MT. AIRY, N.C., Sept. 21 /PRNewswire/ -- Pike Electric Corporation , 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 http://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.
Pike Electric Corporation
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