Tetra Tech (TTEK – Free Report) has secured a ceiling increase of $42 million to the $17 million, single-award four-year contract from the U.S. Agency for International Development (USAID) to boost energy security in the Republic of Moldova. The initial $17 million contract was awarded in March 2022.
Per the deal, TTEK’s energy experts will merge Moldova’s power grid and electricity market with the European system for catalyzing a regional electricity market. TTEK specialists will support the competitive procurement of cleaner energy and will promote energy security, which in turn will aid Moldova to achieve its energy security goals.
With the help of Tetra Tech, Moldova will develop its first integrated National Energy and Climate Plan and Low Emission Development Strategy to boost domestic renewable energy production and increase climate change resilience. TTEK will also help utility companies and policymakers by bringing investment in domestic power generation and by incentivizing energy efficiency.
In November, Tetra Tech clinched a $72.5 million single-award contract for five years from USAID to boost financing access for climate-resilient water and sanitation services.
Per the deal, Tetra Tech will deploy funds to develop WASH services through the USAID Water, Sanitation and Hygiene Finance 2 (WASH-FIN 2) activity. TTEK will work with development partners, government and financial institutions, service providers and local stakeholders to provide clean drinking water and necessary sanitation services to the people in need.
Also, in the same month, Tetra Tech clinched a single-award contract for $38 million from USAID to support the expansion of strategic climate adaptation and resilience programming, worldwide.
Zacks Rank & Stocks to Consider
TTEK currently carries a Zacks Rank #3 (Hold).
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