Babcock & Wilcox Enterprises, Inc BW has secured contracts totaling more than $20 million from Summit Ridge Energy, LLC, a commercial solar developer in Illinois.
The contract includes the engineering, procurement, and construction (EPC) of 25 megawatts of community solar energy projects in Illinois.
B&W has already completed a $15 million project announced in March 2023 for Summit Ridge Energy and a $20 million project announced in 2022.
Under the new contract, the company will engineer, procure and construct the six photovoltaic solar projects, with completion scheduled for 2024.
"We value our strong, ongoing relationship with Summit Ridge Energy and are excited to develop more projects in the future as we look to grow and expand B&W's presence in the community solar industry," said COO Jimmy Morgan.
Price Action: BW shares are trading higher by 1.12% at $5.40 in premarket on Monday.
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