Infrastructure and Energy Alternatives, Inc. Wins Colorado Wind Construction Contract
INDIANAPOLIS, July 21, 2021 (GLOBE NEWSWIRE) – Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) (“AIE” or the “Company”), a leading infrastructure construction company with expertise in renewable energy and in civil engineering, today announced that the Company has been awarded the contract for the Panorama wind farm. Leeward Renewable Energy, a leading renewable energy company and OMERS Infrastructure holding company, awarded this project to IEA Constructors, a subsidiary of IEA that manages large-scale renewable energy projects and heavy civilian infrastructure.
The award is for the construction of the 145-megawatt large-scale wind farm in Weld County, Colorado. Construction of the Panorama wind farm will begin in July and is expected to be completed in December 2021. The IEA will itself provide all engineering, procurement and construction needs for the project, including the construction of 23 miles of roads. access roads, the improvement of existing public and private access roads, the installation of foundations, the unloading of equipment and the erection of 66 Vestas wind turbines.
The state of Colorado is actively committed to reducing greenhouse gas emissions and currently ranks eighth in the country for harnessing wind, solar and energy storage capacity. According to the most recent report released by the American Clean Power Association, about 26% of all electricity produced in Colorado comes from renewable sources – enough energy to power 2.1 million homes.
“Wind is fast becoming a power source of choice in Colorado, and the IEA is delighted to partner with Leeward Renewable Energy to help expand the state’s renewable power generation,” said Chris Hanson, IEA Executive Vice President for Renewable Energy. “The Panorama wind farm will not only serve as a major source of job creation for Colorado, but will also bring the state closer to its goal of producing 100% clean energy by 2040.”
“Leeward Renewable Energy is pleased to partner with the IEA on the Panorama Wind Farm to build a sustainable wind power plant in County Weld,” said Andrew Flanagan, Development Director of Leeward Renewable Energy. “We are proud to be working alongside the IEA team to deliver a clean energy solution to the State of Colorado as it pursues its emissions targets.”
To date, the IEA has built over 20 gigawatts of renewable energy projects across North America. The IEA has been ranked No. 2 for wind turbine construction among the Engineering News-Record’s 2020 Top 400 entrepreneurs. For more information on the IEA ENR rankings, please visit enr.com.
About the IEA
Infrastructure and Energy Alternatives, Inc. is a leading infrastructure construction company with expertise in renewable energy and civil engineering. Based in Indianapolis, Indiana, with operations nationwide, the IEA’s service offering covers the entire construction process. The Company offers a full range of delivery models, including full engineering, procurement and construction, turnkey, design-build, plant balance and subcontracting services. The IEA is one of the largest suppliers to the renewable energy industry and has completed more than 240 utility-scale wind and solar projects in North America. In heavy civilian space, the IEA offers a number of specialized services, including environmental remediation, industrial maintenance, specialized transport infrastructure and other site developments for public and private projects. For more information, please visit the IEA website at www.iea.net or follow IEA on Facebook, LinkedIn and Twitter for the latest company news and events.
About Leeward Renewable Energy, LLC
Leeward Renewable Energy is a leading renewable energy company that owns and operates a portfolio of 22 renewable energy facilities in nine states totaling approximately 2,000 megawatts of generating capacity. Leeward is actively developing new wind, solar and energy storage projects in the US energy markets, with 17 gigawatts under development covering more than 100 projects. Leeward is a holding company of OMERS Infrastructure, an investment arm of OMERS, one of the largest defined benefit pension plans in Canada with net assets of C $ 105 billion (as of December 31, 2020) . For more information visit www.leewardenergy.com.
This press 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”, “could”, “intend” ”,“ Plan ”and“ believe ”, among others, generally identify forward-looking statements. These forward-looking statements are based on currently available operational, 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 results or future events to differ materially from those projected in the forward-looking statements in this press release. For a full description of the risks and uncertainties that could cause actual results to differ from our forward-looking statements, please refer to the IEA’s periodic filings with the Securities & Exchange Commission, including those described as ” risk ”in the IEA Annual Report on Form 10 -K filed on March 8, 2021 and in any Quarterly Report on Form 10-Q filed thereafter. The IEA assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
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