Babcock & Wilcox Renewable Awarded $12 Million in Contracts for 144-Megawatts of Utility-Scale Solar Installation Projects

Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Renewable segment has been awarded contracts totaling more than $12 million for two utility-scale solar panel installation projects totaling 144-megawatts, located in the Midwest United States.

The photovoltaic solar farms will produce zero-carbon, zero-emissions power for more than 20,000 homes and businesses.

“The U.S. clean energy revolution is under way, and we’re excited to be part of these utility-scale solar projects,” said B&W Executive Vice President and Chief Operating Officer Jimmy Morgan. “B&W’s solar services are part of our broad suite of renewable energy, decarbonization and environmental solutions.”

“Our solar installation and service capabilities allow us to effectively serve a broad range of customers, including utility-scale installations such as these,” Morgan said. “As demand for clean energy solutions continues to grow, we’re optimistic about the ongoing growth of the North American solar energy market.”

Project planning is in progress and completion is scheduled for the fourth quarter of 2022.

About B&W

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc., is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com.

About B&W Renewable

Babcock & Wilcox Renewable offers cost-effective technologies for efficient and environmentally sustainable power and heat generation, including waste-to-energy, biomass energy and black liquor systems for the pulp and paper industry. B&W Renewable’s leading technologies support a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the awarding and completion of contracts for solar installation projects in the Midwest United States, as well as the growth of the North American solar energy market. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

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