Fluor 2014 Annual Report Download - page 25

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2014 Power milestones include:
Gas
• Awarded two major combined-cycle projects for a client in the
United States. The bidding process was extremely competitive,
and we set ourselves apart by offering a fully integrated solution.
• Completed the 540-megawatt LCRA Ferguson Replacement
Project in Texas.
• Continued work on Dominion Brunswick, an immense
3-on-1 combined-cycle plant in Virginia. The project is
about 40% finished, on schedule and on budget.
Nuclear
• Continued work on North Anna 3 for Dominion in Virginia.
This is a significant nuclear project in the United States and a
testament to Fluor’s experience and capability.
• Awarded a new piping project in the United Arab Emirates,
due to being one of the few companies that has ASME
M-stamps and local construction experience.
• Signed an agreement with the Department of Energy that
provides $217 million over five years to support the development,
licensing and commercialization of NuScale’s technology.
• Signed a memorandum of understanding with China National
Nuclear Corporation to cooperate on nuclear and renewable
energy opportunities in Europe and China.
Renewables
• Completed the 170-megawatt Centinela solar project in
California, on budget and on schedule.
Operations & Maintenance
• Won the contract to provide integrated services for Pacific Gas
& Electric’s Diablo Canyon nuclear site. We grew this business
from a limited role to taking full responsibility for the site.
• We continued work with existing long-term clients, including
Luminant and Southern Company. We are also seeing
increased bid activity, indicating a trend toward more
companies wanting to turn their operation and maintenance
over to a specialized company like Fluor.
The
Outlook
Fluor has served the power industry for
more than 40 years. During the last gas
wave, we successfully executed more than
30 projects. No other company has worked
on this scale. As the world moves ever
more resolutely toward gas and nuclear,
we are the preferred project partner.
We see gas-fired and nuclear markets as long-term
opportunities for Fluor, supported by our strong
capabilities in renewables and services. We will also continue
to build our business beyond North American borders,
expanding upon our current pursuits in the United Kingdom,
South Africa and Brazil.
2014 ANNUAL REPORT 23
2012
2013
2014
NEW AWARDS BACKLOG
0.9
1.9
1.5
2.0
2012
2013
2014
-17
12
31
1.1
2.1
NEW AWARDS AND BACKLOG SEGMENT PR O FIT
(Dollars in Billions) (Dollars in Millions)
Power
Power