Infrastructure and Energy Alternatives, Inc. Awarded $50 Million Wind Construction Contract in Iowa

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Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) (“IEA” or the “Company”), a leading infrastructure construction company with renewable energy and specialty civil expertise, today announced that the Company has been awarded the Plymouth Wind Energy Center contract valued at approximately $50 million. Invenergy, a leading privately-held global developer, owner, and operator of sustainable energy solutions, awarded this project to IEA Constructors, a subsidiary of IEA that manages utility-scale renewable energy and heavy civil infrastructure projects.

The award is for the construction of a 200 megawatt utility-scale wind farm in northwest Iowa. Work on the Plymouth Wind Energy Center began in April and is expected to be completed in late 2021. IEA will self-perform all of the engineering, procurement and construction needs of the project, including the construction of project roads, installation of foundations, offloading of equipment and erection of 73 GE wind turbine generators.

Iowa continues to rank amongst the nation’s leading states for wind energy generation and investments. The American Clean Power Association ranks Iowa third in the US for operating wind, solar and energy storage capacity, with over $19 billion in capital invested in renewable energy projects to date. Iowa was also the first state in the nation to generate more than 30% of its total electricity from wind power, and, as of this past year, wind energy officially surpassed coal as Iowa’s largest single source of electricity.

“As technological advancements continue to drive down costs, wind energy has proven to be one of the most affordable, stable, and clean sources of new energy generation in Iowa,” said JP Roehm, IEA’s President and Chief Executive Officer. “IEA is very pleased to not only leverage our expertise in wind construction in our partnership with Invenergy, but also to advance Iowa’s position as a national leader in renewable energy.”

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 2020 Top 400 Contractors.