Argan, Inc. (NYSE: AGX), a construction company focused on the power generation industry, witnessed a pre-market surge of 5.43% on Thursday, February 6th, 2025. This rally can be attributed to the company's recent announcement of securing a significant engineering, procurement, and construction (EPC) contract for a 1.2 GW ultra-efficient natural gas-fired power plant in Lee County, Texas.

Argan's wholly-owned subsidiary, Gemma Power Systems, entered into the EPC services contract with Sandow Lakes Energy Company, LLC. The project, expected to commence construction this summer and be completed by 2028, will supply power to approximately 800,000 homes within the Electric Reliability Council of Texas (ERCOT) region.

This major contract win highlights Argan's robust expertise and track record in the power generation sector, positioning the company for further growth amid increasing demand for reliable and efficient energy sources. Analysts have noted that Argan's strong revenue growth in renewable projects, supported by a robust backlog and zero-debt status, positions it for potential earnings increases in the coming years.