PARUZZARO, Italy--(BUSINESS WIRE)--SPIG S.p.A. (SPIG), a subsidiary of Babcock & Wilcox Enterprises, Inc., has been awarded a contract to supply a sea water cooling tower to SEPCOIII for the Al Dur Phase II Independent Water and Power Project in the Kingdom of Bahrain.
Al Dur Phase II is a 1,500-megawatt, combined cycle gas turbine (CCGT) plant with a desalination component capable of producing up to 50 million gallons of fresh water each day.
“SPIG is grateful SEPCOIII has chosen us to be a part of this large, critical infrastructure project for the Kingdom of Bahrain,” said SPIG Managing Director Alberto Galantini. “SPIG’s sea water cooling tower technology provides a high degree of corrosion protection and excellent reliability under demanding conditions. We look forward to contributing to this exciting project.”
SPIG will supply 40 induced draft counter flow cells constructed from fiberglass reinforced plastic (FRP) in a back-to-back configuration capable of handling a total water flow of more than 118,000 cubic meters per hour.
SPIG uses corrosion-free FRP pultruded profiles for its cooling tower structure and the main PVC internal components. Mechanical equipment is protected with suitable coatings providing a high degree of protection for salt water applications.
The plant is scheduled to be fully operational by the second quarter of 2022. The project developer is a consortium led by ACWA Power Saudi Arabia.
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 152 years. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com.
About SPIG
SPIG, S.p.A. is a subsidiary of Babcock & Wilcox Enterprises, Inc. and a global turnkey cooling systems supplier. Since 1936, SPIG has provided customers with an extensive range of high quality cooling towers, air-cooled condensers and related services.
Forward-Looking Statements
B&W Enterprises, Inc. (the “Company”) cautions that this release contains forward-looking statements, including, without limitation, statements relating to the supply of materials and 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 our revolving credit facility as recently amended; our ability to refinance said facility in a timely manner, if at all; 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 the Company is involved; cancellations of and adjustments to backlog; 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 Vølund and Other Renewable segment, including the ability to complete our European EPC 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 the Company 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 the Company does 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 the Company determines 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 the Company’s filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. The Company 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.
