UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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Item 8.01. Other Events.
Kilroot Power Station
On May 3, 2024, the project and construction teams of Atlantic Projects Company UK Limited (“APC”), which is the subsidiary of Argan, Inc. (“Argan”) contracted to construct the Kilroot Power Station, a 2x330 MW natural gas-fired power plant located near Belfast, Northern Ireland (the “Kilroot Project”), vacated the construction site having served a contract termination notice.
APC shall continue to pursue all of its rights under the contract, including those related to variations, extensions of time and additional payments, and will do so through legal means if necessary.
Midwest Solar and Battery Project
Gemma Power Systems (“Gemma”), a wholly owned subsidiary of Argan, recently received full notice to proceed with engineering, procurement and construction services for a solar power and battery storage project. Under a limited notice to proceed, as previously disclosed, Gemma commenced early engineering and design activities as well as the procurement of major equipment related to this project. The project will represent 48 MW of electrical power and 6 MWh of energy storage. This project together with two other solar and battery projects for which we received full notices to proceed in January 2024, cumulatively represent 160 MW of electrical power and 22 MWh of energy storage.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| ARGAN, INC. | ||||
Date: May 9, 2024 |
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| By: |
| /s/ Richard H. Deily | |
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| Richard H. Deily | |||
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| Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary | |||