Argan's Atlantic Projects Executes Platin Power Station Contract with SSE Thermal.

Argan Inc.'s subsidiary, Atlantic Projects Company, has signed a contract with SSE Thermal to build the Platin Power Station in County Meath, Ireland. The project will consist of three Siemens Energy turbines and is expected to provide approximately 170 MW of generation capacity. Planned completion is in 2028.

Title: Argan Inc. and Atlantic Projects Company Secure Major Power Station Contract

Arlington, Va., July 2, 2025 — Argan, Inc. (NYSE: AGX) has announced that its wholly owned subsidiary, Atlantic Projects Company (APC), has entered into an engineering, procurement, and construction services contract for the Platin Power Station with SSE Thermal, part of the integrated energy group SSE plc. The project, located in County Meath, Ireland, will consist of three Siemens Energy SGT-800 turbines operating in open cycle mode with supporting balance of plant equipment. The project is expected to provide approximately 170 MW of generation capacity to the grid during periods of high demand and supply shortfalls from renewable sources. Planned completion is expected in 2028.

This contract marks a significant milestone for APC and strengthens its ongoing relationship with one of the UK and Ireland’s leading energy companies. Charles E. Collins, IV, Executive Managing Director of APC, commented, "We are honored to have been selected once again by SSE and thank them for their continued trust in the Atlantic Projects Company. The Platin Power Station contract represents our second project with SSE this year, and we look forward to building on this strong partnership as we work together to deliver a successful project that supports the transition to cleaner, more efficient, and sustainable energy solutions." Finlay McCutcheon, Managing Director of SSE Thermal, said, "We’re proud to once again partner with Atlantic Projects Company, and Siemens Energy, to deliver Platin Power Station. Our focus is now on working together to complete the project safely and efficiently. By providing flexible power generation, Platin will help strengthen Ireland's security of supply while supporting the country’s net zero ambitions."

Atlantic Projects Company is a leading provider of engineering, construction, and other technical services primarily for power generation clients. APC performs turbine, boiler, and large rotating equipment installation, commissioning, and outage services for original equipment manufacturers, EPC contractors, and plant owners located primarily in the Republic of Ireland and the United Kingdom. For 50 years, APC has successfully completed over 8,000 projects on four continents.

Argan’s primary business is providing a full range of construction and related services to the power industry. Argan’s service offerings focus on the engineering, procurement, and construction of natural gas-fired power plants and renewable energy facilities, along with related commissioning, maintenance, project development, and technical consulting services, through its Gemma Power Systems and Atlantic Projects Company operations. Argan also owns The Roberts Company, which is a fully integrated industrial construction, fabrication, and plant services company, and SMC Infrastructure Solutions, which provides telecommunications infrastructure services.

The Platin Power Station project is a testament to Argan’s commitment to sustainable energy solutions. The project will help address Ireland's energy security and support its net zero ambitions. The contract also reflects the growing demand for flexible power generation solutions to complement intermittent renewable sources.

References:
[1] https://finance.yahoo.com/news/argan-inc-atlantic-projects-company-130000016.html
[2] https://www.stocktitan.net/news/AGX/argan-inc-s-atlantic-projects-company-executes-platin-power-station-89147rewsqkc.html