Infrastructure and Energy Alternatives, Inc.
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- Infrastructure and Energy Alternatives, Inc. (IEA) operates as a leading infrastructure construction company specializing in renewable energy, power delivery, heavy civil, industrial/power, rail, environmental remediation, and infrastructure services. The company provides full engineering, procurement, and construction (EPC) services; turnkey and design-build solutions; balance of plant offerings; and subcontracting for utility-scale wind and solar projects, including foundation installation, racking/tracking systems, module installation, high-voltage transmission lines, substations, underground systems, site development, and commissioning; heavy civil works such as road and bridge construction, rail infrastructure planning and maintenance for class I and regional railways, environmental site closure, coal ash management, and stormwater solutions; industrial services encompassing plant, refinery, and manufacturing facility construction; and power delivery systems with security integration. Founded in 1947 and headquartered in Indianapolis, Indiana, IEA conducts operations throughout the United States, serving utilities, developers, and government entities with over 125 years of combined experience in heavy civil construction and more than 260 completed utility-scale renewable projects. In 2022, MasTec, Inc. acquired IEA for approximately $1.1 billion in a cash-and-stock transaction valued at $14.00 per share, integrating it as a subsidiary to expand clean energy generation, transmission, maintenance, heavy civil, rail, and remediation capabilities while achieving $10 million in annual cost synergies. The acquisition enhances IEA's scale within MasTec's Clean Energy and Infrastructure segment, contributing significant revenue—such as $2.6 billion to $2.7 billion in 2023—and supporting a $16.5 billion backlog as of 2025 amid U.S. infrastructure and decarbonization demand.
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