Infrastructure and Energy Alternatives, Inc. Awarded $300 Million in Wind and Solar Projects Across Texas and Illinois
April 20 2021 - 9:00AM
Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) (“IEA”
or the “Company”), a leading infrastructure construction company
with renewable energy and specialty civil expertise, announced
today that the Company has been awarded three renewable energy
construction projects for a combined total of approximately $300
million.
Two of the engineering, procurement and
construction (EPC) projects, including a wind farm and a solar
farm, are located in Texas. Work on the solar farm began in the
first quarter of 2021 and is expected to be completed by December
2021. IEA is self-performing all the engineering, civil,
foundations, trackers, collection, inverter installations, module
installations and commissioning at the solar project site. Work on
the wind farm began in the first quarter of 2021 and is anticipated
to be completed in the first half of 2022. IEA is also
self-performing all the project work, including the construction of
project roads, the erection of wind turbine generators and the
installation of the medium voltage collection systems.
The third project is a wind farm located in
Illinois with completion expected in 2022. IEA is building all the
public and private access roads for the project site, erecting the
wind turbine generators and installing the collection systems.
“IEA is pleased to provide the necessary support
to expand our nation’s renewable energy resources,” said JP Roehm,
IEA’s President and Chief Executive Officer. “Texas and Illinois
rank first and sixth in the U.S., respectively, for total operating
wind, solar and energy storage capacity. Both states are leading
the way in reducing our country’s carbon footprint, and we look
forward to being able to continue to build on this momentum through
these most recent wind and solar awards.”
To date, IEA has constructed more than 20
gigawatts of renewable energy projects across North America. IEA
was ranked #2 for combined wind and solar revenues 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.
(IEA) 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 three
Tier 1 wind energy contractors in the United States and has
completed more than 200 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.
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 8, 2021 and any 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.com310-829-5400
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