The Shaw Group Inc. (NYSE: SHAW) today announced it has been awarded a
contract from the State of Louisiana’s Department of Natural Resources
to design, implement and oversee the State Energy Program and the Energy
Efficiency and Conservation Block Grant Program. Both programs are
funded through the American Recovery and Reinvestment Act.
Under the scope of its contract, Shaw will provide design,
implementation, oversight and program management services for the
following programs, which outline large-scale energy efficiency goals
for Louisiana:
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State Buildings – Lead by Example: Meets the existing energy
efficiency goals for state facilities, office buildings and complexes.
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Home Energy Rebate Option: Increases new home energy efficiency
through performance incentives and encourages energy efficiency
retrofitting of existing homes through rebates.
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Transportation Efficiency & Alternative Fuels: Defrays the
cost of converting traditional mass transit buses, school buses and
other fleet vehicles to compressed natural gas vehicles, and
encourages the deployment of energy efficient lighting with
light-emitting diode traffic lights and photovoltaic-powered street
lighting.
-
Renewables: Encourages the deployment of commercially available
renewable energy resources in the state.
-
ENERGY STAR® Appliance Rebate: Encourages
the purchase of ENERGY STAR®-qualified
appliances
among the state’s residents through rebates.
-
Energy Efficiency and Conservation Block Grant Program:
Provides funding to develop and implement projects to improve energy
efficiency and reduce fossil fuel emissions.
These programs will provide long-term economic and environmental value
to Louisiana residents through enhanced public awareness of natural
resource conservation, use of renewable resources, increased energy
efficiency and lessening the state’s dependence on non-renewable energy
sources. Shaw will work with the Louisiana Department of Natural
Resources to process more than $75 million in grant funds for energy
efficiency and sustainability to eligible applicants.
"As a program manager, Shaw has the responsibility to oversee the
Department of Natural Resources’ programs from design to completion,”
said George Bevan, president of Shaw’s Environmental & Infrastructure
Group. "Shaw’s experience in the successful execution of energy
efficiency and sustainability programs for our government clients at the
federal, state and local levels is well-suited to meet the needs of the
State of Louisiana’s program objectives.”
The amount included in Shaw’s Environmental & Infrastructure segment’s
backlog of unfilled orders in the second quarter of fiscal year 2010 was
undisclosed.
The Shaw Group Inc. (NYSE:SHAW) is a leading global provider of
engineering, construction, technology, fabrication, remediation and
support services for clients in the energy, chemicals, environmental,
infrastructure and emergency response industries. A Fortune 500 company
with fiscal year 2009 annual revenues of $7.3 billion, Shaw has
approximately 28,000 employees around the world. For more information,
please visit Shaw’s Web site at www.shawgrp.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor” for certain forward-looking statements. The statements contained
herein that are not historical facts (including without limitation
statements to the effect that the Company or its management "believes,”
"expects,” "anticipates,” "plans” or other similar expressions) and
statements related to revenues, earnings, backlog or other financial
information or results are forward-looking statements based on the
Company’s current expectations and beliefs concerning future
developments and their potential effects on the Company. There can be no
assurance that future developments affecting the Company will be those
anticipated by the Company. These forward-looking statements involve
significant risks and uncertainties (some of which are beyond our
control) and assumptions and are subject to change based upon various
factors. Should one or more of such risks or uncertainties materialize,
or should any of our assumptions prove incorrect, actual results may
vary in material respects from those projected in the forward-looking
statements. The Company undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. A description of some of the
risks and uncertainties that could cause actual results to differ
materially from such forward-looking statements can be found in the
Company’s reports and registration statements filed with the Securities
and Exchange Commission, including its Form 10-K and Form 10-Q reports,
and on the Company’s Web site under the heading "Forward-Looking
Statements.” These documents are also available from the Securities and
Exchange Commission or from the Investor Relations department of Shaw.
For more information on the company and announcements it makes from time
to time on a regional basis, visit our Web site at www.shawgrp.com.
