MOUNT AIRY, N.C., Nov. 9 /PRNewswire-FirstCall/ -- Pike Electric Corporation (NYSE: PIKE), a leading national energy solutions provider, announced today that The Shaw Group Inc. (NYSE: SHAW) has awarded Pike an engineering, procurement, and construction (EPC) contract for the new 230kV Transmission Switchyard and Offsite Power System for the V.C. Summer Nuclear Station in South Carolina.
The construction of this switchyard, and the associated electrical work, is in support of the two nuclear power units being added by South Carolina Electric & Gas Company (SCE&G), principal subsidiary of SCANA Corporation (NYSE: SCG), and the South Carolina Public Service Authority (Santee Cooper), a state-owned electric and water utility in South Carolina. The new units, known as V.C. Summer 2 and 3, are scheduled for completion in 2016 and 2019. The station began commercial operation January 1, 1984 and this construction marks one of the first U.S. nuclear plants to add reactors in 20 years.
"V.C. Summer 2 and 3 will be among the first new nuclear units constructed in this country in decades, and we are extremely pleased to have been selected for this project. This EPC award is important for Pike, as it recognizes our full platform of Energy Solutions and fulfills a strategic goal to participate in the opportunities presented by the renewed interest in U.S. nuclear power," said Eric Pike, Chairman and CEO of Pike. "The engineering for this project begins immediately utilizing Pike's Charlotte office and construction is expected to be completed by the end of 2015."
SCE&G is a regulated public utility that provides natural gas service to approximately 309,000 customers in South Carolina. SCE&G also is engaged in the generation, transmission, distribution and sale of electricity to approximately 650,000 customers throughout the state. Information about SCE&G is available on the company's Web site at www.sceg.com.
About SCANA Corporation
SCANA Corporation, a Fortune 500 company headquartered in Columbia, South Carolina, is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses in South Carolina, North Carolina and Georgia. Information about SCANA Corporation and its businesses is available on the Company's Web site at www.scana.com.
About The Shaw Group Inc.
The Shaw Group Inc. is a leading global provider of technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation and facilities management services for government and private sector clients in the energy, chemicals, environmental, infrastructure and emergency response markets. Information about Shaw Group is available on the Company's Web site at www.shawgrp.com.
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 www.pike.com.
SOURCE Pike Electric Corporation