Babcock & Wilcox Bags $15M In Solar Power Installation Contracts

Babcock & Wilcox Enterprises Inc BW subsidiary, Babcock & Wilcox Solar Energy Inc, has secured contracts totaling more than $15 million by Summit Ridge Energy LLC (SRE).
Babcock will engineer, procure and construct five community solar power installations in Illinois.
The company will also manage subcontractors, site coordination and supervision and the electrical tie-ins to the grid.
The projects, totaling approximately 15 megawatts, are scheduled for completion in 2023.
In August 2022, B&W was awarded contracts totaling more than $20 million to build seven photovoltaic solar farms.
"The market for community solar projects in the U.S. is growing substantially thanks to high demand for affordable, clean energy, as well as state and federal incentives for renewable energy, including for solar power," said Joe Buckler, B&W Senior Vice President, Clean Energy.
Price Action: BW shares closed higher by 0.54% at $5.56 on Friday.
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