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B&W Awarded $18 Million Contract For Power Plant Reheater Replacement
(CHARLOTTE, N.C. – February 12, 2016) – Babcock & Wilcox Enterprises, Inc. (NYSE:BW) announced today its subsidiary, The Babcock & Wilcox Company (B&W), has been awarded a contract for more than $18 million to engineer, manufacture and install a replacement reheater at Xcel Energy’s Pawnee Generating Station near Brush, Colo.
The components, which include horizontal and vertical reheater banks, will be manufactured in B&W’s Monterrey, Mexico facility and are scheduled for delivery in February.
“Xcel Energy is a long-time B&W customer, and we value our strong professional relationship,” said B&W Global Services Division Sr. Vice President Mark Low. “We believe our technically advanced design will offer a significant improvement in the operation of the unit.
“We appreciate the confidence Xcel Energy has shown in B&W and our service capabilities,” Low said.
The B&W reheater also features redesigned wall attachments that will facilitate simpler and faster installation. Start-up of the 500 megawatt Pawnee Unit 1 is scheduled for May 2016.
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 Xcel Energy contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing the Xcel Energy contract and adverse modifications to the contract, 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.