Jacobs/Morrison Utility Services Joint Venture Awarded Position on National Grid's Six-year Transmission Substation Delivery Framework
Jacobs (NYSE:J) and Morrison Utility Services have secured a position on National Grid's six-year Substations Engineering Procurement Construction Framework in the U.K., valued at approximately $1.3 billion. This framework will support National Grid's performance-based regulatory program under RIIO-T2, facilitating the transition to low-carbon generation. As the principal contractor, the JV will manage the construction and decommissioning of high voltage substations. This partnership leverages over 13 years of collaboration, focusing on innovative solutions to reduce costs and enhance sustainability.
- JV awarded a $1.3 billion contract with National Grid.
- Focus on low-carbon and renewable energy solutions.
- Continued partnership leveraging 13 years of collaboration.
- None.
DALLAS, April 20, 2021 /PRNewswire/ -- Jacobs (NYSE:J)/Morrison Utility Services Joint Venture (JV) has been awarded a place on National Grid's six-year Substations Engineering Procurement Construction Framework in the U.K. The framework will provide collaborative and long-term support through program management, early contractor involvement, design and construction to deliver National Grid's performance-based substation regulatory program under RIIO-T2, where revenue generated is realized through a combination of incentives, innovation and outputs. National Grid estimates the contract value at
As principal designer and principal contractor, the Jacobs/Morrison Utility Services Joint Venture will deliver new build, extension, replacement and decommissioning of high voltage electricity substations. The framework aims to develop the transmission network to maintain security of supply, while facilitating the ongoing transition to and connection of low-carbon generation and renewable technology.
"This project creates further opportunities to build on more than 13 years of working collaboratively with National Grid," said Jacobs People & Places Solutions Senior Vice President Europe and Digital Strategies Donald Morrison. "We look forward to driving innovative solutions to reduce benchmark costs and program duration, enabling transition to the sustainable energy system of the future."
The JV will also focus on solutions to challenge convention and help National Grid support the low-carbon economy, using innovation to reduce materials, cost, carbon and scheduling. Organizational and delivery behaviors are aligned with the Project 13 Framework, an industry-led response to infrastructure delivery models in the U.K, where performance is incentivized against outcomes, using collaborative and integrated teams to challenge and maximize value.
At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements, including, but not limited to, the impact of the COVID-19 pandemic and the related reaction of governments on global and regional market conditions and the company's business. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see our Annual Report on Form 10-K for the year ended October 2, 2020, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, and our Quarterly Report on Form 10-Q for the quarter ended January 1, 2021, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
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