January 27 (SeeNews) - US-based provider of consulting and engineering services Tetra Tech said that the U.S. Agency for International Development (USAID) has awarded it with an additional $42 million (38.6 million euro) to its single-award, four-year contract to strengthen energy security in Moldova.
The additional funds come as a ceiling increase to Tetra Tech’s initial $17 million contract awarded by USAID in March 2022, the company said in a press release on Thursday.
Through the USAID Moldova Energy Security Activity, Tetra Tech will help integrate Moldova’s power grid and electricity market with the European system to catalyse a regional electricity market and support competitive procurement of clean energy, the company said.
On January 5, 2022, USAID announced that it was providing Moldova with $30 million in direct budgetary support to help tackle the rise in energy prices caused by Russia's war on Ukraine.
NASDAQ-listed Tetra Tech serves global commercial and government clients focused on water, environment, sustainable infrastructure, renewable energy and international development. The company currently has a market capitalisation of around $8.2 billion, according to NASDAQ data.