B&W, Toshiba sign MOU to collaborate on power generation opportunities

Source: The Babcock & Wilcox Company

The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced that its subsidiary Babcock & Wilcox Power Generation Group, Inc. (B&W PGG) has signed a memorandum of understanding with Toshiba Corporation (Toshiba) to cooperatively explore strategic, manufacturing, research and other opportunities in advanced supercritical power generation and solar energy technologies around the world. 

The memorandum outlines a framework under which B&W PGG and Toshiba can pursue technical collaboration on next generation thermal and solar technologies and explore cooperation on project opportunities in Asia, India and other emerging markets. 

For example, Toshiba is currently building a steam turbine and generator factory in India, and B&W PGG, through a joint venture, recently began construction on a boiler manufacturing plant near Pune, India. The companies intend to examine joint developments to leverage these unique capabilities and resources to supply the needs of customers in India and elsewhere. 

"B&W and Toshiba have previously worked together on nuclear and fossil power initiatives. This arrangement is a natural progression in our relationship," B&W PGG President and Chief Operating Officer Richard L. Killion said. "We are looking to develop a comprehensive strategy for the practical development of energy initiatives that contribute to the mutual goals of B&W and Toshiba." 

B&W PGG and Toshiba plan to establish specific working groups to examine the details of collaborative opportunities in the power generation industry that could expand into formal information exchanges and definitive agreements as specific projects are considered and agreed upon.

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