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SNC-Lavalin Group Inc
Symbol ATRL
Shares Issued 175,509,547
Close 2024-04-26 C$ 55.65
Market Cap C$ 9,767,106,291
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SNC-Lavalin wins master service deal with Avangrid

2024-04-29 10:13 ET - News Release

Mr. Ian Edwards reports

ATKINSREALIS AWARDED MASTER SERVICE AGREEMENT FOR PROGRAM MANAGEMENT AND OWNERS ENGINEERING SERVICES BY AVANGRID NETWORKS

AtkinsRealis (SNC-Lavalin Group Inc.) has been awarded a multiyear master service agreement (MSA) for project management office (PMO) and owners engineering (OE) services in the northeastern United States by Avangrid Networks, a subsidiary of leading sustainable energy company Avangrid Inc. AtkinsRealis has provided Avangrid with similar services under multiple agreements during the last 11 years.

"We are committed to delivering technology-based solutions to support the energy transition so future generations can reap the benefits of a more sustainable, low-carbon world," said Ian L. Edwards, president and chief executive officer, AtkinsRealis. "As a trusted delivery partner for clients around the world, we bring reliability, stability, security and automation to the modern-day power grid through assets that meet the needs of the changing energy landscape."

Under the MSA, AtkinsRealis will provide engineering support and manage planning, controlling, permitting, environmental studies, public communications, field construction management, procurement, construction, commissioning and other services for Avangrid's extensive capital expenditure (capex) projects. The services will be provided to four electric utilities or operating companies/property companies (opco/propco): Rochester Gas and Electric (RG&E), New York State Electric and Gas Company (NYSEG), Central Maine Power (CMP), and United Illuminating (UI).

"Our long-standing relationship with Avangrid combined with our time-tested methods, techniques and processes uniquely positions us to continue to successfully deliver on the company's business objectives," said Steve Morriss, president, U.S., Latin America, and minerals and metals, AtkinsRealis. "We have a strong understanding of project scopes, constraints and timelines, which enables us to drive cost efficiency and produce value from our client's investments."

AtkinsRealis has a proven record of working with leading electric utilities and industrial companies throughout the northeastern United States and across North America, completing similar programs worth $20-billion (U.S.) during the last 10 years. The company previously supplied capital project OE services to Avangrid for operating companies RGE and NYSEG. AtkinsRealis has provided operating companies CMP, NYSEG, RGE and UI with capital project PMO services through contracts with Avangrid in the past as well.

About SNC-Lavalin Group Inc. (AtkinsRealis)

Created by the integration of long-standing organizations dating back to 1911, AtkinsRealis is a world-leading professional services and project management company dedicated to engineering a better future for the planet and its people. The company creates sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. It deploys global capabilities locally to its clients and delivers unique end-to-end services across the whole life cycle of an asset, including consulting, advisory and environmental services, intelligent networks and cybersecurity, design and engineering, procurement, project and construction management, operations and maintenance, decommissioning, and capital. The breadth and depth of the company's capabilities are delivered to clients in strategic sectors such as engineering services, nuclear and capital.

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