretta, president, Engineered Systems for Parsons. "We look forward to leveraging our capabilities to advance USACE's efforts and stabilize Puerto Rico's power system. This work is vital to ensuring residents of the island recover, have resilient infrastructure, and a more sustainable future."
Since 2017, the U.S. territory has been devastated by multiple storms and an earthquake, causing significant damage to its power system. To repair the system while still meeting the needs of customers, temporary power is required to augment the loss of power at generation facilities undergoing repairs.
Parsons has delivered power and energy-related solutions, including alternative and renewable energy sources, to clients for over 65 years. The company's full-service offering includes project and program management, engineering, design, construction management, environmental, licensing, and permitting services that encompass the range of activities needed to place power systems in commercial operation.
To learn more about Parsons' leading energy solutions, visit