Argan, Inc.’s Wholly Owned Subsidiary Gemma Power Systems Enters into an EPC Contract and Receives a Limited Notice to Proceed for a 1.8 Gigawatt Power Project

By February 5, 2019October 28th, 2020No Comments

ROCKVILLE, Md. –(BUSINESS WIRE)– Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) announced today that on January 31, 2019, its wholly owned subsidiary, Gemma Power Systems (“Gemma”), entered into an engineering, procurement and construction services contract with Guernsey Power Station, LLC to construct a 1,875 MW natural gas-fired power plant in Guernsey County, Ohio. Construction for the facility is scheduled to begin in the spring with completion scheduled in 2022. The power trains for the facility are provided by General Electric Company and utilize single shaft 7HA.02 gas turbines. A limited notice to proceed has been issued to Gemma to begin preliminary design and site preparation activities. Guernsey Power Station is being jointly developed by Caithness Energy, L.L.C. and Apex Power Group, LLC.