B&W Turns Over Innovative Denmark Renewable Energy Project to Amager Ressourcecenter
February 04 2019 - 07:00AM
Business Wire
Babcock & Wilcox Enterprises, Inc. (NYSE:BW) (B&W)
announced today that its subsidiary, Babcock & Wilcox Vølund
A/S (B&W Vølund), has successfully turned over the leading-edge
Amager Bakke / Copenhill waste-to-energy plant near Copenhagen,
Denmark, to its customer, Amager Ressourcecenter (ARC).
B&W previously announced it expects to turn over four plants
in the first and second quarters of 2019. This project is the
second of those four. It was referred to as the “first project” in
B&W’s previous public disclosures about its European Renewable
projects.
The Copenhill project, which is jointly owned by five
Copenhagen-area municipalities, is a state-of-the-art renewable
energy plant featuring a modern and novel architectural design that
includes a publicly accessible ski slope on its roof. The plant is
capable of processing approximately 560,000 tonnes of waste
annually to supply more than 50,000 homes and businesses with
electricity and 120,000 households with district heating.
B&W Vølund’s project scope included the design and supply of
the plant’s boiler, B&W Vølund’s DynaGrate® combustion system,
slag and ash-handling equipment and advanced environmental
technology.
“This project demonstrates B&W’s commitment to helping our
customers use waste to create heat and power in an efficient and
environmentally conscious manner,” said B&W Chief Executive
Officer Kenneth Young. “It also reflects the hard work and
dedication of the talented project teams who have worked tirelessly
to reach this milestone.”
ARC Director Jacob H. Simonsen said his organization was pleased
to accept the plant turnover from B&W Vølund.
“The plant has in the past month been running very well and we
are producing large amounts of energy with very limited emissions,”
Simonsen said. “We are happy to have taken over a world-class
plant.”
B&W Vølund Managing Director Koen Bogers said the plant is a
showcase of Danish innovation.
“B&W Vølund has installed hundreds of waste and
biomass-fired units worldwide, but Copenhill is particularly
special for us because of its unique world-renowned design and
location near our own Denmark B&W Vølund headquarters,” Bogers
said. “We thank ARC for the opportunity to deliver one of the
premier renewable energy facilities in Europe. This plant not only
provides a highly efficient source of heat and power for the
community and supports a circular economy but also creates a novel
and innovative landmark for our region.”
The Copenhill plant’s impressive efficiency and environmental
performance are attributable in part to its combustion grate
technology – the B&W Vølund DynaGrate. This industry-leading
technology is based on more than 40 years of research and
development. It is ideally suited for waste-to-energy projects like
Copenhill that require a high level of accessibility, fuel
flexibility and energy recovery, and environmental performance.
About B&W
Babcock & Wilcox is a global leader in energy and
environmental technologies and services for the power and
industrial markets, and has been transforming our world for 151
years. Follow us on Twitter @BabcockWilcox and learn more at
www.babcock.com.
Forward-Looking Statements
B&W cautions that this release contains forward-looking
statements, including, without limitation, statements relating to
our strategic objectives and current and future project execution.
These forward-looking statements are based on management’s current
expectations and involve a number of risks and uncertainties,
including, among other things, our ability to continue as a going
concern; our ability to obtain and maintain sufficient financing to
provide liquidity to meet our business objectives, surety bonds,
letters of credit and similar financing; our ability to satisfy the
liquidity and other requirements under U.S. revolving credit
facility as recently amended, including our ability to receive
concessions from customers on our Renewable energy loss contracts;
our ability to maintain compliance with the NYSE’s continued
listing criteria; the highly competitive nature of our businesses;
general economic and business conditions, including changes in
interest rates and currency exchange rates; general developments in
the industries in which we are involved; cancellations of and
adjustments to backlog and the resulting impact from using backlog
as an indicator of future earnings; our ability to perform
contracts on time and on budget, in accordance with the schedules
and terms established by the applicable contracts with customers;
failure by third-party subcontractors, joint venture partners or
suppliers to perform their obligations on time and as specified;
our ability to realize anticipated savings and operational benefits
from our restructuring plans, and other cost-savings initiatives;
our ability to successfully address productivity and schedule
issues in our Renewable segment, including the ability to complete
our Renewable energy projects within the expected time frame and
the estimated costs; our ability to successfully partner with third
parties to win and execute renewable contracts; changes in our
effective tax rate and tax positions; our ability to maintain
operational support for our information systems against service
outages and data corruption, as well as protection against
cyber-based network security breaches and theft of data; our
ability to protect our intellectual property and renew licenses to
use intellectual property of third parties; our use of the
percentage-of-completion method of accounting; our ability to
successfully manage research and development projects and costs,
including our efforts to successfully develop and commercialize new
technologies and products; the operating risks normally incident to
our lines of business, including professional liability, product
liability, warranty and other claims against us; changes in, or our
failure or inability to comply with, laws and government
regulations; actual or anticipated changes in governmental
regulation, including trade and tariff policies; difficulties we
may encounter in obtaining regulatory or other necessary permits or
approvals; changes in, and liabilities relating to, existing or
future environmental regulatory matters; changes in actuarial
assumptions and market fluctuations that affect our net pension
liabilities and income; potential violations of the Foreign Corrupt
Practices Act; our ability to successfully compete with current and
future competitors; the loss of key personnel and the continued
availability of qualified personnel; our ability to negotiate and
maintain good relationships with labor unions; changes in pension
and medical expenses associated with our retirement benefit
programs; social, political, competitive and economic situations in
foreign countries where we do business or seek new business; the
possibilities of war, other armed conflicts or terrorist attacks;
the willingness of customers and suppliers to continue to do
business with us on reasonable terms and conditions; and our
ability to successfully consummate strategic alternatives for
non-core assets, if we determine to pursue them. If one or more of
these risks or other risks materialize, actual results may vary
materially from those expressed. For a more complete discussion of
these and other risk factors, see B&W’s filings with the
Securities and Exchange Commission, including our most recent
annual report on Form 10-K and subsequent quarterly reports on Form
10-Q. B&W cautions not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
release, and undertakes no obligation to update or revise any
forward-looking statement, except to the extent required by
applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190204005226/en/
Investor Contact:Megan WilsonVice President, Corporate
Development & Investor RelationsBabcock &
Wilcox704.625.4944 | investors@babcock.comMedia Contact:Ryan
CornellPublic RelationsBabcock & Wilcox330.860.1345 |
rscornell@babcock.com
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