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Infrastructure and Energy Alternatives, Inc. Announces Award for Wind Construction Project With 94 Turbines in Illinois


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Source: Infrastructure and Energy Alternatives, Inc.

INDIANAPOLIS, Jan. 08, 2020 (GLOBE NEWSWIRE) — 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 a wind energy project award in Illinois.

The award is for construction of the Blooming Grove Wind Energy Center in McLean County. The project’s planned 94 turbines will generate an estimated 250 megawatts of power that will be delivered into the Illinois electrical grid. It is estimated that the project will generate enough energy to power 69,000 homes annually.

Work began in September 2019 and the project is expected to be fully operational in late 2020. The scope of IEA’s work includes construction of project roads, turbine foundations, and erection of turbines.

White Construction, a division of IEA that performs the construction of heavy civil infrastructure projects, secured the contract.

Chicago-based Invenergy developed the Blooming Grove project. The company owns and operates large-scale renewable and other clean energy generation and storage facilities across North America, Latin America, Asia and Europe. It has developed 150 projects with more than 24,000 megawatts of power capacity.

JP Roehm, IEA’s Chief Executive Officer, said the Illinois project is an excellent example of the size and scope of wind farm developments completed, underway or planned across much of the United States.

According to the American Wind Energy Association, there are now more than 100,000 megawatts of wind energy operating in the country, with more than 57,000 wind turbines spinning across 41 states and two U.S. territories.

“Momentum in wind energy is substantial across more than a dozen states and in several regions of the country, providing IEA both strong demand and geographic diversity,” Roehm said. “We expect activity to remain robust in 2020 and beyond.”

IEA has assembled more than 7,200 wind turbines across North America.

About IEA

IEA is a leading infrastructure construction company with specialized energy and heavy 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 14, 2019, and quarterly reports on Form 10-Q filed during 2019. 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

Andrew Layman
Chief Financial Officer
[email protected]
765-828-2580

Financial Profiles, Inc.
Larry Clark, Senior Vice President
[email protected]om
310-622-8223



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