Engility Wins $400 Million Clean Energy IDIQ Contract to Provide Technical Assistance in Developing
Engility Wins $400 Million Clean Energy IDIQ Contract to Provide Technical Assistance in Developing Countries
Engility's IRG Subsidiary Will Support USAID Energy Development Efforts
CHANTILLY, Va.--(BUSINESS WIRE)-- Engility Holdings, Inc. (NYS: EGL) , today announced that one of its subsidiaries has been selected as a prime contractor to support the U.S. Government's multi-million dollar Clean Energy IDIQ contract for Critical Priority Countries (Afghanistan, Iraq, Pakistan, Sudan and Yemen) and the task orders to be issued under it. United States Agency for International Development (USAID) is funding this technical assistance.
The IDIQ contract is expected to have a maximum combined ceiling of $400,000,000 over the five years, and Engility, through its wholly-owned subsidiary International Resources Group Ltd, (IRG), will be will be eligible to compete for task orders until the shared ceiling is reached. IRG became a part of Engility Corporation during Engility's spin off from L-3 Communications last year.
"This contract builds on the current Energy II IQC that IRG holds and represents an expansion of energy support services that our team of outstanding and highly qualified professionals has been providing on USAID's behalf for more than three decades," said Tony Smeraglinolo, President and CEO of Engility.
"Around the globe there is growing demand for responsible energy development and we are proud to have the opportunity to continue supporting USAID and its important mission," he added. "Engility will provide a range of key technical assistance activities, from energy sector reform (including legal, regulatory and corporate governance structures and mechanisms) to increasing human resource capacity related to energy services and fostering private sector participation and investment."
Through this Clean Energy IDIQ contract and the task orders that will be issued under it, USAID will fund technical assistance in the Critical Priority countries to improve access to reliable and affordable clean energy, improve regulation and governance in the energy sector, demonstrate the use of innovative technologies and business models, and assist with the transition to a low carbon development trajectory.
Under the six energy sector themes of climate change, clean energy, energy poverty, energy sector governance, energy security, and energy sector reform, there will be a range of key technical assistance activities, including: developing activities and strategy designs; creating enabling environments for clean energy development and energy sector reform (including legal, regulatory and corporate governance structures and mechanisms); incorporating climate change into USAID Mission programs; increasing human resource capacity related to energy services; fostering private sector participation and investment; facilitating innovative financing approaches (such as revolving funds, bond pools, advance market commitments, credit guarantees, and structured finance); assessing the environmental implications of energy services; and improving disaster preparations, responses and recovery in the energy sector.
The U.S. Agency for International Development administers the U.S. foreign assistance program providing economic and humanitarian assistance in more than 80 countries.
About Engility Corporation
Engility is a pure-play government services contractor providing highly skilled personnel wherever, whenever they are needed in a cost-effective manner. Headquartered in Chantilly, Virginia, Engility is a leading provider of specialized technical consulting, program and business support services, engineering and technology lifecycle support, information technology modernization and sustainment, supply chain services and logistics management, and training and education for the U.S. Government with approximately 7,800 employees worldwide and sales of $1.66 billion for 2012. To learn more about Engility, please visit www.engilitycorp.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Engility's future prospects, projected financial results and business plans. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are also used to identify these forward-looking statements. These statements are based on the current beliefs and expectations of Engility's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause Engility's actual results to differ materially from those described in the forward-looking statements can be found under the heading "Risk Factors" included in our annual report on Form 10-K for the year ended December 31, 2012, which has been filed with the Securities and Exchange Commission (SEC), and any updates thereto included in our more recent periodic reports, and is available on the investor relations section of Engility's website (http://www.engilitycorp.com) and on the SEC's website (www.sec.gov). Forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, historical information should not be considered as an indicator of future performance.
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