BUZZ-Babcock & Wilcox rises on plans to proceed on coal-to-gas switch project in Indiana

Reuters

2024/11/14

** Energy tech firm Babcock & Wilcox's shares rise 2.8% to $1.86 premarket ** Company's thermal business unit receives full notice to proceed on $246 mln contract for a coal-to-gas fuel-switching project at utility firm AES Indiana's Petersburg generating station

** Project will help AES Indiana phase out use of coal and reduce carbon dioxide emissions by converting the 1,160-MW Petersburg plant’s two coal-fired boilers to use natural gas as fuel

** Project scheduled for completion in Q1 2027

** As of last close, stock up ~24% YTD

(Reporting by Pooja Menon in Bengaluru) ((Pooja.Menon@thomsonreuters.com))

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