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Infrastructure and Energy Alternatives, Inc. Awarded Wind Construction Contract in Colorado

·4 min read

INDIANAPOLIS, July 21, 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, today announced that the Company has been awarded the Panorama Wind Farm contract. Leeward Renewable Energy, a leading renewable energy company and portfolio company of OMERS Infrastructure, 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 the 145 megawatt utility-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. IEA will self-perform all of the engineering, procurement and construction needs of the project, including the construction of 23 miles of private access roads, the improvement of existing public and private access roads, the installation of foundations, the offloading of equipment and the erection of 66 Vestas wind turbine generators.

The state of Colorado is actively committed to reducing greenhouse gas emissions and currently ranks eighth in the nation for operating wind, solar and energy storage capacity. Approximately 26% of all of the electricity produced in Colorado comes from renewable sources, or enough energy to power 2.1 million homes, according to the most recent report issued by the American Clean Power Association.

“Wind is quickly becoming an energy source of choice in Colorado, and IEA is pleased to partner with Leeward Renewable Energy to help further the state’s renewable energy generation,” said Chris Hanson, IEA’s Executive Vice President of Renewable Energy. “The Panorama Wind Farm will not only serve as an important source of job creation for Colorado, but also bring the state one step closer to achieving its goal of 100% clean energy generation by 2040.”

“Leeward Renewable Energy is pleased to partner with IEA on the Panorama Wind Farm to build a sustainable, wind power facility in Weld County,” said Andrew Flanagan, Leeward Renewable Energy’s Chief Development Officer. “We are proud to work alongside the IEA team to provide a clean energy solution to the state of Colorado as they pursue their emissions goals.”

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 Leeward Renewable Energy, LLC

Leeward Renewable Energy is a leading renewable energy company that owns and operates a portfolio of 22 renewable energy facilities across nine states totaling approximately 2,000 megawatts of generating capacity. Leeward is actively developing new wind, solar, and energy storage projects in energy markets across the U.S., with 17 gigawatts under development spanning over 100 projects. Leeward is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with C$105 billion in net assets (as at December 31, 2020). For more information, visit www.leewardenergy.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 in 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@addo.com
310-829-5400