B&W Awarded Contracts Totaling More Than $190 Million to Build and Operate U.K. Biomass Plant
21 September 2015 - 10:30PM
Business Wire
Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW)
announced today that a joint venture including its Denmark-based
subsidiary, Babcock & Wilcox Vølund A/S, has been awarded a
contract to design and build the Teesside Renewable Energy Plant
near Middlesbrough, England. B&W Vølund also was awarded a
separate contract to provide operations and maintenance services
for the plant. B&W’s portions of the two contracts total more
than $190 million.
B&W Vølund, through its U.K. subsidiary and a joint venture
with Lagan Construction Group Limited, has contracted with
developers Eco2 Ltd. and Temporis Capital to build the 40 megawatt
waste wood fired biomass power plant for Port Clarence Energy
Ltd.
The project scope includes a boiler and environmental controls
designed by B&W Vølund and its G�taverken Milj� AB subsidiary,
including a dry flue gas desulfurization system (dry FGD), fabric
filter baghouse, continuous emissions monitoring equipment and a
DynaGrate® fuel combustion system. The plant is designed to burn 34
tons of waste wood per hour.
“The Teesside Renewable Energy Plant will provide clean,
sustainable energy for the local community, and we’re pleased
B&W Vølund’s technology and expertise were chosen for the
project,” said B&W Global Power Division Sr. Vice President
Paul Scavuzzo. “With more than 500 biomass and waste-to-energy
units installed worldwide and O&M experience, we bring
unmatched capabilities to this important project.”
Project engineering is currently underway and construction is
scheduled for completion in the first quarter of 2018. B&W
Vølund will operate the plant under a 15-year contract.
About B&W
Headquartered in Charlotte, N.C., Babcock & Wilcox is a
global leader in energy and environmental technologies and services
for the power and industrial markets. B&W companies employ
approximately 6,000 people around the world. Follow us on Twitter
@BabcockWilcox and learn more at www.babcock.com.
Cautionary Statement Regarding Forward Looking
Statements
B&W cautions that this release contains forward-looking
statements, including statements relating to the scope, timing and
value, to the extent value may be viewed as an indicator of future
revenues, of the Teesside contracts. These forward-looking
statements involve a number of risks and uncertainties, including,
among other things, delays or other difficulties executing the
Teesside contracts and adverse modifications to the contracts,
including termination. If one or more of these or other risks
materialize, actual results may vary materially from those
expressed. For a more complete discussion of these and other risk
factors, please see B&W's filings with the Securities and
Exchange Commission, including the information statement on Form 10
and subsequent reports on Form 10-Q. B&W cautions not to place
undue reliance on these forward-looking statements, which speak
only as of the date this release, and undertakes no obligation to
update or revise any forward-looking statement, except to the
extent required by applicable law.
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version on businesswire.com: http://www.businesswire.com/news/home/20150921005662/en/
Babcock & WilcoxMedia Contact:Ryan Cornell,
330-860-1345Public Relationsrscornell@babcock.comorInvestor
Contact:Leslie Kass, 704-625-4944Vice President, Investor
Relations and Communicationsinvestors@babcock.com
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