ScottishPower, a subsidiary of Iberdrola company, has recently announced the opening of tenders for contracts worth nearly $7 billion. These contracts are for electricity network projects and are being offered by ScottishPower’s grid business, SP Energy Networks. In a statement released on Monday, the company stated that it is encouraging companies to bid for contracts to design, develop, and upgrade new and existing transmission infrastructure.
The contracts, valued at £5.4 billion ($6.89 billion), will cover a range of projects including the construction of new high-voltage substations, overhead line construction, as well as design, engineering, construction, and electrical works. According to ScottishPower Chief Executive Keith Anderson, these projects represent the largest overhaul of the grid since its inception. He also mentioned that the investment plans will not only help grow their electricity networks and workforce but will also provide significant opportunities for the supply chain and contribute to the growth of the wider economy.
The contracts will have a duration of five years with the possibility of extension for a further five years. Furthermore, these projects will be spread across central and southern Scotland. ScottishPower is now inviting interested parties to participate in the bidding process.
