No longer the best-kept secret in the EPC industry

Article written by MasTec Clean Energy & Infrastructure Group President Mark Bader-Hellstrom

MasTec recently received some big news from Engineering News-Record (ENR) - for the first time in MasTec’s history, we were ranked on their Top 400 Contractors list. ENR ranked our company as the third-largest contractor and the largest power contractor in the U.S. This recognition reflects the growth and scale of both our business and the markets in which we compete.

Why participate in the ENR Top 400 Contractors rankings?

Prior to this year, MasTec participated in ENR’s Top 600 Specialty Contractors list, which reflected the heritage and traditional focus of our business. But MasTec and the markets we serve have evolved in a couple of important ways that motivated our switch to the Top 400 Contractors rankings.

First, with the acquisitions of Henkels & McCoy and IEA within a 10-month period, our business has grown significantly. Participating in ENR’s Top 400 Contractors rankings makes us eligible for listing in ENR’s Sourcebook, which will allow our organization to be recognized as one of, if not the largest, contractors in markets ranging from solar and wind to pipelines, transmission and distribution (T&D), communications and more. Our team has built industry-leading businesses in these markets, and we feel it is important they be recognized.

Secondly, our markets are evolving, particularly in the energy transition and advanced manufacturing sectors. Per the Financial Times, there have been $200 billion in project announcements since the passage of the Inflation Reduction Act and the Chips and Science Act. These include project types that are completely new, such as carbon capture and hydrogen hubs. However, many of the individual components of a hydrogen hub project, such as renewable power generation, T&D and pipelines are not new. And they are certainly not new to MasTec; we have delivered 42,000 megawatts of renewable power generation alone.

The recognition of our stature as a contractor with a $6.5 billion a year and growing power and energy business alone helps establish our identity in a marketplace where we will potentially be working with clients for the first time. It also allows us to highlight to clients the experience and expertise we can bring to their projects.

This isn’t strictly about marketing and branding. Our focus has never been, nor will be, about marketing - it is about delivering results for our clients and shareholders while building a business that the entire MasTec organization can be proud of. Our best marketing is consistently delivering results for our clients over time. But it is important that we tell our story, and a big part of this story is our growth from humble beginnings as a small South Florida-focused utility contractor to a national contractor that is a recognized leader in some of the biggest and fastest-growing market sectors.

The forefront of the nation’s energy transition

This growth has positioned us to be an early leader in a market that is part of one of the biggest economic changes of our lifetime. Late in 2022, MasTec launched an Energy Transition Solutions (ETS) group that draws on our expertise and allows us to provide clients with construction-informed engineering services during project development, as well as flexibility and scalability in project delivery. From construction management to full engineering procurement and construction (EPC) delivery, to self-performing select scopes of work, we can scale and adapt to fit each client’s individual project needs.

Our ETS team is already delivering projects like the previously announced revolutionary Lithium-ion battery recycling plant in New York. Additionally, we will be providing construction management services for the next generation of carbon capture, sequestration and transport pipelines and the evolving hydrogen hub, power generation, and related pipeline transport services.

MasTec’s ranking in ENR’s Top 400 Contractors is an acknowledgment of the growth of our company. We have built one of the largest contractors in the U.S., and the entire MasTec team should be proud of who they work for and what we are capable of as an organization. But we are still at the beginning, not the end, of the journey. MasTec looks forward to playing a leading role in the energy transition, rebuilding America’s infrastructure and building out 5G telecommunications networks – all of which will have a transformative impact on our country.

Thank you to the entire MasTec team, and congratulations on this important acknowledgment of the results of your collective work.