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Arcosa has received wind tower orders of approximately US$ 750 million for delivery beginning in 2024 and continuing through 2028. The majority of these orders will support wind energy expansion projects currently underway in the Southwest.
As a result, Arcosa plans to open a manufacturing facility in Belen, New Mexico, strategically located to supply these projects. The $750 million of new orders are expected to be eligible for the Advanced Manufacturing Production tax credit included in the Inflation Reduction Act. Arcosa plans to invest $55 to $60 million to purchase property, modify the existing plant, and procure necessary equipment for the new facility. Production is expected to begin in mid-2024.
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