Babcock & Wilcox Enterprises, Inc. (NYSE:BW) shares are up during Tuesday’s premarket session, trading higher by over 35% after the company reported strong second-quarter results after market close on Monday.
New Agreement with Siemens Energy
Babcock & Wilcox penned a deal with Siemens Energy to begin work on 20 steam turbine generator sets, each rated at 50 MW, for a combined 1 GW of capacity under B&W’s FastPower program for data center projects.
The agreement builds on a previously announced turbine order and positions B&W to support accelerated power demand from AI data centers and large-scale generation projects.
The release points to AI data centers and large-scale power generation projects as key drivers of rising energy demand.
