Infrastructure and Energy Alternatives, Inc. Awarded $70 Million Wind Construction Contract in Kansas
March 02 2021 - 9:15AM
Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) (“IEA”
or the “Company”), a leading infrastructure construction company
with specialized energy and heavy civil expertise, today announced
that the Company has been awarded the Jayhawk Wind Farm contract
valued at approximately $70 million. Apex Clean Energy, which
develops, constructs, and operates utility-scale wind and solar
power facilities across North America, awarded this project to IEA
Constructors, a subsidiary of IEA that manages utility-scale
renewable energy and heavy civil infrastructure projects.
The award is for the construction of a
utility-scale wind farm in Bourbon and Crawford counties in
Southeast Kansas with capacity to inject 190 megawatts (MW) of
electricity into the regional grid. Work on the Jayhawk Wind Farm
began in February and is expected to be completed in late 2021.
Apex will manage construction of the project, and IEA will
self-perform all of the engineering, procurement and construction
needs of the project, including the construction of project roads,
the improvement of existing public roads near the construction
site, the installation of collection systems, foundations and
substations and the erection of 70 GE wind turbine generators.
Kansas is an ideal place for wind construction.
According to the American Clean Power Association, the state ranks
fifth in the nation for wind power capacity and second for wind
energy as a share of total electricity generation, with over 6,500
MW of operating capacity today and 43% of electricity from wind
power.
“Wind energy is an essential part of Kansas’
electricity generation, and IEA is excited to partner with Apex
Clean Energy to continue the state’s transition to a carbon-neutral
footprint,” said Chris Hanson, IEA’s Executive Vice President of
Renewable Energy. “The project site for the Jayhawk Wind Farm is
ideal. With high-voltage power lines already in place and
accessible highways that will reduce the project’s need for new
infrastructure, IEA will be able to minimize the construction’s
environmental impact. In addition to contributing to the state’s
goal of carbon neutrality, we are pleased to be able to bring
continued employment to the state of Kansas and support local
merchants, equipment suppliers and more by reducing their need to
import clean electricity from other states.”
“We are thrilled to partner with industry leader
IEA to make Jayhawk Wind — Apex’s second project in Kansas — a
reality,” said Ken Young, Chief Operating Officer of Apex Clean
Energy. “During construction, the Jayhawk Wind project will
generate significant local spending and create hundreds of local
jobs. We look forward to creating, with IEA, an entirely new source
of long-term revenue for the Sunflower State and Bourbon and
Crawford counties for decades to come.”
To date, IEA has constructed more than 20 gigawatts of renewable
energy projects across North America. IEA was ranked #2 for wind
construction amongst Engineering News-Record’s 2020 Top 400
Contractors. For more information on IEA’s ENR rankings please
visit enr.com.
About IEA
Infrastructure and Energy Alternatives, Inc. is
a leading infrastructure construction company with renewable energy
and specialty civil expertise. Headquartered in Indianapolis,
Indiana, with operations throughout the country, IEA’s service
offering spans the entire construction process. The Company offers
a full spectrum of delivery models including full engineering,
procurement, and construction, turnkey, design-build, balance of
plant, and subcontracting services. IEA is one of the larger
providers in the renewable energy industry and has completed more
than 240 utility scale wind and solar projects across North
America. In the heavy-civil space, IEA offers a number of specialty
services including environmental remediation, industrial
maintenance, specialty transportation infrastructure and other site
development for public and private projects. For more information,
please visit IEA’s website at www.iea.net or follow IEA on
Facebook, LinkedIn and Twitter for the latest company news and
events.
About Apex Clean Energy
Apex Clean Energy develops, constructs, and
operates utility-scale wind and solar power facilities across North
America. Our mission-driven team of more than 200 renewable energy
experts uses a data-focused approach and an unrivaled portfolio of
projects to create solutions for the world’s most innovative and
forward-thinking customers. For more information on how Apex is
leading the transition to a clean energy future, visit
apexcleanenergy.com or follow us
on Facebook, Twitter, and LinkedIn.
Forward Looking Statements
This release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. The use of words such as “anticipate,” “expect,” “could,”
“may,” “intend,” “plan” and “believe,” among others, generally
identify forward-looking statements. These forward-looking
statements are based on currently available operating, financial,
economic and other information, and are subject to a number of
risks and uncertainties. Readers are cautioned that these
forward-looking statements are only predictions and may differ
materially from actual future events or results. A variety of
factors, many of which are beyond our control, could cause actual
future results or events to differ materially from those projected
in the forward-looking statements in this release. For a full
description of the risks and uncertainties which could cause actual
results to differ from our forward-looking statements, please refer
to IEA’s periodic filings with the Securities & Exchange
Commission including those described as “Risk Factors” in IEA’s
annual report on Form 10-K filed on March 12, 2020 and in the
quarterly reports on Form 10-Q filed thereafter. IEA does not
undertake any obligation to update forward-looking statements
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
Contact:
Kimberly Esterkin |
ADDO Investor Relations |
iea@addoir.com |
310-829-5400 |
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