INDIANAPOLIS, April 20, 2021 (GLOBE NEWSWIRE) — 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.
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.
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