TULSA, Okla., Feb. 4, 2015 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq:MTRX) announced today that TransCanada Energy Ltd., a subsidiary of TransCanada Corporation (TSX:TRP) (NYSE:TRP) has awarded Matrix North American Construction Ltd. a contract for the construction of the Napanee Generating Station (NGS), a new 900 megawatt (MW) combined cycle gas-fuelled power generation station located in the Town of Greater Napanee adjacent to the Ontario Power Generation's Lennox Generating Station in eastern Ontario.
"We take great pride in our long-standing relationship with TransCanada," said John Hewitt, CEO of Matrix Service Company. "This significant project award is a key strategic milestone for Matrix Service Company and demonstrates the depth and breadth of our relationship with TransCanada and the trust TransCanada places in Matrix to meet exacting standards of safety and quality in completing their critical infrastructure projects."
Construction is expected to begin in February 2015.
"TransCanada is proud to partner with Matrix Service Company in building the Napanee Generating Station," said William Taylor, Executive Vice-President and President, Energy for TransCanada. "The facility will be a critical piece of Ontario's power system, with the capacity to supply enough power for approximately 900,000 homes. Selecting our general contractor is an important milestone for this project and we look forward to working with Matrix throughout the construction of the facility."
NGS will ensure greater reliability of Ontario's electrical system by replacing retired coal and nuclear capacity, supporting nuclear refurbishment and providing a source of on-demand power to backstop wind and solar resources. NGS will use the latest in generating and environmental controls technology which will make it one of the most efficient and cleanest generating stations in Ontario.
About Matrix Service Company
Matrix Service Company provides engineering, fabrication, construction and repair and maintenance services to the Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial markets.
The Company is headquartered in Tulsa, Oklahoma, with regional operating facilities throughout the United States and Canada, including the Burlington, ON office from which the NGS project will be managed. To learn more about Matrix Service Company, visit matrixservicecompany.com.
About TransCanada
With more than 60 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 68,500 kilometres (42,500 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with more than 400 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns or has interests in over 11,900 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest liquids delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit TransCanada.com and our blog to learn more, or connect with us on social media and 3BL Media.
This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as "anticipate," "continues," "expect," "forecast," "outlook," "believe," "estimate," "should" and "will" and words of similar effect that convey future meaning, concerning the Company's operations, economic performance and management's best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including those factors discussed in the "Risk Factors" and "Forward Looking Statements" sections and elsewhere in the Company's reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company's operations and its financial condition. We undertake no obligation to update information contained in this release.