Gemma Renewable Power LLC Signs an EPC Contract for $51 million Wind Farm Project

Argan, Inc. (NYSE AMEX: AGX) announced that its wholly owned subsidiary Gemma Power Systems, through its wholly-owned subsidiary Gemma Renewable Power LLC, has a signed an approximately $51 million EPC contract with Bishop Hill Energy LLC, a wholly-owned subsidiary of Invenergy Wind North America LLC to design and build a 200 MW wind farm in Henry County, Illinois.

The Bishop Hill wind farm is expected to consist of up to 134 General Electric wind turbines. Gemma Renewable Power will provide design and construction of roads, foundations, and electrical collection systems in addition to erecting towers, wind turbines, and blades. The project is anticipated to be completed in late 2011.

Rainer Bosselmann, Chairman and Chief Executive Officer of Argan, stated, “We are very pleased to sign the EPC contract for this important alternative energy project. Gemma’s project management and construction capabilities will contribute to the success of this project. We again welcome the opportunity to work with the Invenergy team on another wind farm project.”

Argan’s primary business is designing and building energy plants through its Gemma Power Systems subsidiary. These energy plants include traditional gas as well as alternative energy including biodiesel, ethanol, and renewable energy sources such as wind power and solar. Argan also owns Southern Maryland Cable, Inc. and Vitarich Laboratories, Inc.