Her projects have included the £70m redevelopment of the Royal Albert Hall in London, and a revamp at the Wimbledon lawn tennis club. Her firm is now reported to make £96m a year turnover.
Elsa Corbineau, brand director of Veuve Clicquot said Ms McDowell is an inspiration to all aspiring and up and coming entrepreneurs.
She said: "Michelle has proven that commercial success can be achieved alongside acting as an ethical business and it is wonderful to see a stand out business woman actively championing the next generation of female entrepreneurs."
Ms McDowell wants to see more women with jobs in engineering and strongly promotes the trade: "Women are scarce, perhaps it's the image of construction - dirty, muddy boots; an unreconstructed working environment. But now the image is transforming, even on site."
According to veuveclicquotaward.com, the award is named after Nicole Ponsardin who invented the system to clarify champagne. A system which is still in use today. In 1805, at the age of 27, she took over her husband's vineyards, Francois Clicquot, and created an internationally recognised brand.
For the 2011 awards, the judging criteria placed 'an equal balance on financial results and the business practices adopted to deliver these.
Women who deliberately embed socially and environmentally responsible business practices within their businesses will be rewarded, thus recognising the impact of their activities on the environment or society.