Tempo Australia ups the ante in resurgent solar market

Tempo Australia ASX TPP solar market

Renewable energy provider Tempo Australia (ASX: TPP) has won a series of new construction and maintenance contracts worth around $11 million and has told the market it expects to secure a further $23 million in revenue from new solar projects across Australia.

The news comes hot on the heels of recent news of Tempo securing $6 million in commercial contracts across South Australia and Western Australia.

Tempo announced it received $11 million in firm contracts and has received several binding letters of intent within the industrial, commercial and telecommunications sectors, beginning with the execution of a five-year Master Service Agreement (MSA) for maintenance of telecommunication network for a leading international mobile network manager.

The MSA follows on from a similar MSA previously awarded to Tempo for the Vodafone network.

Tempo has also secured a one-year MSA to supply electrical services for Cushman & Wakefield, a US real-estate company currently expanding its national infrastructure.

Tempo will also be delivering electrical maintenance services for the City of Vincent in Western Australia until 2019.

Finally, Tempo has revealed another 5-year MSA for a “leading international mobile network manager to deliver construction services and testing of telecommunication towers” following the MSA previously awarded to carry out distributed antenna system work.

Max Bergomi, Tempo’s CEO and Managing Director said the recent contract awards were an encouraging sign for the company whose new national approach was delivering greater efficiencies for clients.

“We are pleased to be continuing to broaden our client base and provide new and existing clients with the advantage and efficiencies that result from planning and dispatching services from our National Operations Centre in Sydney,” Mr Bergomi said.

Future intentions

In addition to its haul of $11 million in forthcoming contracts, Tempo has also announced two binding letters of intent totalling $23 million from a leading International Power Company (IPC).

According to Tempo, it has entered discussions to be the supplier and installer of a high voltage substation for a 100-megawatt solar farm. Its responsibilities will include the engineering and construction of a 35-megawatt solar farm, including mechanical, electrical and civil works and an HV substation.

The commencement of works is subject to the IPC reaching agreement on a Power Purchase Agreement as part of the Victorian Renewable Energy Auction Scheme, expected in Q3 2018.

“These letters of intent are a validation of our large project service offering and the work that has occurred over the past 12 months to develop relationships with key partners in the renewable and power energy space,” said Mr Bergomi.

“Tempo has been actively engaged in a tendering phase while markets have been in a state of delay, and we’re optimistic that these recent wins are a sign of what’s to come in 2018,” he added.

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