Benzinga | Dec 16, 2021 02:54PM EST

IEA Pockets $44M Contract To Lead Construction Of Wind Farm In California

* Infrastructure & Energy Alternatives Inc (NASDAQ:IEA) subsidiary White Construction has secured a $44 million award to construct a 60 MW utility-scale wind farm in Riverside County, California.

* IEA will self-perform all engineering and construction of fifteen wind turbines, two substations and meteorological evaluation towers (METs), and an underground electrical collector system.

* IEA will also be tasked with constructing new private-land access roads and improvements to existing public roads surrounding the property.

* The project will commence in 1Q'22, with targeted completion by 1Q'23.

* Price Action: IEA shares are trading lower by 3.68% at $8.91 on the last check Thursday.