Quanta Services Selected by Nalcor Energy for Muskrat Falls HVac Transmission Project

Quanta Services Selected by Nalcor Energy for Muskrat Falls HVac Transmission
                                   Project

PR Newswire

HOUSTON, Dec. 18, 2013

HOUSTON, Dec. 18, 2013 /PRNewswire/ -- Quanta Services, Inc. (NYSE: PWR) today
announced that Valard Construction, a Quanta Services company, was selected to
install transmission infrastructure in Labrador, Canada, for Nalcor Energy's
Muskrat Falls Project. Under the terms of the contract, Valard will install
two separate and parallel 315-kilovolt alternating current (AC) transmission
lines, each 155 miles (250 kilometers) in length, or a total of approximately
310 miles (500 kilometers). The two transmission lines will connect Nalcor
Energy's 824 megawatt (MW) Muskrat Falls hydroelectric generating facility
currently under construction with an existing 5,428 MW hydroelectric facility
and electricity infrastructure in Churchill Falls.

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"Valard presented the best-value proposal to Nalcor Energy for the AC
transmission line construction," said Gilbert Bennett, vice president, Nalcor
Energy Lower Churchill Project. "We are confident in their capability to
undertake this work, backed by their strong track record of delivering large
projects in Canada."

Quanta anticipates construction of the Muskrat Falls transmission project will
begin soon and expects the project to be completed in the spring of 2016.
Valard has been awarded all construction aspects of the project, including
foundation installation, tower assembly and erection and conductor stringing.

"Once completed, the Muskrat Falls Project, including the associated
transmission lines, will deliver a reliable and clean supply of electricity to
the island of Newfoundland and will facilitate the delivery of electricity to
markets in the Maritime Provinces and Northeastern United States," said Jim
O'Neil, president and chief executive officer of Quanta Services. "Through
Valard Construction and our other electrical infrastructure operating units,
Quanta brings a history of safe execution, exceptional scope and scale and
financial resources to efficiently construct complex energy infrastructure
projects for our customers."

"Valard has constructed a number of Canada's largest and most critical
transmission lines, and we appreciate Nalcor Energy's confidence in our
ability to safely execute on this complicated project," said Adam Budzinski,
president of Valard Construction. "Valard brings a large, nation-wide skilled
labor resource pool and track record of success to this project, which is
important considering these lines will be built in remote areas in harsh
weather conditions." 

About Valard Construction and Quanta Services
Based in Edmonton, Alberta, Valard Construction is Quanta Services' largest
operating unit in Canada. Valard is a leading full-service engineering,
procurement and construction (EPC) contractor, skilled in providing turnkey
solutions for power system requirements throughout Canada. Valard was founded
in 1978 and comprises a workforce of approximately 2,700 trades-related people
and an experienced management team. For more information, visit
www.valard.com.

Quanta Services is a leading specialized contracting services company,
delivering infrastructure solutions for the electric power and natural gas and
pipeline industries. Quanta's comprehensive services include designing,
installing, repairing and maintaining energy infrastructure. Additionally,
Quanta licenses point-to-point fiber optic telecommunications infrastructure
in certain markets and offers related design, procurement, construction and
maintenance services. With operations throughout North America and in certain
international markets, Quanta has the manpower, resources and expertise to
safely complete projects that are local, regional, national or international
in scope. For more information, visit www.quantaservices.com.

Forward-Looking Statements
This press release (and any oral statements regarding the subject matter of
this press 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: any expected value of the contract with Nalcor Energy, the
scope, services, terms and results of the project awarded under the contract,
the anticipated commencement and completion dates for the project, the safety,
efficiency or success of the project, the impact of the project on the
electric power grid and infrastructure reliability, and prospective growth in
the demand for power and related infrastructure, 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, the effects of industry, economic or political conditions
outside of the control of Quanta; successful performance and completion of the
contract and the project awarded thereunder; failure to realize the
anticipated value of the contract or the project; the potential for incurrence
of damages or other claims for schedule delays or performance shortfalls,
including as a result of warranty claims following completion of the project;
the failure of subcontractors to perform their obligations, including warranty
obligations, under their subcontracts; adverse changes in economic conditions
and trends in relevant markets; future growth in the electric utility and
renewable energy industries; delays, reductions in scope or cancellations of
the contract or the project awarded thereunder, including as a result of
weather, regulatory or environmental issues; cancellation and termination
provisions present in the contract; and other factors affecting the business
of the Quanta generally, including risks detailed in Quanta's Annual Report on
Form 10-K for the year ended December 31, 2012, Quanta's Quarterly Reports on
Form 10-Q for the applicable quarters in 2013 and any other documents filed by
Quanta with the Securities and Exchange Commission (SEC). Should one or more
of these risks materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those expressed or implied in any
forward-looking statements. Investors are cautioned not to place undue
reliance on these forward-looking statements, which are current only as of
this date. Quanta does not undertake and expressly disclaims any obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Quanta further expressly disclaims
any written or oral statements made regarding the subject matter of this press
release by any third party. For a discussion of these risks, uncertainties
and assumptions, investors are urged to refer to Quanta's documents filed with
the SEC that are available through the company's web site at
www.quantaservices.com or through the SEC's Electronic Data Gathering and
Analysis Retrieval System (EDGAR) at www.sec.gov.

Investors - Kip Rupp, CFA Media - Deborah Buks and Molly LeCronier
Quanta Services, Inc.     Ward Creative Communications
713-341-7260              713-869-0707

SOURCE Quanta Services, Inc.

Website: http://www.quantaservices.com
 
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