Gemma Renewable Power LLC Signs EPC Contract to Proceed for $18 Million Wind Farm Project

Argan, Inc. (NYSE AMEX: AGX) announced that its wholly-owned affiliate Gemma Renewable Power LLC has signed an approximately $18 million EPC contract with Patton Wind Farm LLC, a wholly-owned subsidiary of EverPower Wind Holdings, Inc., to design and build a 30 MW wind farm.

The Patton Wind Farm located near Ebensburg, Pennsylvania will consist of 15 Gamesa wind turbines. In addition to erecting towers and wind turbines, Gemma Renewable Power will provide design and construction of access roads, foundations, electrical collection systems and an interconnecting substation. Gemma Renewable Power has received a Notice to Proceed on this contract with an anticipated completion in December 2012.

Rainer Bosselmann, Chairman and Chief Executive Officer of Argan, stated, “We are very pleased to sign the EPC contract with Patton Wind and welcome the opportunity to work with the EverPower team on this 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 energy. Argan also owns Southern Maryland Cable, Inc.