Infrastructure and Energy Alternatives Awarded Wind Contract

Infrastructure and Energy Alternatives (NASDAQ:IEA),  a clean energy company announced that it will be constructing a wind project in the Neosho City, Kansas beginning in August. The company was awarded this contract in conjunction with Apex Clean Energy, where the companies will be working towards powering 100,000 homes with wind energy.

As quoted in the press release:

The U.S. wind power industry increased its overall capacity by 8 percent in 2018 to 96,433 megawatts. That more than doubled the capacity level at the start of this decade and is enough to power more than 30 million homes, according to American Wind Energy Association data. New private investment in wind projects installed in 2018 alone exceeded $12 billion.

Additionally, as the cost of developing renewable energy continues to decline, new-build wind capacity is projected to become cost-competitive with existing conventional energy plants in the next decade, according to a 2019 McKinsey & Company analysis. As such, McKinsey forecasts continued growth in renewable energy investments, including wind, for several years. The share of renewables in global power generation could grow from around 25% today to 50% by 2035 and 75% by 2050, according to the McKinsey report.

Click here to read the full press release.