HOUSTON, April 18, 2012 /PRNewswire/ -- Quanta Power Generation, Inc., a subsidiary of Quanta Services, Inc. (NYSE: PWR), today announced that it has been selected by GCL Solar Energy, Inc. to provide comprehensive engineering, procurement and construction for two photovoltaic (PV) facilities totaling approximately 70 megawatts (MWac) near the city of Alpaugh in Tulare County, Calif.
"Quanta is a leading EPC company providing turnkey EPC solar installations," said Shu Hua, executive president of GCL-Poly Energy Holdings Limited. "The Quanta team will play an important role in the development of one of the largest solar tracking facilities in the world."
Under the terms of the contract with SPS Alpaugh 50 LLC, a SPE subsidiary of GCL Solar Energy, Inc., Quanta will provide comprehensive design, engineering, procurement and installation for all equipment required for the Alpaugh 50MWac project. Pre-construction activities began in February 2012 and the project is expected to be completed by the end of the year. The company signed a separate contract with Alpaugh North LLC, also a SPE subsidiary of GCL Solar Energy, Inc., for the 20MWac Alpaugh North Project, which is anticipated to be completed in October 2012. Combined, the facilities will use approximately 324,000 solar tracking modules, which will be provided by GCL Solar Energy, and span more than 500 acres.
"These two solar facilities are expected to support the local economy through job creation and generation of clean, renewable power," said Jim O'Neil, president and chief executive officer of Quanta Services. "We are proud to be part of the team and to apply our expertise in engineering, procurement and construction to such an important project."
About Quanta Power Generation Quanta Power Generation, a Quanta Services (NYSE: PWR) company, is a full-service engineering, procurement and construction (EPC) provider. The company offers a unique approach to traditional EPC models in a new era of power generation. Its portfolio encompasses expertise in clean energy sources such as solar, geothermal, natural gas and biofuels.
About Quanta Services Quanta Services is a leading specialized contracting services company, delivering infrastructure solutions for the electric power, natural gas and pipeline and telecommunication industries. The company's comprehensive services include designing, installing, repairing and maintaining network infrastructure nationwide. Additionally, Quanta licenses point-to-point fiber optic telecommunications infrastructure in select markets and offers related design, procurement, construction and maintenance services. With operations throughout North America and in select international markets, Quanta has the manpower, resources and expertise to complete projects that are local, regional, national or international in scope.
Forward-Looking Statements This press release (and any oral statements regarding the subject matter of this press release) contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to: any expected value of the contracts with SPS Alpaugh North LLC and SPS Alpaugh 50 LLC, the scope, services, term and results of the projects awarded under the agreements and the impact of the projects on the local economy and generation of renewable energy, as well as statements reflecting expectations, intentions, assumptions or beliefs about future events and other statements that do not relate strictly to historical or current facts. Although Quanta's management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements can be affected by inaccurate assumptions and by a variety of risks and uncertainties that are difficult to predict or beyond our control, including, among others, successful performance and completion of the contract and the project awarded thereunder; failure to realize the anticipated value of the contracts or projects; the potential for incurrence of damages or other claims for schedule delays or performance shortfalls, including as a result of warranty claims following completion; the failure of Quanta's subcontractors to perform their obligations, including warranty obligations, under their subcontracts; adverse changes in economic conditions and trends in relevant markets; future growth in the electric utility and renewable energy industries; delays, reductions in scope or cancellations of the contracts or projects awarded thereunder; dependence on fixed-price contracts and the potential to incur losses with respect to these contracts; the inability of customers to pay for services; cancellation and termination provisions present in the contracts; and other factors affecting the business of the Quanta generally, including risks detailed in Quanta's Annual Report on Form 10-K for the year ended December 31, 2010, Quanta's Quarterly Reports on Form 10-Q for each quarter ended in fiscal year 2011 and any other documents of Quanta filed with the Securities and Exchange Commission (SEC). Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Quanta further expressly disclaims any written or oral statements made regarding the subject matter of this press release by any third party. For a discussion of these risks, uncertainties and assumptions, investors are urged to refer to Quanta's documents filed with the SEC that are available through the company's web site at www.quantaservices.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov.