Benzinga | Jan 25, 2022 09:16AM EST

Infrastructure & Energy Alternatives And LOGISTEC USA Announce Strategic Alliance To Provide Turnkey Solutions For U.S. Offshore Wind Industry

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 a new strategic alliance with LOGISTEC USA Inc., a subsidiary of LOGISTEC Corporation (TSX:LGT, LGT.B))) ("LOGISTEC"), a cargo handling and marine services provider with 25 port locations within the United States.

IEA intends to leverage its proven engineering, procurement, and construction ("EPC") solutions with LOGISTEC's cargo handling capabilities in support of new utility-scale offshore wind developments along the U.S. east coast. Both companies believe this non-exclusive business alliance will result in improved economies of scale and supply chain efficiencies over the long-term.

In 2021, the United States Departments of Interior (DOI), Energy (DOE), and Commerce (DOC) announced a shared goal to deploy 30 gigawatts (GW) of offshore wind power in the United States by 2030. These capacity additions are expected to generate sufficient power to support more than 10 million American homes annually, while eliminating approximately 78 million metric tons of CO2 emissions.

As one of the largest utility scale wind engineering and construction firms in the U.S., IEA will utilize its logistics expertise to capitalize on the planned, multi-year investment in offshore capacity additions, leveraging LOGISTEC's experience as a leader in the handling of specialized wind components.

"As a leading EPC company serving the domestic onshore wind industry, IEA is uniquely positioned to capitalize on a long-term trend toward increased investment in offshore wind development," stated JP Roehm, CEO of IEA. "We believe this alliance will allow for improved logistics, supply chain, and material handling capability along the East Coast corridor where LOGISTEC has a significant geographic presence, one well-suited to service planned offshore wind developments in the region."

"This unique partnership between IEA and LOGISTEC will provide customers with a truly integrated service for the burgeoning offshore wind market," explained Rodney Corrigan, President of LOGISTEC USA Inc. "IEA's renowned suite of specialized services in the renewable energy sector paired with our field proven wind handling expertise will bring clean energy to communities in support of a sustainable future for generations to come."