On Thursday, government contractor Engility (NYSE:EGL) announced it has been selected a prime contractor to support a five-year, $350 million U.S. Agency for International Development effort aimed at improving access to reliable and affordable clean energy.
Engility's wholly owned International Resources Group subsidiary will be competing to win "task orders" as USAID sends out requests for preapproved bidders to perform them. The $350 million ceiling value refers to the maximum value of all contracts that USAID can award to all contractors bidding to perform the work over the course of five years.
As regards the task orders themselves, they will be aimed at improving "access to reliable and affordable clean energy" in the "non-critical priority" countries in which USAID is operating. The organization is also looking to "improve regulation and governance in the energy sector, demonstrate the use of innovative technologies and business models, and assist with the transition to a low carbon development trajectory."
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.