Babcock & Wilcox Renewable Awarded $12 Million in Contracts for 144-Megawatts of Utility-Scale Solar Installation Projects

Rhea-AI Summary

Babcock & Wilcox (NYSE: BW) announced contracts exceeding $12 million for two utility-scale solar panel projects with a combined capacity of 144 megawatts in the Midwest U.S. These projects aim to produce zero-carbon power for over 20,000 homes and businesses. B&W's Executive VP, Jimmy Morgan, expressed optimism about the growing demand for clean energy solutions and the North American solar market. The projects are scheduled for completion in Q4 2022, signaling B&W's commitment to the clean energy revolution and its renewable energy solutions.

Positive

• Contracts awarded for utility-scale solar projects worth over $12 million.
• Projects will generate zero-carbon power for more than 20,000 homes and businesses.
• Expansion into the growing North American solar energy market.

Negative

• None.

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Renewable segment has been awarded contracts totaling more than $12 million for two utility-scale solar panel installation projects totaling 144-megawatts, located in the Midwest United States.

The photovoltaic solar farms will produce zero-carbon, zero-emissions power for more than 20,000 homes and businesses.

“The U.S. clean energy revolution is under way, and we’re excited to be part of these utility-scale solar projects,” said B&W Executive Vice President and Chief Operating Officer Jimmy Morgan. “B&W’s solar services are part of our broad suite of renewable energy, decarbonization and environmental solutions.”

“Our solar installation and service capabilities allow us to effectively serve a broad range of customers, including utility-scale installations such as these,” Morgan said. “As demand for clean energy solutions continues to grow, we’re optimistic about the ongoing growth of the North American solar energy market.”

Project planning is in progress and completion is scheduled for the fourth quarter of 2022.

About B&W

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc., is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com.

About B&W Renewable

Babcock & Wilcox Renewable offers cost-effective technologies for efficient and environmentally sustainable power and heat generation, including waste-to-energy, biomass energy and black liquor systems for the pulp and paper industry. B&W Renewable’s leading technologies support a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the awarding and completion of contracts for solar installation projects in the Midwest United States, as well as the growth of the North American solar energy market. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220725005329/en/

Investor Contact:

B&W Investor Relations

704.625.4944 | investors@babcock.com



Media Contact:

Ryan Cornell

Public Relations

Babcock & Wilcox

330.860.1345 | rscornell@babcock.com

 

Source: Babcock & Wilcox Enterprises, Inc.

FAQ

What are the details of the contracts awarded to Babcock & Wilcox (BW)?

Babcock & Wilcox has been awarded contracts totaling over $12 million for two solar panel installation projects with a total capacity of 144 megawatts.

How many homes and businesses will benefit from Babcock & Wilcox's solar projects?

The solar projects will provide power for more than 20,000 homes and businesses.

When is the completion date for Babcock & Wilcox's solar projects?

The completion of the solar projects is scheduled for the fourth quarter of 2022.

What is Babcock & Wilcox's role in the clean energy market?

Babcock & Wilcox is actively participating in the U.S. clean energy revolution by providing renewable energy solutions, including utility-scale solar installations.