Fluor Signs MOU with Clean Line Energy for 800-Mile Transmission Line

Tuesday, December 13, 2011 8:37 am EST

Dateline:

IRVING, Texas

Public Company Information:

NYSE:
FLR
US3434121022
"Fluor continues to play a vital role in the renewables energy space and we are excited to assist Clean Line Energy with the development of this unique transmission line project"

IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that it has signed a memorandum of understanding with Plains and Eastern Clean Line LLC (Clean Line), an affiliate of Clean Line Energy Partners LLC, to provide development support, preliminary engineering, procurement and construction services (EPC) for the proposed Plains & Eastern Clean Line project, which is an 800-mile high-voltage direct current (HVDC) transmission line from Oklahoma to Tennessee and is currently in the development and permitting stages.

As part of Fluor’s MOU with Clean Line, the company—with Pike Electric Corporation as a subcontractor to Fluor—will provide initial permitting and development support services for the project. After the project has received all permits and regulatory and financial approvals, Fluor and Pike will provide the full EPC services for the transmission line project. The Plains & Eastern Clean Line will consist of approximately 800 miles of overhead HVDC transmission lines that will deliver 3,500 megawatts of power from Oklahoma, Texas and Kansas to the southeastern United States.

“Fluor continues to play a vital role in the renewables energy space and we are excited to assist Clean Line Energy with the development of this unique transmission line project,” said Dave Dunning, president of Fluor’s Power Group.

“Clean Line is committed to working with local businesses and vendors and our agreement with Fluor will help us build the supply chain around this project that will benefit the communities in our project area,” said Michael Skelly, president of Clean Line Energy Partners. “We are very pleased to select a firm of Fluor’s stature as our EPC Alliance partner. Fluor’s experience and expertise building large infrastructure projects will help us fulfill our mission of tapping Oklahoma’s energy resources.”

The completion of the Plains & Eastern Clean Line transmission project will make possible an estimated $7 billion of new renewable energy projects that otherwise may not be built due to limitations of the existing electric transmission grid. The Plains & Eastern Clean Line will create thousands of jobs and increase state and local tax revenues. The project is expected to take several years to fully permit and could begin commercial operations as early as 2017.

About Clean Line Energy Partners

Clean Line’s mission is to connect abundant, renewable energy resources to areas that have a high demand for clean, reliable energy. Clean Line is developing a series of long distance high voltage direct current transmission projects to move renewable energy to market. For more information please visit www.cleanlineenergy.com.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $20.8 billion in 2010. For more information, visit www.fluor.com.

Contact:

Fluor Corporation
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Keith Stephens, 469-398-7624
or
Brian Mershon, 469-398-7621
or
Investor Relations:
Ken Lockwood, 469-398-7220
or
Jason Landkamer, 469-398-7222

   

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