REG - Balfour Beatty PLC - BALFOUR BEATTY AWARDED £363 MILLION SCHEME

Balfour BeattyAnnouncement

13/09/2024 07:00

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RNS Number : 0369E  Balfour Beatty PLC  13 September 2024

News Release

 

 

BALFOUR BEATTY AWARDED £363 MILLION BRAMFORD TO TWINSTEAD ELECTRICITY NETWORK
REINFORCEMENT SCHEME

Balfour Beatty, the international infrastructure group, today announces that
it has been awarded a £363 million contract by National Grid to deliver the
Bramford to Twinstead Reinforcement project.

 

The contract has been awarded through National Grid's RIIO-2 framework. On
completion, the project will reinforce the electricity network in East Anglia
and ensure that it can continue to reliably and securely transport the
cleaner, greener electricity required for the UK's transition to Net Zero.

 

Balfour Beatty will be responsible for the replacement of the existing high
voltage electricity network between Bramford Substation in Suffolk and
Twinstead Tee in Essex, with a new 400 kilovolt overhead line spanning 18
kilometers. In addition, the company will also deliver 11 kilometres of
underground cable through the Dedham Vale Area of Outstanding Natural Beauty
and Stour Valley.

 

The company will work closely with ecologists and conservationists throughout
to mitigate any disruption to local wildlife and has committed to delivering a
10% biodiversity net gain over the project lifecycle.

 

Leo Quinn, Balfour Beatty Group Chief Executive, said:

 

"This award demonstrates the momentum we are capturing in the energy security
and transition market. As the largest power transmission provider in the UK,
we have a long and proud history of working with National Grid. This latest
award will once again enable our expert teams to deploy their proven
capability to successfully deliver overhead lines and underground cabling
works in complex and challenging landscapes."

 

Main construction is expected to commence in the first half of 2025 with
completion expected in 2028. At peak construction, Balfour Beatty will employ
over 200 people including 10 apprenticeship  and graduate positions as part
of the company's commitment to The 5% Club.

 

ENDS

 

Analyst/investor enquiries:

Jim Ryan
 Tel. +44 (0)785 836 8527

jim.ryan@balfourbeatty.com (mailto:angus.barry@balfourbeatty.com)

 

Media enquiries:

Antonia Walton

+44 (0)203 810 2345

antonia.walton@balfourbeatty.com (mailto:antonia.walton@balfourbeatty.com)

 

Notes to editors:

·    Balfour Beatty (https://www.balfourbeatty.com/) is a leading
international infrastructure group with over 26,000 employees driving the
delivery of powerful new solutions, shaping thinking, creating skylines and
inspiring a new generation of talent to be the change-makers of tomorrow.

·    We finance, develop, build, maintain and operate the increasingly
complex and critical infrastructure that supports national economies and
deliver projects at the heart of local communities.

·    Over the last 114 years we have created iconic buildings and
infrastructure all over the world. Currently, we are working to deliver
Hinkley Point C, the first UK nuclear power station in a generation;
constructing the world-class arts and cultural facility, the Lyric Theatre, in
Hong Kong; and designing, building, financing, operating and maintaining the
Automated People Mover superstructure at the fifth busiest airport in the
world, Los Angeles International Airport.

 

About The 5% Club:

·    The 5% Club is a dynamic movement of employers committed to earn
& learn as part of building and developing the workforce they need as part
of a socially mobile, prosperous and cohesive nation. The Club exists to help
its members and all employers increase further the number, quality and range
of earn & learn opportunities across the UK.

·    By joining The 5% Club, members aspire to reach 5% of their workforce
in 'earn and learn' positions, including apprenticeships, sponsored student
schemes and graduate training, within five years of joining.

·    The 5% Club is a charity and is free for businesses of all sizes and
sectors to join.

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