Shannonbridge Power Project : Argan subsidiary secures EPC contract

Argan, Inc. (NYSE: AGX) revealed that Atlantic Projects Company (APC), one of its subsidiaries, has secured a full notice to proceed for the engineering, procurement, and construction (EPC) services contract with GE Vernova. This collaboration focuses on the Shannonbridge Power Project situated in County Offaly, Ireland.

The Shannonbridge Power Project, a combined initiative by EirGrid and the Electricity Supply Board of Ireland (ESB), is set to bolster the region’s power infrastructure. Its objective is clear: guarantee a steadfast electricity supply, especially during crucial scenarios and emergencies. The heart of this power facility will feature eight state-of-the-art GE LM2500XPRESS units, which are constructed using the tried-and-tested LM2500 aeroderivative gas turbine technology.

Atlantic Projects Company, along with its U.S.-based counterpart, Gemma Power Systems, has been given the responsibility to oversee the Shannonbridge Power Project’s entire span—from design and procurement to construction and final commissioning. Collaborating with GE Vernova, the combined prowess of APC and Gemma ensures that the Shannonbridge Power Project will meet its expected completion by early 2024. In fact, the project kickstarted earlier this year under limited notices.

Billy Nolan, the Managing Director of Atlantic Projects Company, expressed, “For five decades, we’ve been at the forefront of offering power generation solutions worldwide. Recognizing Ireland’s need for a sturdy and dependable power supply, especially during peak times, we’re committed to seeing the Shannonbridge Power Project through with utmost professionalism, maintaining safety and quality. This project is envisioned to be pivotal in safeguarding Ireland’s electricity supply during crucial times.”

Echoing the sentiment, Charles Collins, Gemma’s Chief Executive Officer, shared, “Joining hands with APC and GE Vernova for the Shannonbridge Power Project aligns seamlessly with our mission. We’re focused on crafting solutions that address global power challenges. Our dedication lies in creating a resilient and sustainable power structure that not only benefits the local populace but also resonates with Ireland’s energy ambitions.”

Engagement with regional stakeholders is paramount. Both Atlantic Projects Company and Gemma Power Systems emphasize working closely with local bodies, including government sectors, regulatory boards, and the community at large. Through such engagements and collaborations with local suppliers and contractors, the Shannonbridge Power Project aims to amplify regional job prospects and bolster the local economy.

In conclusion, Argan and its associated subsidiaries are not only contributing to Ireland’s sustainable energy blueprint but are also eagerly anticipating a fruitful collaboration with all involved stakeholders in the Shannonbridge Power Project.