Tetra Tech, Inc. (TTEK - Analyst Report) recently received a five-year, $400 million contract to provide technical assistance to the U.S. Agency for International Development (USAID) clean energy program development in critical priority countries.
The indefinite delivery/indefinite quantity (ID/IQ) contract will be shared by five companies, including two small businesses.
As per the terms of the contract, Tetra Tech will design clean energy strategies in countries including Afghanistan, Iraq, Pakistan, South Sudan and Yemen; which will help USAID address the increasing demand for use of clean energy services.
Tetra Tech will also help government structures in the development of clean energy solutions; analyze the environmental impact of energy services and also bring in private sector’s involvement and investment in clean energy.
Further, Tetra Tech will assist USAID in its efforts to reduce global warming. The program also includes improvement of foreign and local government capacity in the energy sector to handle natural or man-made disasters.
Earlier in Feb 2013, the company was awarded a $350 million contract to provide technical assistance to USAID for global clean energy development program.
Tetra Tech, a leading provider of environmental services, is performing well in its international market, benefiting from the rising demand for clean resources. Tetra Tech currently has a Zacks Rank #3 (Hold). CECO Environmental Corp (CECE - Snapshot Report), operating in the similar industry and having a Zacks Rank #1 (Strong Buy), along with Quanta Services Inc. (PWR - Analyst Report) and Orion Marine Group Inc. (ORN - Snapshot Report), both having a Zacks Rank #2 (Buy), are worth considering at the moment.