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Researched by Industrial Info Resources (Sugar Land, Texas)--Power technology provider Babcock & Wilcox Enterprises Incorporated (NYSE:BW) (Charlotte, North Carolina) reported revenues of $349.8 million for second-quarter 2017, a decrease of $33.4 million compared to the second quarter of 2016. Among the hits the company took this quarter was a $115.2 million charge for cost and schedule issues in its Renewable segment. Industrial Info is tracking $6.8 billion in active projects involving Babcock & Wilcox.
In a company press release, Babcock & Wilcox Chief Executive Officer E. James Ferland said, "As we advanced engineering and re-estimated overall productivity levels on six new-build projects in the Renewable segment, late in the quarter we concluded we would not hit our cost and schedule targets. We are diligently working with all parties involved to complete these projects within revised timelines."
Among the projects causing issues are renewables projects in the U.K., where Industrial Info is tracking biomass, waste-to-energy and wind projects involving Babcock & Wilcox. Among the waste-to-energy plants being tracked by Industrial Info is the Javelin Park Waste-to-Energy plant in Gloucester, England. Construction on the 14.5-megawatt (MW) plant began in mid-2016. The plant will dispose of 190,000 tons per year of municipal solid waste to fuel the boiler of the plant, providing energy to the grid. The project has an estimated total investment value of $233.8 million. For more information, see Industrial Info's project report.
Also on the books is the 40-MW biomass-fired combined heat and power in Port Clarence, England. The project is owned by Glennmont Partners (London, England) and began construction in early 2016. The facility is being constructed on a former refinery site and will burn 325,000 tons per year of waste wood to produce power and steam for commercial and residential use. The project is expected to be wrapped up in the first half of 2018. For more information, see Industrial Info's project report.
In the U.S., among the biggest projects Babcock & Wilcox has landed is Shell Chemical Company's (Houston, Texas) chemicals project is Monaca, Pennsylvania. The largest portion of the project consists of a 1.5 million-metric-ton-per-year grassroot ethylene plant, which will use ethane feedstock from Marcellus Shale natural gas. The project is expected to begin construction soon for completion in the first half of 2020. For more information, see Industrial Info's project report.
The ethylene unit could potentially feed downstream units also on Shell's radar. Among these is a high-density polyethylene unit in Monaca. The unit will have a production capacity of 550,000 tons per year. Construction could begin in mid-2019 for completion in late 2021. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
In a company press release, Babcock & Wilcox Chief Executive Officer E. James Ferland said, "As we advanced engineering and re-estimated overall productivity levels on six new-build projects in the Renewable segment, late in the quarter we concluded we would not hit our cost and schedule targets. We are diligently working with all parties involved to complete these projects within revised timelines."
Among the projects causing issues are renewables projects in the U.K., where Industrial Info is tracking biomass, waste-to-energy and wind projects involving Babcock & Wilcox. Among the waste-to-energy plants being tracked by Industrial Info is the Javelin Park Waste-to-Energy plant in Gloucester, England. Construction on the 14.5-megawatt (MW) plant began in mid-2016. The plant will dispose of 190,000 tons per year of municipal solid waste to fuel the boiler of the plant, providing energy to the grid. The project has an estimated total investment value of $233.8 million. For more information, see Industrial Info's project report.
Also on the books is the 40-MW biomass-fired combined heat and power in Port Clarence, England. The project is owned by Glennmont Partners (London, England) and began construction in early 2016. The facility is being constructed on a former refinery site and will burn 325,000 tons per year of waste wood to produce power and steam for commercial and residential use. The project is expected to be wrapped up in the first half of 2018. For more information, see Industrial Info's project report.
In the U.S., among the biggest projects Babcock & Wilcox has landed is Shell Chemical Company's (Houston, Texas) chemicals project is Monaca, Pennsylvania. The largest portion of the project consists of a 1.5 million-metric-ton-per-year grassroot ethylene plant, which will use ethane feedstock from Marcellus Shale natural gas. The project is expected to begin construction soon for completion in the first half of 2020. For more information, see Industrial Info's project report.
The ethylene unit could potentially feed downstream units also on Shell's radar. Among these is a high-density polyethylene unit in Monaca. The unit will have a production capacity of 550,000 tons per year. Construction could begin in mid-2019 for completion in late 2021. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
