Jacobs to Support Renewable Energy Project in the Philippines
Rhea-AI Summary
Jacobs (NYSE: J) has been selected by Terra Solar Philippines to deliver engineering services for a major renewable energy project worth $3.3 billion. The project includes a 3,500-megawatt solar panel and 4,500-megawatt battery energy storage system, set to become one of the world's largest solar farms. Located 93 miles north of Manila across 11.5 square miles, the project is expected to supply approximately 12% of the Philippines' total energy demand. Jacobs will employ advanced digital construction management tools and drone technology while overseeing supply chain logistics and equipment delivery.
Positive
- Project value of $3.3 billion represents significant revenue opportunity
- Scale of project positions Jacobs as leader in renewable energy engineering
- Company ranked #2 in Power, Solar Power and Wind Power by Engineering News-Record in 2024
Negative
- None.
News Market Reaction
On the day this news was published, J declined 1.34%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Solar and battery project will help the country's need for more sustainable energy sources
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Jacobs will use advanced digital construction management tools and drone technology to manage field tasks, streamline site inspections and track progress across the 11.5 square mile (3,000 hectare) site located 93 miles (150 kilometers) north of
"We are excited to be working with Jacobs in this ambitious and pioneering project," said MGEN Renewable Energy Inc. President Dennis B.
MGEN Renewable Energy, Inc. (MGreen) is the renewable energy arm of Meralco PowerGen (MGEN), which owns a controlling stake at SPNEC.
Around the globe, Jacobs is working on energy projects that help evolve energy systems, networks and infrastructure to form the backbone of prosperous communities and economies now, and into the future. For instance, in
Jacobs is ranked No. 2 in Power, Solar Power and Wind Power by Engineering News-Record in 2024.
At Jacobs, we're challenging today to reinvent tomorrow – delivering outcomes and solutions for the world's most complex challenges. With approximately
Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," and similar words are intended to identify forward-looking statements. We base these forward-looking statements on management's current estimates and expectations, as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements including, but not limited to, uncertainties as to the impact of the recently completed separation transaction pursuant to which we spun off and merged our Critical Missions Solutions and Cyber & Intelligence government services businesses with Amentum (together, "new Amentum ") on Jacobs' and new Amentum's businesses, the timing of the award of projects and funding and potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act and other legislation related to governmental spending, as well as general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets, the possibility of a recession or economic downturn, increased uncertainty and risks, including policy risks and potential civil unrest, relating to the outcome of elections across our key markets and elevated geopolitical tension and conflicts, among others, and the impact of any future pandemic or infectious disease outbreak, including the related reaction of governments on global and regional market conditions, among others. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recently filed Annual Report on Form 10-K, and Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Item 1 - Legal Proceedings; and Item 1A - Risk Factors in our most recently filed Quarterly Report on Form 10-Q, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
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SOURCE Jacobs
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