B&W Vølund Awarded Contracts For More Than $200 Million For Biomass Power Plant in Wales
January 28 2015 - 8:30AM
Business Wire
The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced
today that its Denmark-based subsidiary, Babcock & Wilcox
Vølund A/S, has been awarded contracts by Margam Green Energy Ltd.
for more than $200 million to engineer, procure and operate a
state-of-the-art biomass power plant in Margam, Wales. B&W
Vølund’s consortium partner, Interserve Construction Ltd., will
build the plant.
The plant will be designed to burn 335,000 tons of wood waste
biomass annually and generate approximately 40 megawatts of
electricity. The facility also will be capable of using municipal
waste as a fuel source in the future.
The plant will feature advanced 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 an advanced
DynaGrate® dynamic fuel combustion system.
Babcock & Wilcox Power Generation Group, Inc. Global Power
Division Vice President Paul Scavuzzo thanked Margam Green Energy
for its selection of B&W Vølund for the project. “Because of
their many environmental benefits, biomass and waste-to-energy
continue to be preferred renewable energy options for many B&W
customers around the world,” Scavuzzo said. “We thank Margam Green
Energy for this opportunity and look forward to building and
operating this advanced clean energy plant.”
The project also demonstrates B&W’s focus on growing its
international power business, said B&W President and Chief
Executive Officer E. James Ferland. “The Margam project is the
fifth major coal, renewable or waste-to-energy contract announced
by B&W’s power generation subsidiary in the last seven months,”
Ferland said. “We continue to look globally for opportunities to
grow our business in the fossil power and renewable sectors, while
maintaining limited exposure to the impact of a turbulent global
oil market.”
Engineering is underway in B&W Vølund’s Denmark offices.
Construction is scheduled to be completed by the second quarter of
2017.
The project was booked in the first quarter of 2015.
About B&WHeadquartered in Charlotte, N.C., The
Babcock & Wilcox Company is a leader in clean energy technology
and services, primarily for the nuclear, fossil and renewable power
markets, as well as a premier advanced technology and mission
critical defense contractor. B&W has locations worldwide and
employs approximately 11,600 people, in addition to joint venture
employees located at projects around the world. Follow us on
Twitter @BabcockWilcox and learn more at www.babcock.com.
Cautionary Statement Regarding Forward Looking
StatementsB&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 Margam contracts. These
forward-looking statements involve a number of risks and
uncertainties, including, among other things, delays or other
difficulties executing the Margam 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 its annual report on
Form 10-K for the year ended December 31, 2013 and subsequent
quarterly 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.
The Babcock & Wilcox CompanyMedia Contact:Ryan
Cornell, Media Relations,
330-860-1345rscornell@babcock.comorInvestor Contact:Jenny
Apker, Vice President, Treasurer and Investor Relations,
704-625-4937investors@babcock.com