Benzinga | Dec 16, 2021 09:13AM EST

Infrastructure, Energy Alternatives Wins $44M Contract To Support California-Based Wind Development

Infrastructure and Energy Alternatives, Inc. (NASDAQ:IEA, &ldquo, IEA&rdquo, or the &ldquo, Company&rdquo, ))) a leading infrastructure company with renewable energy and specialty civil expertise, today announced that White Construction, a wholly-owned subsidiary of IEA, has secured a $44 million award to lead the construction of a 60 MW utility-scale wind farm in Riverside County, California. The project is expected to commence in the first quarter 2022, with targeted completion by the first quarter 2023.

Under the terms of the contract award, IEA will self-perform all engineering and construction of fifteen wind turbines, two substation and meteorological evaluation towers (METs) and an underground electrical collector system. As outlined within the scope of work, IEA will also be tasked with construction of new private-land access roads, together with improvements to existing public roads surrounding the property.

With more than 6,000 MW of installed capacity across more than 120 projects throughout the state, California is the second-largest producer of wind energy in the nation. Wind energy, an integral part of California's electricity portfolio, will play a critical role in helping the state meet its Renewables Portfolio Standard, one that will require utilities to procure 60 percent of retail sales from renewable sources by 2030. To-date, nearly $12 billion has been invested in California wind farms.

"California remains at the vanguard of the clean energy transition, a state committed to investing in cost-competitive renewable energy sources," stated JP Roehm, CEO of IEA. "IEA is proud to partner with California in its mission to develop a world-class network of sustainable, reliable energy systems that both reduce carbon emissions and foster economic development."

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 2021 Top 400 Contractors. For more information on IEA's ENR rankings please visit enr.com.