Jacobs Awarded Contract for University of Minnesota Combined Heat and Power Plant
PASADENA, Calif., Feb. 21, 2012 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it was awarded a contract to provide design services for the decommissioning, historic preservation and construction of the Old Main Utility Building (OMUB) Power Plant at the University of Minnesota (UMN) in Minneapolis (officially known as the Combined Heat and Power Plant project). The anticipated 14MW (mega watt) combined heat and power plant, fueled by clean-burning natural gas, will augment an existing coal-burning facility. The new natural gas-fired cogeneration plant is expected to power UMN's Minneapolis campus with electricity and steam while reducing the University's carbon footprint in accordance with its published Climate Action Plan.
The total installed cost (TIC) is $81 million.
Under the terms of the contract, Jacobs is verifying the results of a campus load study, determining how best to decommission the existing equipment, placing a resident on-site engineer, managing the historic preservation of the OMUB, designing the new plant and providing construction administration services. The work involves 3D modeling, interface coordination, detailed engineering and construction plans and environmental compliance, and cost estimates.
In making the announcement, Jacobs Group Vice President Tom McDuffie stated, "We're proud to support the University of Minnesota to help them realize the goals of having a valuable source of heat and electricity while reducing the campus' carbon footprint with a new, natural gas-fired cogeneration plant."
The power plant replacement was at the top of several priorities the University presented to the Minnesota Legislature for funding in the 2012 Capital Request.
Jacobs is one of the world's largest and most diverse providers of technical, professional, and construction services.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2011 Form 10-K, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
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