QUANTA SERVICES, INC. 
By Joint venture to provide substation and transmission design and construction in New England
"We are committed to investing in our transmission network and to continue delivering high levels of reliability to our customers," said Masheed Saidi, National Grid's executive vice president and chief operating officer, U.S. Transmission. "New Energy Alliance will work together with National Grid to share best practices, continually improve performance and make safety and environmental issues central to everything we do."
Under a transition services agreement, it is expected that New Energy Alliance will provide initial consulting and design services while finalizing the terms of the five-year contract for design and installation services. Under the contract, New Energy Alliance will provide engineering and installation services for National's Grid's transmission system in
"The magnitude of National Grid's infrastructure investment symbolizes the need to upgrade the nation's power grid," said
About Quanta Services
Quanta Services is a leading specialized contracting services company, delivering infrastructure network solutions for the electric power, natural gas, telecommunications and cable television industries. The company's comprehensive services include engineering, designing, installing, repairing and maintaining network infrastructure nationwide. With operations in all 50 states and
About Balfour Beatty
Balfour Beatty is a U.K.-based engineering, construction, services and investment business serving infrastructure markets. The company's skills are applied in appropriate combinations to meet individual customer needs. Balfour Beatty's businesses in
Forward Looking Statement
This press release and oral statements regarding the subject matter of this release contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to: statements relating to the intention and ability of the parties to enter into the definitive documentation contemplated by the non-binding letter of intent (LOI) and the scope, services, term and results of any ultimate arrangements between the parties or any related projects, as well as statements reflecting expectations, intentions, assumptions or beliefs about future events and other statements that do not relate strictly to historical or current facts. Although Quanta's management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements can be affected by inaccurate assumptions and by a variety of risks and uncertainties that are difficult to predict or beyond our control, including, among others, ability of the parties to negotiate and finalize the definitive agreements as contemplated by the LOI; ability to obtain regulatory or other approvals or consents that may be necessary for the arrangements contemplated by the LOI or related projects; successful performance and completion of the intended contract; failure to realize the anticipated value of the intended contract; adverse changes in economic conditions and trends in relevant markets; future growth in the electric utility industry; the inability of customers to pay for services; cancellation provisions that may be present in the intended contract; and other factors affecting the business of the respective parties generally, including risks detailed in Quanta's Annual Report on Form 10-K for the year ended
Contacts: James Haddox, CFO Ken Dennard / ksdennard@drg-e.com
Reba Reid Kip Rupp / krupp@drg-e.com
Quanta Services, Inc. DRG&E
713-629-7600 713-529-6600 / 404-872-6764
SOURCE Quanta Services, Inc.
