MT. AIRY, N.C., Sept. 21 /PRNewswire/ -- Pike Electric
Corporation (NYSE: PIKE), one of the nation's leading energy
solutions providers, and Symbion Power LLC have been awarded two
major new energy contracts under the Millennium Challenge Compact
(MCC) which was signed between the governments of the United States of America and the United
Republic of Tanzania in 2008.
These two contracts valued at nearly $65
million were awarded by the Millennium Challenge Account –
Tanzania (MCA-Tanzania).
Together, the two firms will construct or expand
approximately 1,000 miles of distribution lines in the regions of
Mwanza, Tanga, Dodoma, Mbeya, and Iringa.
Ambassador Lenhardt, U.S. Ambassador to the United Republic of
Tanzania, praised MCA-Tanzania and
both companies, noting that the contract was awarded only after a
vigorous, full and open international competition.
J. Eric Pike, Chairman and CEO of
Pike Electric Corporation said, "Pike Electric is pleased and
honored to be a part of the electric infrastructure build out in
Tanzania. It is our goal to train
and employ Tanzanians in modern construction techniques to provide
reliable power throughout this great country."
Pike and Symbion were already working collaboratively on a three
separate projects in Tanzania
valued at nearly $19 million.
Collectively, the companies have been awarded nearly
$84 million in distribution powerline
projects including engineering, material procurement and
construction. Construction on these projects will begin early
in calendar 2011 and will continue for approximately two years.
About Pike Electric
Pike Electric is a leading provider of energy solutions to over
200 investor-owned, municipal and cooperative utilities in
the United States. Our
comprehensive services include siting, permitting, engineering
design, installation, maintenance and repair of power delivery
systems, including renewable energy projects. Our common stock is
traded on the New York Stock Exchange under the symbol PIKE.
For more information, visit us online at www.pike.com.
Safe Harbor
This press release and other statements we make from time to
time in the future may contain forward-looking statements that
relate to Pike Electric's plans, objectives and future estimates.
These statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995 and speak only
as of the date of this release. The terms "should," "believe,"
"plan," "expect," "anticipate," "estimate," "intend" and "project"
and similar words or expressions are intended to identify
forward-looking statements. Various risks, uncertainties and other
factors could cause actual results to differ materially from those
expressed in any forward-looking statements. For a more detailed
list of such risks, uncertainties and other factors, please refer
to the Risk Factor section of Pike Electric's Annual Reports on
Form 10-K and in its other periodic filings with the Securities and
Exchange Commission. Pike Electric makes no commitment to update
any forward-looking statement or to disclose any facts, events, or
circumstances after the date of this release that may affect the
accuracy of any forward-looking statement, except as may be
required by applicable law.
SOURCE Pike Electric Corporation
Copyright . 21 PR Newswire