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MYR Group Inc. Subsidiary Awarded Design-Build Electric Distribution Master Service Agreement with Xcel Energy
THORNTON, Colo., July 14, 2025 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the
About this update from Myr Group, Inc.
[{"type":"text","content":"THORNTON, Colo., July 14, 2025 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced that an MYR Group subsidiary has executed a five-year Design-Build Electric Distribution Master Service Agreement (MSA) with Xcel Energy Inc. (Xcel Energy). The MSA includes turnkey, design-build distribution services including, permitting, right of way, public outreach, design and construction in Xcel Energy’s service territories across multiple states. The contract is effective through 2029, and it is anticipated that work under this MSA will be in excess of $500 million over the five-year period. “We are proud to have been awarded an MSA as part of this significant program,” said Rick Swartz, President and Chief Executive Officer of MYR Group. “This opportunity not only enhances our nearly 70-year relationship with Xcel Energy but also allows us to deploy our high-performing teams with a strong track record of successful project execution. We look forward to supporting Xcel Energy’s critical initiatives in wildfire mitigation, capacity expansion, and infrastructure modernization. This award also reflects the tremendous investments being made in our nation’s infrastructure, demonstrating the strength of the market and why we believe our business is poised for continued success.” About MYR Group Inc. MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility o...