Indianapolis Power & Light Co. has awarded the engineering, procurement and construction contract for a new natural gas plant in Martinsville. Texas-based CB&I (NYSE:CBI) is expected to begin on-site construction next year and complete the project in 2017. CB&I's parent company, Chicago Bridge & Iron Co. N.V. (NYSE: CBI), is based in the Netherlands.

June 19, 2014

News Release

INDIANAPOLIS, Ind. – Indianapolis Power & Light Company (IPL) announced today it has awarded the Engineering, Procurement and Construction (EPC) contract for its new combined-cycle gas turbine (CCGT) power station near Martinsville to CB&I Stone & Webster after a competitive bidding process. IPL has also selected General Electric's 7FA.05 series gas turbines for the new plant which will generate approximately 671 megawatts of electricity more efficiently and with fewer environmental emissions than the retiring Eagle Valley coal plant.

CB&I Stone & Webster has extensive experience building similar CCGT projects domestically. Engineering and procurement for the CCGT will begin immediately, while on-site construction will begin in 2015. The selection of the gas turbines was based on cost, performance and long-term maintainability.

Last month the Indiana Utility Regulatory Commission (IURC) approved IPL’s request for a Certificate of Public Convenience and Necessity (CPCN) which allows IPL to invest approximately $600 million into a new CCGT and $36 million to convert Units 5 and 6 at the Harding Street Generation Station from coal to natural gas.

Vendors and suppliers interested in being a part of the construction of the new CCGT should visit IPLpower.com and go to the “Our Company” tab and select the IPL Suppliers page. Trade and crafts workers interested in being hired for the CCGT construction should work through their local union hiring hall.

Construction on the CCGT is expected to be complete in 2017. The conversion of Harding Street Units 5 and 6 will be complete by mid-2016.

Those interested in learning more about the project are invited to visit www.IPLpower.com/generation. Questions about the project can be sent to IPLanswers@aes.com.

About Indianapolis Power & Light Company (IPL)

Indianapolis Power & Light Company provides retail electric service to more than 470,000 residential, commercial and industrial customers in Indianapolis, as well as portions of other Central Indiana communities surrounding Marion County. During its long history, IPL has supplied its customers with some of the lowest-cost, most reliable power in the country. For more information about the company, please visit www.IPLpower.com or connect with us at www.twitter.com/IPLpower, www.facebook.com/IPLpower or www.linkedin.com/company/IPLpower.

Source: Indianapolis Power & Light Co.

June 19, 2014

News Release

THE WOODLANDS, Tex. – CB&I (NYSE:CBI) today announced it has been awarded a contract by AES Corporation subsidiary Indianapolis Power & Light Company valued at more than $500 million for the engineering, procurement and construction (EPC) of a combined-cycle gas turbine power station near Martinsville, Indiana. The 671-megawatt unit will be built adjacent to the existing Eagle Valley station.

“This award continues CB&I's history of successful combined-cycle gas turbine EPC projects and exemplifies CB&I's expertise in helping Indianapolis Power & Light Company meet the growing demand for clean, affordable and reliable energy,” said Patrick K. Mullen, President of CB&I's Engineering, Construction and Maintenance operating group.

About CB&I

CB&I (NYSE:CBI) is the most complete energy infrastructure focused company in the world and a major provider of government services. With 125 years of experience and the expertise of approximately 55,000 employees, CB&I provides reliable solutions while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information, visit www.cbi.com.

Source: CB&I

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