INDIANAPOLIS, Dec. 13, 2018 (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, announced today that its subsidiaries, White Construction, Inc. and IEA Constructors, Inc. have each signed an agreement with EDF Renewables North America, one of the largest renewable energy developers in the United States and Canada, for the expected construction of wind energy facilities throughout the central corridor of the United States.
Under the multi-year framework agreement, IEA and EDF Renewables will enter into exclusive negotiations for the construction of a significant portion of EDF Renewable’s North American wind portfolio through 2021. The scope of work includes, but is not limited to, the construction of wind energy facilities, the construction of turbine access roads, public road maintenance/repairs and wind turbine and medium-voltage collection system installations. The combined capacity of the projects is expected to exceed 1,350 megawatts.
“We are very excited IEA has been chosen to partner with EDF Renewables on their 2019, 2020 and 2021 wind construction portfolios,” said JP Roehm, Chief Executive Officer of IEA. “This award contributes significantly to the core growth of our renewable energy business and provides IEA with stronger visibility going forward. EDF Renewables’ selection of IEA is a testament to the overall strength of our national EPC platform. We have an excellent team of highly-skilled, safety-driven professionals in place to successfully fulfill these contracts. We look forward to partnering with EDF Renewables on the continuation of renewable energy development and construction throughout the United States well into the future.”
Infrastructure and Energy Alternatives, Inc. (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 (EPC), turnkey, design-build, balance of plant (BOP), 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. These factors include our ability to grow and manage growth profitably; the possibility that we may be adversely affected by economic, business, and/or competitive factors; market conditions, technological developments, regulatory changes or other governmental policy uncertainty that affects us or our customers; our ability to manage projects effectively and in accordance with management estimates, as well as the ability to accurately estimate the costs associated with ours fixed price and other contracts, including any material changes in estimates for completion of projects; the effect on demand for our services and changes in the amount of capital expenditures by customers due to, among other things, economic conditions, commodity price fluctuations, the availability and cost of financing, and customer consolidation; the timing and extent of fluctuations in geographic, weather and operational factors affecting our customers, projects and the industries in which we operate; the ability of customers to terminate or reduce the amount of work, or in some cases, the prices paid for services, on short or no notice; customer disputes related to the performance of services; disputes with, or failures of, subcontractors to deliver agreed-upon supplies or services in a timely fashion; our ability to replace non-recurring projects with new projects; the impact of U.S. federal, local, state, foreign or tax legislation and other regulations affecting the renewable energy industry and related projects and expenditures; the effect of state and federal regulatory initiatives, including costs of compliance with existing and future safety and environmental requirements; fluctuations in maintenance, materials, labor and other costs; and our beliefs regarding the state of the renewable wind energy market generally. 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 Proxy Statement on Schedule 14A filed on February 9, 2018. 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.
See report here.