IEA - IEA STOCK NEWS

Infrastructure and Energy Alternatives (IEA) has secured a $50 million contract for the Plymouth Wind Energy Center in Iowa, a 200 megawatt project. The work, awarded by Invenergy, includes self-performing engineering, procurement, and construction operations. The project aims to enhance Iowa's position in renewable energy, where it ranks third in wind, solar, and energy storage capacity in the US. IEA has successfully constructed over 20 gigawatts of renewable projects across North America, showcasing its expertise in the renewable energy sector.

Infrastructure and Energy Alternatives (NASDAQ: IEA) has secured three renewable energy construction projects totaling approximately $300 million. These projects include a wind farm and solar farm in Texas, with work on the solar farm starting in Q1 2021 and slated for completion by December 2021, and the wind farm expected to finish in H1 2022. Additionally, a wind farm project in Illinois is anticipated to complete in 2022. IEA has constructed over 20 gigawatts of renewable projects in North America, ranking #2 for combined wind and solar revenues among contractors.

On March 10, 2021, Infrastructure and Energy Alternatives (NASDAQ: IEA) announced one-on-one investor meetings at two upcoming conferences. The first is the 33rd Annual ROTH Conference on March 16, featuring President and CEO JP Roehm and CFO Peter Moerbeek. The second is the Berenberg Energy Transition Conference on March 22, where CFO Moerbeek will also participate. IEA specializes in infrastructure construction with a focus on renewable energy, having completed over 240 utility-scale wind and solar projects across North America.

Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) reported its financial results for Q4 and full year 2020. Q4 revenue fell to $391.9 million from $520.0 million in 2019, with a net loss of $1.4 million, translating to a loss of $0.10 per diluted share. Full year revenue reached a record $1.8 billion, a 20.1% increase, yet net income decreased 88.3% to $0.7 million. Management expects 2021 revenue between $1.75 billion and $1.95 billion, bolstered by a strong backlog of $2.07 billion. Achievements include cost reductions and a commitment to ESG improvements.

Infrastructure and Energy Alternatives (NASDAQ: IEA) announced the integration of Merit SI’s solar project development team, enhancing its renewable energy capabilities. Ten Merit SI employees will bolster IEA’s offerings for commercial and utility-scale clients, particularly in solar and battery storage. This move follows a two-year extension of investment tax credits, positioning IEA for growth in its solar platform and potential collaborations with Merit Controls. The partnership aims to deliver comprehensive solar solutions, leveraging Merit SI's extensive project experience.

Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) has secured a $70 million contract for the Jayhawk Wind Farm in Southeast Kansas, awarded by Apex Clean Energy. This project will add 190 MW of electricity to the regional grid and is set to be completed by late 2021. IEA Constructors will manage all engineering, procurement, and construction tasks, including the installation of 70 wind turbines. Kansas ranks high in wind power capacity, aligning with IEA's goal of promoting carbon neutrality and supporting local economies.

Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) plans to release its financial results for Q4 and the full year ending December 31, 2020, after market close on March 8, 2021. A conference call will follow on March 9, 2021, at 11:00 AM ET, to discuss the results. The company specializes in infrastructure construction, particularly in renewable energy, with over 200 completed projects across North America. Investors can participate in the call via phone or listen online through IEA’s investor website.

Infrastructure and Energy Alternatives (NASDAQ: IEA) announced the closure of its underwritten offering of 8,853,283 shares of common stock at a price of $16.75 per share, resulting in gross proceeds of approximately $148.3 million for the Selling Stockholder, Oaktree Capital. IEA did not participate in the sale and will not receive any proceeds. Additionally, Peter Jonna's resignation from the board became effective with the offering's closing. Guggenheim Securities served as the sole book-running manager for the offering.

Infrastructure and Energy Alternatives, Inc. (IEA) has announced the pricing of an underwritten offering of 8,000,000 shares of common stock by Infrastructure and Energy Alternatives, LLC at $16.75 per share, raising approximately $134.0 million. IEA will not sell any shares nor receive proceeds from this offering. A 30-day option for underwriters to purchase an additional 853,283 shares is also available. Guggenheim Securities is the sole book-running manager for this offering. No shares will be sold in unlawful jurisdictions.