Gemma Power Systems to Commence Construction on 475 MW Power Project in North Carolina

By March 14, 2016Company News, News Releases

Second Project for NTE Energy achieves Financial Closing

GLASTONBURY, CT, March 14, 2016 – Gemma Power Systems, LLC (GPS) has received full Notice to Proceed (NTP) to begin activities under an Engineering, Procurement and Construction (EPC) services contract with NTE Carolinas LLC, an affiliate of NTE Energy, to construct a 475 MW state-of-the-art natural gas-fired power plant in Kings Mountain, North Carolina.

The Kings Mountain Energy Center is one of two similar power projects awarded to GPS by NTE; the second project, also a 475 MW facility, is located in Middletown, Ohio and received NTP in October 2015.

The Kings Mountain Energy Center project is scheduled to be completed in the second half of 2018, while Middletown, Ohio is scheduled to complete early second quarter of 2018.

“We congratulate NTE Carolinas and the future utility customers of KMEC for achieving Financial Closing. We’re pleased to be working with NTE on their first two facilities and look forward to a long and successful relationship with them,” said William F. Griffin Jr., Chief Executive Officer of Gemma Power Systems.

The Kings Mountain project will employ approximately 300 craft workers at the peak of construction and provide approximately 25 to 30 permanent jobs for the area.

Both NTE projects feature an advanced Mitsubishi Hitachi Power Systems Americas M501GAC combustion turbine generator, a Vogt Power International supplementary-fired heat recovery steam generator and a Toshiba America Energy Systems steam turbine generator.

About Gemma Power Systems
Gemma Power Systems, a wholly owned subsidiary of Argan Inc. (NYSE: AGX), is a leading Engineering, Procurement and Construction (EPC) company providing innovative solutions for the power and renewable energy industry. Our wide-ranging and comprehensive experience comprises 14,000 MW under contract and installed capacity including combined cycle and simple cycle gas turbine generating plants, biomass, solar facilities, wind farms, biofuel plants and environmental facilities. Additional information about Gemma Power Systems can be found at www.gemmapower.com. Follow Gemma on Twitter @gemmapwr.

Media contact:
Sandra Ahearn
860.659.0509 (o)
860.729.7337 (m)
sandraahearn@gemmapower.com