Quanta Services selected by NiSource for 3 gigawatt power project

Quanta Services Inc. (NYSE: PWR) announced it has been selected by NiSource Inc. to design, procure and construct generation and infrastructure resources capable of producing approximately 3 gigawatts of power for a large load customer.

The project will be executed through a joint venture between Quanta and Zachry Group, with each company holding a 50% ownership interest. Zachry will lead engineering, project management and commissioning for the combined cycle gas turbines, while Quanta will provide field-level leadership and craft-workforce management across civil, structural, mechanical, electrical and controls infrastructure.

The scope and estimation phase has begun, with execution expected to start in 2026 following regulatory approvals. Power generation capacity delivery is planned in phases through project completion, with full power availability expected by 2032.

"NiSource is committed to advancing transformative growth while ensuring that customer affordability remains at the heart of our strategy," said Lloyd Yates, NiSource's President and Chief Executive Officer.

Quanta simultaneously announced the expansion of its total solutions platform for power generation, building on its experience constructing more than 80,000 megawatts of power generation through renewable energy and battery energy storage solutions.

The company expects to recognize the financial contribution from the joint venture through proportionate consolidation. The remaining performance obligations and backlog for this project are expected to be primarily reflected in the Electric Infrastructure Solutions segment and recognized over multiple quarters.

Zachry Group brings experience from designing and constructing over 100 gas-fired power facilities comprising more than 60,000 megawatts over five decades, according to the company statement.

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