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Babcock & Wilcox Enterprises Inc's (NYSE: BW) newly acquired Denmark-based B&W Renewable Service A/S subsidiary has secured a contract for more than $15 million to design and install a biomass-fired boiler and other combustion equipment for a green energy project in Europe.
The 48-megawatt boiler is the first B&W-designed bubbling fluidized bed (BFB) boiler to be installed in Europe by B&W Renewable Service.
B&W will also supply the boiler's external economizer, valves, instrumentation, and related equipment. The plant is scheduled to be operational in the second quarter of 2023.
Separately, B&W Environmental segment has bagged a contract for more than $5 million to design and supply highly efficient SPIG cooling towers for a pulp mill in South America.
B&W Environmental will provide a total of 18 cooling cells for three towers.
Price Action: BW shares are trading higher by 3.49% at $6.09 on the last check Thursday.
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