What's Happening?
Balfour Beatty has appointed Hercules plc to its preferred supplier list for power transmission and distribution projects. Hercules will provide labor for substation, cabling, and civil works across the UK. This appointment follows Hercules's expansion in the energy sector through acquisitions, including Advantage NRG and a majority stake in Lyons Power Services. Balfour Beatty, experiencing increased workloads in power transmission, anticipates further growth and has included Hercules in its strategic investment framework.
Why It's Important?
This partnership strengthens Hercules's position in the energy sector, allowing it to leverage its recent acquisitions to support major infrastructure projects. For Balfour Beatty, securing reliable suppliers is crucial to meeting
the growing demand for energy infrastructure. The collaboration highlights the importance of strategic partnerships in addressing the challenges of expanding energy needs and infrastructure development. It also underscores the role of acquisitions in enhancing a company's capabilities and market presence.
