Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) announced today that it has completed its acquisition of a majority interest in Illinois-based solar energy contractor Fosler Construction Company Inc. Fosler will be part of the B&W Renewable segment and operate under the name Fosler Solar, a Babcock & Wilcox company.
“We are pleased to welcome the talented Fosler team to B&W,” said Kenneth Young, B&W Chairman and Chief Executive Officer. “We’re particularly excited about the key role Fosler Solar will play in the growth of B&W’s renewable energy business and the substantial opportunities we see in the market for solar installation and construction services in the U.S. Fosler Solar is one of the fastest-growing solar services firms in the country, and we intend to fully support and help accelerate that growth.” Paul Fosler will continue to lead Fosler Solar as its Chief Executive Officer and remains a minority stakeholder in the business.
Founded in 1998 and employing approximately 120 people, Fosler Solar provides commercial, industrial and utility-scale solar services and owns two community solar projects currently under development in Illinois.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets.