Gemma Renewable Power Can Proceed With Wind Farm Contract

NAW staff, Monday 27 October 2008 - 10:09:36

Rockville, Md.-based Argan Inc. has announced that its wholly owned subsidiary Gemma Power Systems - through its joint venture entity Gemma Renewable Power LLC - has received an initial limited notice to proceed from Grand Ridge II LLC for an approximately $50 million contract to design and build the expansion of a wind farm in LaSalle County, Ill. The Grand Ridge wind farm is expected to consist of up to 166 wind turbines. Gemma Renewable Power will provide design and construction of roads, foundations and electrical collection systems in addition to erecting towers, turbines and blades.

Gemma Renewable Power was formed in June as a joint venture between Gemma Power Systems and Invenergy Wind Management LLC, with the partners each owning 50% of the new company.

Gemma Renewable Power expects to receive the final notice to proceed shortly, subject to negotiation of the balance of plant contract. The project is expected to be completed in 2009.

SOURCE: Argan Inc.




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