Arcosa, Inc. (NYSE: ACA) (“Arcosa” or the “Company”), today announced President Biden toured the new Arcosa Wind Towers manufacturing site in Belen, New Mexico. During his visit President Biden stated:
“Since I signed the [Inflation Reduction Act] into law, Arcosa has received $1.1 billion of orders for new wind towers and today we are here breaking ground on a new plant that is going to create 250 new good paying jobs. And meanwhile we are speeding up permitting for new transmissions lines so that wind energy produced by these towers reaches people’s homes.”
Antonio Carrillo, Arcosa’s President and CEO, commented, “Arcosa is proud to have hosted President Biden at today’s event. This new plant demonstrates the expected long-term positive impact of the Inflation Reduction Act that is driving the transition to clean energy and job creation. When completed the Belen plant will produce wind towers to meet the growing demand for renewable energy.”
Roger Martella, Vice President of GE Vernova Government Affairs and Sustainability, commented, “The IRA and IIJA have been game changers, and the Arcosa facility in Belen is an early proof point of this success. We congratulate our partners at Arcosa, and we value our 18-year partnership building clean energy and jobs together. When America innovates, the world wins, starting here in Belen.”
On March 14th, Arcosa announced a plan to invest between $55 to $60 million to purchase property, modify the existing plant, and procure necessary equipment for the new wind tower manufacturing facility in Belen, New Mexico. This project is supported by attractive incentives from the state of New Mexico and the city of Belen. Production is expected to begin in mid-2024. Since the passage of the Inflation Reduction Act, the Company has received wind tower orders in excess of $1.1 billion, including a significant level of backlog through 2028 for the Belen, New Mexico facility. Additional capacity is available to support further expansion in the Southwest region.
About Arcosa -- Arcosa, Inc., headquartered in Dallas, Texas, is a provider of infrastructure-related products and solutions with leading positions in construction, engineered structures, and transportation markets. Arcosa reports its financial results in three principal business segments: Construction Products, Engineered Structures, and Transportation Products. For more information, visit www.arcosa.com.