Gemma Renewable Power Proceeds on US $50M Wind Contract

Gemma Power Systems announced that its joint venture entity Gemma Renewable Power LLC, has received an Initial Limited Notice to Proceed on a US $50 million contract to design and build the expansion of a wind farm in LaSalle County, Illinois from Grand Ridge II LLC.

Gemma Renewable Power said that it expects to receive the Final Notice to Proceed in the coming weeks, subject to negotiation of the Balance of Plant contract. The project is expected to be completed in 2009 and will include 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 Power Systems is a wholly owned subsidiary of Argan Inc.

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