Aberdeen’s Wood wins major US solar contracts worth $200m

Wood, the Aberdeen-headquartered energy and engineering services group, has secured two major US solar contracts worth in excess of $200 million (£158m).

More and more solar energy schemes are popping up around the world.
More and more solar energy schemes are popping up around the world.

The firm, which is due to update on trading later this week, said it had secured the solar engineering, procurement and construction (EPC) contracts from an unnamed American power and energy company.

Wood was selected following a competitive tender process and will be responsible for delivering the solar projects in the state of Virginia with a combined output of 190 megawatts.

Hide Ad

The first project is a 120-megawatt solar facility in Pittsylvania County, expected to be operational in 2022. The second covers a 70-megawatt solar facility in Chesapeake that is scheduled to be operational in late 2021.

Both solar facilities also further the state’s clean economy act, passed in April, which mandates that all electricity be 100 per cent carbon-free by 2050.

Hide Ad

Stephanie Cox, chief executive of Wood’s asset solutions Americas business, said: “These contracts build on a ten-year relationship with our client, for whom we’ve executed more than 40 projects.

“The awards are testament to our ability to maintain consistent project execution, deliver to accelerated construction schedules and bring forth a strong EPC proposition and skilled workforce to meet our client’s project goals.

Hide Ad

“We are seeing an unstoppable momentum towards a lower-carbon energy environment and Wood is proud to partner with clients that are committed to investing in a sustainable energy future.”

The latest contract awards follow a series of other recent wins including $100m of onshore wind projects, that will see the Scottish group’s US renewables business double in size in 2020.

Hide Ad

Wood, which operates in more than 60 countries, employing some 55,000 people, is expected to update the market on the impact of the sharp fall in oil prices when it reports on trading.

In April, the group said it was pulling its planned dividend for the last financial year, given oil prices had suffered their steepest drop in 20 years.

Hide Ad

Executive directors and senior leaders at the company have taken a temporary 10 per cent salary reduction, some workers have been furloughed and others offered unpaid leave as it attempts to mitigate the impact of the Covid-19 outbreak.

However, the group stressed it was now less dependent on the oil and gas sector after broadening its business in recent years and that its track record of adapting to market conditions stood it in good stead.

Hide Ad

Wood recently said it plans to reduce its emissions by 40 per cent by 2030.

Read More
Aberdeen energy group Wood appointed to help deliver hi-tech York transport proj...
Hide Ad

A message from the Editor:

Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.

Hide Ad

With the coronavirus lockdown having a major impact on many of our advertisers - and consequently the revenue we receive - we are more reliant than ever on you taking out a digital subscription.

Subscribe to scotsman.com and enjoy unlimited access to Scottish news and information online and on our app. With a digital subscription, you can read more than 5 articles, see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Visit https://www.scotsman.com/subscriptions now to sign up.

Hide Ad

Our journalism costs money and we rely on advertising, print and digital revenues to help to support them. By supporting us, we are able to support you in providing trusted, fact-checked content for this website.

Joy Yates

Hide Ad

Editorial Director

Comments

 0 comments

Want to join the conversation? Please or to comment on this article.