Argan Enters into Engineering and Construction Contracts for 195 MW Power Projects

Source: 6/8/2022, Location: Europe

Argan, Inc. announces that its wholly owned subsidiary, Atlantic Projects Company (“APC”), has entered into engineering and construction services contracts with the Electricity Supply Board (“ESB”) to construct three 65 MW aero-derivative gas turbine flexible generation power plants in and around Dublin, Ireland. Two of the power plants, Poolbeg and Ringsend FlexGen Power Plants, will be located on the Poolbeg Peninsula, and the Corduff FlexGen Power Plant is to be built in Goddamendy, Dublin. All three projects cleared the SEM 2024/2025 T-3 Capacity auction earlier this year and are expected to operate intermittently during peak periods of electricity demand and as back-up supply options when renewable electricity generation is limited. A full notice to proceed has been received and project activities are now due to commence.

“These are major investments by ESB and they will play a key role in maintaining the long-term stability of the electricity system in Ireland as well as facilitating increasing levels of intermittent renewables in line with ESB’s Net Zero by 2040 strategy. We are delighted to work with ESB, a long-term customer of ours, to provide engineering and construction services for these strategic projects and we look forward to successful delivery of the three power plants,” said Billy Nolan, Managing Director, Atlantic Projects Company.

Argan will add the value of these contracts to its project backlog immediately.

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