Babcock & Wilcox Bags NorthStar Clean Energy Permit to Proceed with Work for Coal-to-Biomass Power Plant Conversion and Carbon Capture Project in Michigan
Portfolio Pulse from Benzinga Newsdesk
Babcock & Wilcox (NYSE:BW) has received a limited notice to proceed from NorthStar Clean Energy for a Bioenergy with Carbon Capture and Storage (BECCS) project in Michigan. The project involves converting a former coal-fired power plant to use biomass fuel and adding carbon capture technology. Full notice to proceed is expected in Q4 2024.
June 03, 2024 | 10:38 am
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Babcock & Wilcox has received a limited notice to proceed for a BECCS project in Michigan, which involves converting a coal plant to biomass and adding carbon capture technology. Full notice to proceed is expected in Q4 2024.
The limited notice to proceed allows B&W to begin detailed design and procurement work, which is a positive development. The full contract, expected in Q4 2024, will likely boost investor confidence and potentially drive the stock price up in the short term.
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