HomeMediaIn the NewsQuanta Services and ATCO-Led Consortium Selected by the Puerto Rico Public-Private Partnership Authority for the Operation and Maintenance of Puerto Rico’s Electric Power Transmission and Distribution System

Quanta Services and ATCO-Led Consortium Selected by the Puerto Rico Public-Private Partnership Authority for the Operation and Maintenance of Puerto Rico’s Electric Power Transmission and Distribution System

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Significant Opportunity to Modernize and Transform the Puerto Rico Power Grid

Opportunity to Create Long-Term Social and Economic Benefits for the People of Puerto Rico

Quanta-ATCO Joint Venture to Receive Annual Management Fee with Opportunity for Additional

Annual Performance-Based Incentive Fees for 15 Years

Opportunity for Long-Term Contribution to Earnings, Cash Flow and Return on Invested Capital

HOUSTON, June 22, 2020 /PRNewswire/ — Quanta Services, Inc. (NYSE: PWR) announced today that LUMA Energy, LLC (LUMA), a joint venture between Quanta Services (Quanta) and Canadian Utilities Limited, an ATCO Ltd. Company (ATCO), in conjunction with Innovative Emergency Management, Inc. (IEM), has been selected by the Puerto Rico Public-Private Partnership Authority (P3) for a 15-year Operation and Maintenance Agreement (the O&M Agreement) with the Puerto Rico Electric Power Authority (PREPA). This O&M Agreement engages LUMA to operate, maintain and modernize PREPA’s more than 18,000-mile electric transmission and distribution (T&D) system in Puerto Rico following a transition period. LUMA’s selection by the P3 for the O&M Agreement has received all necessary final regulatory and government approvals and follows a competitive process that lasted for more than a year. In addition to delivering a more reliable and resilient power grid, LUMA believes its efforts will lead to the transformation of PREPA and deliver long-term social and economic benefits to the people of Puerto Rico. LUMA will not own the T&D assets nor own or operate the power generation assets. Quanta and ATCO each own 50% of LUMA.

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