Benzinga | Jan 11, 2022 12:54PM EST

IEA Bags $75M Contract To Support Illinois Wind Project

* Infrastructure & Energy Alternatives Inc (NASDAQ:IEA) subsidiary White Construction has secured a $75 million award with Invenergy, a privately-held developer, owner, and operator of sustainable energy solutions.

* IEA will provide construction services for the Sapphire Sky Wind Project, a planned 250-megawatt (MW) utility-scale wind farm in McLean County, Illinois.

* Under the scope of work, IEA will self-perform the engineering and construction of 64 wind turbines and nearly 20 miles of private-land access roads.

* The project commenced during 4Q21, with targeted completion by 4Q22. The development is anticipated to create nearly 300 new jobs for the state of Illinois during construction.

* Price Action: IEA shares are trading higher by 0.83% at $9.76 on the last check Tuesday.