Engineering Contractor Jacobs Secures $37 Billion Transmission Modernization Contract
Engineering contractor Jacobs has secured a contract on a $37 billion transmission modernization program, according to an Oct. 29 news release. The Dallas-based firm will provide integrated program delivery services for American Electric Power’s transmission portfolio, which plans to invest $37 billion in transmission infrastructure over the next five years.
Work will take place in Indiana, Kentucky, Michigan, Ohio, Tennessee, Virginia, and West Virginia, as stated in the release. Jacobs will oversee various aspects including project management, project controls, engineering and design, siting, outreach, right-of-way, and environmental services.
“Growing electricity demand is driving significant investment in the transmission infrastructure needed to support reliable, resilient energy systems,” said Jacobs CEO Bob Pragada in the release. “Our integrated delivery model will help AEP standardize and scale project delivery across its growing portfolio.”
Private electric power construction spending increased 14% year over year in September, according to a report from the Associated General Contractors of America on Monday. Data center spending jumped 90% over the same period, despite a collective drop in other private nonresidential construction categories, according to AGC.
Jacobs reported a record $28.9 billion backlog in its fiscal third quarter, largely due to healthy demand in infrastructure and data center services. The company recently secured a role in a $1 billion wastewater treatment plant upgrade in San Francisco through a joint venture with PCL Construction.