OAKVILLE, ONTARIO – August 4, 2022 — Spark Power Group Inc. (TSX: SPG, SPG.WT), parent company to Spark Power Corp. (“Spark Power” or the “Company”), a leading independent provider of end-to-end electrical services, operations and maintenance services, and energy sustainability solutions to the industrial, commercial, utility, and renewable asset markets in North America, today announced that its wholly-owned subsidiary, Orbis Engineering Field Services Ltd. (“Orbis”), has been awarded a renewed multi-year capital maintenance contract (the “Contract”) by AltaLink, following an extensive competitive bid process.
AltaLink owns and operates more than 300 substations and 13,000 kilometers of transmission lines, accounting for more than half of Alberta’s transmission grid. The 3-year Contract strengthens a business partnership dating back to 2011.
“We are pleased to continue our long-standing business relationship with AltaLink,” said Richard Jackson, President & CEO, Spark Power Corp. “We appreciate the continued confidence in our field services team to be the Trusted Partner in PowerTM to deliver on this scope of work. The award of this contract renewal demonstrates Spark Power’s safe and effective service delivery on behalf of our utility clients and positions us well to continue to build relationships in this segment across North America.”
With thousands of kilometers of lines and hundreds of substations, the AltaLink network requires highly skilled workers to maintain equipment to optimize its performance. The Contract covers both capital replacement and upgrade (“CRU”) and non-capital replacement and upgrade (“non-CRU”) projects. The scope of work includes replacing substation equipment or installing new equipment and other major site upgrades that involve new control or switchgear buildings.
About Spark Power
Spark Power is a leading independent provider of end-to-end electrical services, operations and maintenance services, and energy sustainability solutions to the industrial, commercial, utility, and renewable asset markets in North America. We work to earn the right to be our customers’ Trusted Partner in Power™. Our highly skilled and dedicated people, located in the communities we serve, combined with our knowledge of the power industry, technology expertise, and commitment to safety, ensures we deliver the right solutions that keep our customers’ operations up and running today and better equipped for tomorrow. Learn more at www.sparkpowercorp.com.
Headquartered in Calgary, with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta’s largest electricity transmission provider. AltaLink is partnering with its customers to provide innovative solutions to meet the province’s demand for reliable and affordable energy. A wholly-owned subsidiary of Berkshire Hathaway Energy, AltaLink is part of a global group of companies delivering energy services to customers worldwide.
Forward looking and other cautionary statements
This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect Spark Power’s current expectations regarding future events. Forward-looking statements are identified by words such as “believe,” “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions. The forward-looking statements in this press release include statements by Mr. Jackson regarding the Company’s opportunities for future relationships with utility customers. The forward-looking statements in this news release are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Several factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Such factors include, among others factors, those discussed in the Spark Power’s Annual Information Form dated March 30, 2022, a copy of which is available under the Spark Power’s profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, Spark Power assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Investor and Regulatory Inquiries:
Richard Perri, Executive Vice President & Chief Financial Officer
+1 (905) 829-3336
Bryan Sparks, Manager, Corporate Communications & Brand
+1 (905) 829-3336