Why Did BW Stock Jump 15% In Pre-Market Today?

The company announced approval for a $2.4 billion power generation project for Applied Digital-backed Base Electron.

Shares of Babcock & Wilcox (BW) surged 15% in pre-market trading on Wednesday, after the company announced that it has received a notice to proceed on a $2.4 billion power generation project for Applied Digital-backed Base Electron.

The project will deliver 1.2 gigawatts of new capacity to supply electricity to Applied Digital’s AI Factory campuses. The facility will include four 300-megawatt natural gas-fired boilers and steam turbine generators.

Babcock & Wilcox will handle engineering, procurement, and construction, while Siemens Energy will design and supply the steam turbine systems. The company is also exploring an option with Base Electron to add another 1.2 gigawatts of generation capacity to support potential future expansion of the project.

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