Babcock & Wilcox Power Generation Group Inc. (B&W
PGG), an affiliate of leading clean energy technology and service
The Babcock & Wilcox Co.
), has entered into a deal with the FutureGen Industrial
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Per the contract, B&W PGG is expected to carry out full
front-end engineering and design on the development of Meredosia,
Illinois-based FutureGen 2.0 carbon capture and storage (CCS)
project. Included in the contract, the company will likely design
and provide a boiler island, oxy-coal combustion system and gas
quality control system.
B&W PGG added that the primary aim of the project is to
reduce the carbon dioxide emission of the coal fired plant by 90%
which comes to above 1 million tons annually.
B&W PGG reveals that the current deal with FutureGen
Industrial Alliance represents the beginning of the second phase
of the U.S. Department of Energy (DOE) project. Moreover, DOE
will provide finance of up to $49 million for Phase 2 operations
of BWC. However, the manufacturing of the coal fired plant is
expected to start by Jun 2014 and will constitute the third phase
of the DOE-funded development.
Charlotte, North Carolina-based BWC is engaged in providing clean
energy technology and services for nuclear, fossil and renewable
power markets worldwide. The company operates in four business
units: Power Generation, Nuclear Operations, Technical Services
and Nuclear Energy.
BWC currently holds a Zacks Rank #2 (Buy), implying that it is
expected to outperform the broader U.S. equity market over the
next one to three months.
Meanwhile, one can look at energy firms like
Stone Energy Corp.
Enbridge Energy Management LLC
Matador Resources Co.
) that offer value. All the stocks sport a Zacks Rank #1 (Strong