Why Did BW Stock Jump 15% In Pre-Market Today?
Synopsis
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.
Get updates to this developing story on Stocktwits.<
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.