B&W Takes 60% Stake In Fosler Construction

Babcock & Wilcox Enterprises Acquires 60% Stake In US Solar EPC Firm Fosler Construction, A Company With Over 1 GW PV Pipeline

B&W Takes 60% Stake In Fosler Construction

With Fosler Construction under its wings, B&W said it wants to aggressively pursue its renewable energy expansion and diversification. (Photo Credit: Babcock & Wilcox Enterprises, Inc.)

  • B&W has acquired 60% stake in US solar energy construction contractor Fosler Construction
  • Fosler Construction will become part of B&W’s renewables segment, led by Paul Fosler
  • The construction company is said to have a near-term pipeline of more than 1 GW solar capacity in the US

Power generation equipment provider Babcock & Wilcox Enterprises, Inc. (B&W) is to acquire a 60% stake in a solar EPC service company called Fosler Construction in a bid to expand its presence in the field of solar energy.

Illinois, US based Fosler Construction is a solar energy contractor catering to the commercial, industrial and utility scale solar services. B&W said the company has a near-term pipeline of more than 1 GW in the US solar industry.

Post the acquisition comes to a close at the end of September 2021, Fosler Construction will become part of B&W’s renewable segment that currently focuses on waste-to-energy and biomass technologies, among other offerings. Fosler Construction’s CEO Paul Fosler will continue to lead the team and also retain a minority ownership in the company.

“This transaction aligns with B&W’s aggressive growth and expansion of our clean and renewable energy businesses,” said B&W Chairman and CEO, Kenneth Young. “Fosler Construction’s expertise in the growing solar market, combined with B&W’s access to its existing customer relationships and resources to support larger projects, will allow us to aggressively pursue our ongoing renewable energy expansion and diversification.”

B&W’s move to dig deeper into solar comes at a time when the US federal administration has propelled it to be one of the major clean energy technologies to lead the plans to have a 100% decarbonized grid by 2035 (see US Wants 40% Electricity From Solar By 2035).

About The Author

Anu Bhambhani

SENIOR NEWS EDITOR Anu is our solar news whirlwind. At TaiyangNews, she covers everything that is of importance in the world of solar power. In the past 9 years that she has been associated with TaiyangNews, she has covered over thousands of stories, and analysis pieces on markets, technology, financials, and more on a daily basis. She also hosts TaiyangNews Conferences and Webinars. Prior to joining TaiyangNews, Anu reported on sustainability, management, and education for leading print dailies in India. [email protected]

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