Argan, Inc.’s Wholly Owned Subsidiary Gemma Power Systems Enters into an EPC Contract for a 920 MW Power Project in West Virginia
Argan, Inc. (AGX)
NASDAQ:AMEX Investor Relations:
arganinc.com/investor-center
Company Research
Source: Business Wire
ROCKVILLE, Md.--(BUSINESS WIRE)--Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) announced today that in late February 2020 its wholly owned subsidiary, Gemma Power Systems (”Gemma”), entered into an engineering, procurement and construction (“EPC”) services contract with ESC Brooke County Power I, LLC to construct Brooke County Power, a 920 MW natural gas-fired power plant, in Brooke County, West Virginia. The facility is being developed by Energy Solutions Consortium, LLC (“ESC”) and construction activities are scheduled to start in 2020 once financial close is achieved.“ESC Brooke County Power I, LLC will create jobs, source fuel regionally, and use state-of-the-art generation technology for maximum efficiency and minimum emissions. We look forward to working alongside Gemma and General Electric to bring this significant plant capable of powering the equivalent of 700,000 homes to completion,” said Drew Dorn, President of ESC.“Gemma has been providing EPC solutions to client
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