Infrastructure and Energy Alternatives, Inc. Awarded $50 Million Wind Construction Contract in Iowa
April 27 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, today
announced that the Company has been awarded the Plymouth Wind
Energy Center contract valued at approximately $50 million.
Invenergy, a leading privately-held global developer, owner, and
operator of sustainable energy solutions, 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 200
megawatt utility-scale wind farm in northwest Iowa. Work on the
Plymouth Wind Energy Center began in April and is expected to be
completed in late 2021. IEA will self-perform all of the
engineering, procurement and construction needs of the project,
including the construction of project roads, installation of
foundations, offloading of equipment and erection of 73 GE wind
turbine generators.
Iowa continues to rank amongst the nation’s
leading states for wind energy generation and investments. The
American Clean Power Association ranks Iowa third in the US for
operating wind, solar and energy storage capacity, with over $19
billion in capital invested in renewable energy projects to date.
Iowa was also the first state in the nation to generate more than
30% of its total electricity from wind power, and, as of this past
year, wind energy officially surpassed coal as Iowa’s largest
single source of electricity.
“As technological advancements continue to drive
down costs, wind energy has proven to be one of the most
affordable, stable, and clean sources of new energy generation in
Iowa,” said JP Roehm, IEA’s President and Chief Executive Officer.
“IEA is very pleased to not only leverage our expertise in wind
construction in our partnership with Invenergy, but also to advance
Iowa’s position as a national leader in renewable energy.”
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 Invenergy
We are innovators building a sustainable world.
Invenergy and its affiliated companies develop, own, and operate
large-scale sustainable energy generation and storage facilities in
the Americas, Europe and Asia. Invenergy's home office is located
in Chicago, and it has regional development offices in the United
States, Canada, Mexico, Colombia, Japan, Poland and Scotland.
Invenergy has successfully developed more than 27,000 megawatts of
projects that are in operation, construction or contracted,
including wind, solar, and natural gas power generation facilities
as well as advanced energy storage projects. For more information,
please visit www.invenergy.com.
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.com |
|
310-829-5400 |
|
Infrastructure and Energ... (NASDAQ:IEA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Infrastructure and Energ... (NASDAQ:IEA)
Historical Stock Chart
From Apr 2023 to Apr 2024