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Released November 15, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Engineering and design-build firm AECOM (NYSE:ACM) (Los Angeles, California) saw an uptick in its project backlog at the end of its 2022 fiscal year, which wrapped up in September. Despite the impact of a stronger dollar, the company's global design business reported its highest quarterly growth rate in more than a decade. Total backlog in the design business increased by 8%, fueled by transportation and energy-related projects. Industrial Info is tracking more than $53 billion worth of projects worldwide that are using AECOM's services, including nearly $20 billion within the U.S.
The bulk of these projects--more than $14 billion worth--are state or municipal transportation-system projects. Projects under construction include a $2 billion light rail expansion in Minneapolis, Minnesota; a $1.1 billion airport terminal modernization in Pittsburgh, Pennsylvania; and a $704 million light rail expansion in Phoenix, Arizona. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for a full list of transportation-system projects involving AECOM's services.
Click on the image at right for a map of transportation-system projects involving AECOM.
In its most recently completed fiscal quarter, AECOM began architectural and engineering work on the Georgia Ports Authority's $200 million Phase II expansion of its Garden City Terminal at the Port of Savannah. Among other additions, AECOM and its partners on the project are building 90 acres of container storage and a full mile of access roadway for the terminal. The project is currently expected to wrap up toward the end of 2024. Subscribers can learn more from Industrial Info's project report.
AECOM also is providing engineering management services for New York Power Authority's (NYPA) $535 million rebuild of a transmission line from Massena to Glenfield, also known as the Smart Path Connect Transmission Project. According to the New York Power Authority, the project, which covers about 100 miles, "will enable the flow of an additional 1,000 MW of clean, renewable energy across New York State." Subscribers can learn more from detailed project reports on the first half and second half of the Massena-Glenfield line.
Mixed Outlook for Renewable Projects
On the renewables front, AECOM is serving as environmental consultant for a major municipal project near Sacramento, California: the 344-MW Country Acres Solar Plant near Roseville. The project, for which developers recently released a draft environmental impact report, is expected to begin construction in early 2023, according to the project's website. Subscribers can learn more from Industrial Info's project report.
But one of the most ambitious renewable-energy projects that would feature AECOM's services remains "up in the air," so to speak. The Mayflower Offshore Windfarm in Massachusetts, is owned by a joint venture between Shell plc (NYSE:SHEL) (London, England) and Ocean Winds, itself a joint venture between EDP Renewables North America (Houston, Texas) and Engie S.A. (Paris, France).
The Mayflower project has struggled to move forward since it was proposed before the COVID-19 pandemic. Recently, the developers requested the Massachusetts Department of Public Utilities (DPU) for a one-month suspension of the DPU's review of power-purchase agreements (PPAs) attached to the project, citing high interest rates, inflation and supply-chain constraints as reasons to renegotiate the PPAs. However, the DPU rejected the request, according to The Herald News of Fall River, Massachusetts.
The DPU said the request was pointless, as the three companies with which the developers signed PPAs--Eversource Energy (NYSE:ES) (Boston, Massachusetts), National Grid plc (NYSE:NGG) (London, England), and Unitil Corporation (NYSE:UTL) (Hampton, New Hampshire)--do not intend to renegotiate the contracts. In response, the Mayflower developers vowed to "move forward" on the project, with AECOM attached as lead environmental consultant. But even if it is ultimately deemed viable, the project would not begin construction for another two years. Subscribers can read detailed project reports on the offshore windfarm, its onshore substation and a related transmission line.
AECOM's total backlog stood at $40.2 billion worth of contracted, awarded and unconsolidated joint-venture projects, compared with $38.6 billion at the end of fiscal 2021. This includes $35.1 billion from the Americas business, compared with $33.4 billion at the end of the company's previous fiscal year.
"We are better positioned than ever to capitalize on multiple secular growth drivers that are positively impacting our markets," said Lara Poloni, the president of AECOM, in a quarterly earnings-related press release. "These trends include a global infrastructure investment renaissance, growing demand for sustainability and resilience-related services, and post-COVID supply-chain and resource adaptation. Our clients are prioritizing investments in these areas."
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports on projects across the U.S. that are using AECOM's services.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
The bulk of these projects--more than $14 billion worth--are state or municipal transportation-system projects. Projects under construction include a $2 billion light rail expansion in Minneapolis, Minnesota; a $1.1 billion airport terminal modernization in Pittsburgh, Pennsylvania; and a $704 million light rail expansion in Phoenix, Arizona. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for a full list of transportation-system projects involving AECOM's services.
Click on the image at right for a map of transportation-system projects involving AECOM.In its most recently completed fiscal quarter, AECOM began architectural and engineering work on the Georgia Ports Authority's $200 million Phase II expansion of its Garden City Terminal at the Port of Savannah. Among other additions, AECOM and its partners on the project are building 90 acres of container storage and a full mile of access roadway for the terminal. The project is currently expected to wrap up toward the end of 2024. Subscribers can learn more from Industrial Info's project report.
AECOM also is providing engineering management services for New York Power Authority's (NYPA) $535 million rebuild of a transmission line from Massena to Glenfield, also known as the Smart Path Connect Transmission Project. According to the New York Power Authority, the project, which covers about 100 miles, "will enable the flow of an additional 1,000 MW of clean, renewable energy across New York State." Subscribers can learn more from detailed project reports on the first half and second half of the Massena-Glenfield line.
Mixed Outlook for Renewable Projects
On the renewables front, AECOM is serving as environmental consultant for a major municipal project near Sacramento, California: the 344-MW Country Acres Solar Plant near Roseville. The project, for which developers recently released a draft environmental impact report, is expected to begin construction in early 2023, according to the project's website. Subscribers can learn more from Industrial Info's project report.
But one of the most ambitious renewable-energy projects that would feature AECOM's services remains "up in the air," so to speak. The Mayflower Offshore Windfarm in Massachusetts, is owned by a joint venture between Shell plc (NYSE:SHEL) (London, England) and Ocean Winds, itself a joint venture between EDP Renewables North America (Houston, Texas) and Engie S.A. (Paris, France).
The Mayflower project has struggled to move forward since it was proposed before the COVID-19 pandemic. Recently, the developers requested the Massachusetts Department of Public Utilities (DPU) for a one-month suspension of the DPU's review of power-purchase agreements (PPAs) attached to the project, citing high interest rates, inflation and supply-chain constraints as reasons to renegotiate the PPAs. However, the DPU rejected the request, according to The Herald News of Fall River, Massachusetts.
The DPU said the request was pointless, as the three companies with which the developers signed PPAs--Eversource Energy (NYSE:ES) (Boston, Massachusetts), National Grid plc (NYSE:NGG) (London, England), and Unitil Corporation (NYSE:UTL) (Hampton, New Hampshire)--do not intend to renegotiate the contracts. In response, the Mayflower developers vowed to "move forward" on the project, with AECOM attached as lead environmental consultant. But even if it is ultimately deemed viable, the project would not begin construction for another two years. Subscribers can read detailed project reports on the offshore windfarm, its onshore substation and a related transmission line.
AECOM's total backlog stood at $40.2 billion worth of contracted, awarded and unconsolidated joint-venture projects, compared with $38.6 billion at the end of fiscal 2021. This includes $35.1 billion from the Americas business, compared with $33.4 billion at the end of the company's previous fiscal year.
"We are better positioned than ever to capitalize on multiple secular growth drivers that are positively impacting our markets," said Lara Poloni, the president of AECOM, in a quarterly earnings-related press release. "These trends include a global infrastructure investment renaissance, growing demand for sustainability and resilience-related services, and post-COVID supply-chain and resource adaptation. Our clients are prioritizing investments in these areas."
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports on projects across the U.S. that are using AECOM's services.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
