Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 466

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 466
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 storage and other clean energy technologies.  Our Clean Energy and Infrastructure segment has grown significantly from $300 million in revenue for 2017 to approximately $4.1 billion in revenue for the year ended December 31, 2024.  Our renewable and other clean energy technologies business, which represented approximately 3%, or $170 million of our consolidated revenue in 2017, has grown to approximately 17%, or $2 billion of our consolidated revenue in 2024.  As interest in sustainable energy sources and solutions to mitigate the effects of climate change continues to increase, including a national focus on the reduction of carbon emissions and the decarbonization of power generation toward cleaner energy sources, we anticipate expanding growth opportunities for clean energy infrastructure.  Assuming these trends continue, we believe that great opportunity lies ahead as we help our customers address these changing market demands and the transition toward cleaner, lower carbon and more sustainable energy sources.

Power delivery infrastructure.  We believe the nation’s electrical transmission and distribution grid infrastructure will require significant capital investment to support the transition toward cleaner and more sustainable renewable power sources, resulting, in part, from the surge in electrification, including from artificial intelligence-related data center demand and the acceleration of electrification across transportation, industrial processes and homes.  We build the infrastructure that connects our nation’s power generation sources to consumers, including infrastructure solutions that link remotely located renewable electric generation capacity to energy consumers and provide access to new renewable and efficient natural gas and other power generation sources.  We also work with our customers to design and build innovative, smart energy solutions, including modernization of overstressed sections of the electric grid with insufficient capacity, electric grid hardening, wildfire mitigation and restoration services and the upgrade of aging electric infrastructure.  Our projects improve the performance, safety, resiliency and efficiency of the nation’s electrical grid and advance the goal of modern, smart energy solutions for our nation’s future that will contribute to the diversification of power generation sources as the nation continues to transition toward cleaner, lower-carbon and more sustainable energy sources.

Telecommunications infrastructure.  We build wireless and wireline/fiber infrastructure that connects communities and improves communications infrastructure across our nation.  Demand for telecommunications infrastructure has accelerated in recent years, including from increased usage of mobile and remote technologies, video streaming, acceleration of business transacted online, artificial intelligence demands and from advancements in the IoT.  Technological advances that improve speed, connectivity and bandwidth across our nation, including in dense urban areas and in rural communities, are expected to serve as the