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IEA - Infrastructure and Energy Alternatives Inc.

12/03/2019 | Press release | Distributed by Public on 12/03/2019 07:29

December 3, 2019 Infrastructure and Energy Alternatives, Inc. Announces Wind Construction Project Award in Nebraska

INDIANAPOLIS, Dec. 03, 2019 (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 Nebraska.

The award is for construction of the Thunderhead Wind Project in Antelope and Wheeler counties in Nebraska. The project will consist of 108 GE turbines with 300 megawatts of capacity. The power will be delivered into the Nebraska electrical grid.

Work on the project began in November with completion scheduled for September 2020. The scope of IEA's work includes construction of project access roads and turbine foundations, as well as erection of the turbines.

The contract was secured by IEA Constructors, a subsidiary of IEA that manages utility-scale energy and heavy civil infrastructure projects.

'The Thunderhead wind farm is an important example of the wind projects that continue to fill our pipeline,' said JP Roehm, IEA's Chief Executive Officer. 'IEA has developed a strong reputation for delivering efficiently and safely on wind projects throughout North America, and new business momentum is solid as a result.'

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

Chicago-based Invenergy developed the 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.

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]
310-622-8223

Source: Infrastructure and Energy Alternatives, Inc.