•LUMA Energy, LLC (LUMA), 50% owned by Quanta and 50% owned by ATCO, has been selected for this historic opportunity-the transformation and modernization of the Puerto Rico electric transmission and distribution (T&D) system, in order to provide significant benefits to the people of Puerto Rico through an Operation and Maintenance Agreement (O&M Agreement) with the Puerto Rico Electric Power Authority (PREPA) and the Puerto Rico Public-Private Partnership Authority (P3), •LUMA is a purpose-built company that leverages the strengths of Quanta, ATCO and IEM, including world-class utility operations; craft-skilled labor training and management; and federal funds procurement, management and deployment, •LUMA's O&M Agreement is consistent with Quanta's long-term strategy, •Long-term, contracted agreement that is expected to provide a visible, recurring and resilient cash flow and earnings stream, •LUMA earns a fixed fee for service plus opportunity to earn annual incentive fees based on achievement of performance metrics. Selected by the Puerto Rico Public-Private Partnerships Authority, LUMA will transform the system over a term of 15 years. The company's filing status is listed as Active and its File Number is 447032-1511. LUMA is committed to high standards of transparency, integrity, safety and operational excellence. Quanta Services is a leading specialized contracting services company, delivering comprehensive infrastructure solutions for the electric power, energy … More information can be found at www.canadianutilities.com.  . ATCO and Quanta form LUMA to Transform Puerto Rico's Electricity System News provided by. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. For more information, please visit www.IEM.com. LUMA competed for and was formally selected by the P3 to be the operator for the agreement in June 2020. This facility is intended to provide world class, customized curriculum and training to LUMA utility workers and the next generation of Puerto Rico's skilled workforce, contributing to sustainable economic development locally. These forward-looking statements include any statements reflecting Quanta's expectations, intentions, strategies, assumptions, plans or beliefs about future events or performance or that do not solely relate to historical or current facts. In Puerto Rico, the duty to oversee the public and private sector is the Energy Bureau, and that entity will have to review the public-private partnership’s concession of the transmission and distribution system, according to PREPA’s privatization model being developed after Rossello announced it, to allegedly make the electrical system more efficient, reliable and modern. These conditions include completion of LUMA's preparation for operations, as well as the completion of certain governmental responsibilities related to the administration of the contract. Forward-looking statements involve certain risks, uncertainties and assumptions that are difficult to predict or beyond Quanta's control, and actual results may differ materially from those expected, implied or forecasted by our forward-looking statements due to inaccurate assumptions and known and unknown risk and uncertainties. Nuestras empresas matrices, ATCO y Quanta Services, Inc., tienen una larga y exitosa historia trabajando con sindicatos. Additional information can be found on the P3 website at http://www.p3.pr.gov/. ATCO Ltd. Jun 22, 2020, 15:49 ET. HOUSTON, June 22, 2020 /PRNewswire/ -- Quanta Services, Inc. (NYSE: PWR) announced today that LUMA Energy, LLC (LUMA), a joint venture between Quanta Services (Quanta) and Canadian Utilities Limited, an ATCO Ltd. Company (ATCO), in conjunction with Innovative Emergency Management, Inc. (IEM), has been selected by the Puerto Rico Public-Private Partnership Authority (P3) for a 15-year … HOUSTON, June 22, 2020 /PRNewswire/ -- Quanta Services, Inc. (NYSE: PWR) announced today that LUMA Energy, LLC (LUMA), a joint venture between Quanta Services (Quanta) and Canadian Utilities Limited, an ATCO Ltd. Company (ATCO), in conjunction with Innovative Emergency Management, Inc. (IEM), has been selected by the Puerto Rico Public-Private Partnership Authority (P3) for a 15-year Operation and Maintenance Agreement (the O&M Agreement) with the Puerto Rico Electric Power Authority (PREPA). Forward-looking statements involve certain risks, uncertainties and assumptions that are difficult to predict or beyond Quanta's control, and actual results may differ materially from those expected, implied or forecasted by our forward-looking statements due to inaccurate assumptions and known and unknown risk and uncertainties. Key features of the LUMA value proposition include: Additionally, LUMA's owners have committed to fund and open a state-of-the-art line worker and technical training campus in Puerto Rico, to be operated by Quanta's accredited postsecondary educational institution - Northwest Lineman College. 31, 2020 and other documents filed with the Securities and Exchange Commission (SEC), which are available on our website (, uncertainties and assumptions identified in this presentation. PREPA retains ownership of the electric T&D system and LUMA is not required to make capital investments in the electric T&D system, Electric T&D system operating costs and capital expenditures are pass-through and paid from pre-funded service, Quanta believes there is opportunity for it to compete for work associated with Puerto Rico's grid modernization efforts, that are separate from its ownership interest in LUMA, Successful collaboration with a customer to deliver unique infrastructure solutions that can serve as a blueprint for future, To that end, Puerto Rico government agencies pursued a partnership with a private entity for a long-term agreement to operate and maintain, entire electric transmission and distribution (T&D) system and to lead the transformation of PREPA. FILE - In this July 29, 2015 file photo, the Puerto Rican flag flies in front of Puerto Rico's Capitol as in San Juan, Puerto Rico. About IEMInnovative Emergency Management (IEM) is a global homeland security and disaster management consulting firm dedicated to building a safe, secure and resilient world. Calgary-based ATCO and Houston-based Quanta Services announced Monday after markets closed they had won the right to update and operate the Puerto Rico Electric Power Authority, which includes over 30,000 kilometres of power lines that provide electricity to 1.5 million Puerto Ricans. approval & final transaction documents, LUMA TO UNDERTAKE HISTORIC TRANSFORMATION OF PUERTO RICO T&D SYSTEM, LUMA's Expected Benefits to the People of Puerto Rico, LUMA is a purpose-built company that has been designed to help provide the people and communities of Puerto Rico with a resilient, reliable and sustainable electric T&D system, while also delivering outstanding customer service. In response to the devastation of the island and its electric power system caused by hurricanes in 2017, as well as other challenges faced by PREPA, in June 2018, Puerto Rico began a historic process intended to transform and further modernize the electric power grid and PREPA into an organization that is (1) customer-centric, (2) affordable, (3) reliable, (4) resilient, and (5) sustainable. Quanta's (PWR) JV LUMA Wins 15-Year O&M Contract From P3 - June 23, 2020 - Zacks.com Additional information can be found on the P3 website athttp://www.p3.pr.gov/. We can manage a project from beginning to end, no matter how big or small. President, Quanta Services Puerto Rico Quanta Services, Inc. Nov 2020 – Present 1 month. Quanta's comprehensive services include designing, installing, repairing and maintaining energy and communications infrastructure. Therefore, Quanta will not recognize revenues and operating expenses related to LUMA on its income statement, but will record its 50% portion of LUMA's earnings within "Equity in Earnings of Unconsolidated Affiliates" on its income statement. Quanta Services and ATCO-Led Consortium Selected by the Puerto Rico Public-Private Partnership Authority for the Operation and Maintenance of Puerto Rico… Financial CommentaryQuanta's ownership interest and participation in LUMA will be accounted for as an equity method investment due to Quanta's equal ownership in and management of LUMA with ATCO. IEM integrates science, technology and real-world experience to provide customers with solutions that work and outcomes that matter. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this presentation or otherwise, and Quanta expressly disclaims any written or oral statements made by any third party regarding the subject matter of this presentation. As a result of equity method accounting, Quanta does not expect to include LUMA's estimated future revenues, of which 50% would be Quanta's proportionate amount, in its remaining performance obligations and backlog. As the largest woman-owned homeland security and emergency management firm in the world, IEM provides services and expertise at every stage of the emergency management cycle — from preparedness and prevention / protection to mitigation, response and recovery. A federal control board that oversees Puerto Rico’s finances submitted a proposed $10 billion budget on Thursday, June 11, 2020, as federal legislators debate whether to curtail the board’s power over the U.S. territory. Free and open company data on Puerto Rico company QUANTA SERVICES PUERTO RICO, LLC (company number 413951-1511), c/o Fast Solutions, LLC, Citi Tower, 252 Ponce de Leon Avenue, Floor 20 San Juan, PR 00918 For a discussion of these risks, uncertainties and assumptions, investors are urged to refer to Quanta's documents filed with the SEC that are available through the company's website at www.quantaservices.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov. Headquartered in Puerto Rico, LUMA was formed by Quanta Services, Inc (Quanta) and ATCO Ltd. (ATCO): Quanta is a leading infrastructure solutions provider for the electric power, pipeline, industrial and communications sectors in North America. With operations throughout the United States, Canada, Australia and select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope. Plans to quickly privatize Puerto Rico's hurricane-damaged electrical power system have hit a snag with the U.S. territory's House and Senate at … Quanta anticipates providing supplemental information regarding its pro-rata portion of LUMA's operations in its future earnings releases and other public investor communications. ET on Zacks.com Puerto Rico Puts Private Firms in … • LUMA has made a strong commitment to Puerto Rico's utility workforce through developing and managing a state-of-the-art line worker and technical training campus in Puerto Rico. Houston, Texas 77056, Unmatched Capabilities across North America and beyond, http://www.prnewswire.com/news-releases/quanta-services-and-atco-led-consortium-selected-by-the-puerto-rico-public-private-partnership-authority-for-the-operation-and-maintenance-of-puerto-ricos-electric-power-transmission-and-distribution-system-301081318.html. Through LUMA, Quanta intends to operate a world-class electric grid and develop a modern, highly trained craft-skilled workforce for the future of Puerto Rico. For more information, visit www.quantaservices.com. LUMA's selection by the P3 for the O&M Agreement has received all necessary final regulatory and government approvals and follows a competitive process that lasted for more than a year. Jun. LUMA Energy LLC (LUMA), a newly-formed company owned 50 per cent by Canadian Utilities Limited (Canadian Utilities), an ATCO company, and 50 per cent by Quanta Services (Quanta), announced today that LUMA has been selected by the Puerto Rico Public-Private Partnerships Authority (P3 Authority) to modernize and operate Puerto Rico's electric transmission and distribution (T&D) … Market-leading bond managers have been wary of Puerto Rico for several years while its finances deteriorated and it entered a court-supervised bankruptcy proceeding in 2017. Quanta Services (PWR) is set to deliver long-term social and economic benefits to the people of Puerto Rico. forward-looking statements, which are current only as of the date of this presentation. To that end, Puerto Rico government agencies pursued a partnership with a private entity for a long-term agreement to operate and maintainPREPA'sentire electric transmission and distribution (T&D) system and to lead the transformation of PREPA. •LUMA is taking a tailored approach to the implementation of plans for emergency preparedness and response and the further modernization of the T&D system, •LUMA expects improved electricity affordability for the people and businesses of Puerto Rico over time and improving customer service and reliability programs, •LUMA will seek to create economic benefits that attract businesses, create job opportunities and improve quality of life in Puerto Rico, •LUMA will leverage its extensive experience with federal funding procurement, management and deployment, •LUMA has made a strong commitment to Puerto Rico's utility workforce through developing and managing a state-of-the-artline worker and technical training campus in Puerto Rico. The Registered Agent on file for this company is The Prentice-Hall Corporation System, Puerto Rico, Inc. and is located at C\/O Fast Solutions Llc Citi Tower Floor, San Juan PR-00. Quanta further expressly disclaims any written or oral statements made by any third party regarding the subject matter of this press release. LUMA competed for and was formally selected by the P3 to be the operator for the agreement in June 2020. We are honored to have Admiral Peter Brown at the NLC Florida campus today — look forward to collaborating with him on workforce development initiatives to benefit the people of Puerto Rico. Electric Transmission & Distribution System, This presentation (and oral statements regarding the subject matter of this presentation) includes forward-looking statements intended to qualify under the"safe harbor"from liability established by the Private Securities Litigation Reform Act of 1995. Quanta Services (PWR) is set to deliver long-term social and economic benefits to the people of Puerto Rico. Quanta Services (PWR) Insiders Make Significant Share Sales ending the Trend .. CHINA STATE CONSTRUCTION ENGINEERING CORPORATION LIMITED, President, Chief Executive Officer, COO & Director. About Canadian Utilities.With approximately 4,600 employees, assets of $20 billion, and two million customers around the world, Canadian Utilities Limited, an ATCO company, is a diversified global energy infrastructure corporation delivering essential energy services, service excellence and innovative business solutions in Utilities (electricity and natural gas transmission and distribution), Energy Infrastructure (electricity generation, energy storage, and industrial water solutions); and Retail Energy (electricity and natural gas retail sales). Investors and analysts should not place undue reliance onQuanta's. During the transition period, LUMA will work collaboratively with PREPA and the government of Puerto Rico to complete numerous steps necessary to ensure a smooth transfer and begin the historic opportunity to modernize the T&D system and transform PREPA. LUMA will receive a fixed Front-End Transition Service Fee and reimbursement of labor costs, third party consulting fees and out-of-pocket expenses incurred for transition services. By bringing together Quanta's industry leading electric utility services and project execution, ATCO's operational excellence and customer service expertise as a utility provider and IEM's unparalleled experience in federal funds management, we have created a purpose-built and effective operator for the Puerto Rico T&D system and the people of Puerto Rico. The company's filing status is listed as Active and its File Number is 413951-1511. For additional information concerning some of the risks, uncertainties, assumptions and other factors that could affect our forward-looking statements, please refer to, Annual Report on Form 10-K for the year ended Dec. 31, 2019, Quarterly Report on Form 10-Q for the quarter ended Mar. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The campus will be operated by Quanta's accredited postsecondaryeducational institution - Northwest Lineman College - and plans to offer world-class, customized curriculum and training to, LUMA utility workers and the next generation of Puerto Rico's skilled workforce, DESIGNED TO DELIVER SIGNIFICANT BENEFITS TO THE PEOPLE OF PUERTO RICO, Quanta Services Inc. published this content on 22 June 2020 and is solely responsible for the information contained therein. Located in Houston, Quanta had revenues last year of $12.1 billion and more than 40,000 employees.6 It Research Triangle Park, NC, June 22, 2020 – LUMA Energy, LLC, a newly created company composed of ATCO Ltd. (ATCO) and Quanta Services, Inc. (Quanta) – and supported by IEM – was selected by the Puerto Rico Public-Private Partnerships Authority (P3) to restore, upgrade, and manage Puerto Rico’s electric transmission and distribution (T&D) system for a term of 15 years. 31, 2020 and any other documents that Quanta files with the Securities and Exchange Commission (SEC). Quanta Services provides end-to-end solutions across the various industries we serve. Quanta Services and ATCO-Led Consortium Selected by the Puerto Rico Public-Private Partnership Authority for the Operation and Maintenance of Puerto Rico… 23, 2020 at 9:43 a.m. This Collaboration is Consistent with Quanta's Strategic Plan and is Expected to Provide Compelling and Visible Long-Term Financial Contributions. 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