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Stated as done, per babcock.com: "(AKRON, Ohio - March 4, 2026) - Babcock & Wilcox ... announced today that it has received full notice to proceed on a $2.4 billion design-build agreement"; the Business Wire copy on Yahoo Finance is timestamped 11:30 UTC.
B&W's filed August 2026 presentation: the $2.4B, 1.2 GW Base Electron project "will be located near Center, North Dakota" and its Conditional Use Permit was submitted in August 2026, with potential for another 1.2 GW.[1]
The agreement itself, dated 26 February 2026: Base Electron is developing a 1,200 MW generation facility; B&W commits to keep the Contract Price within $2,400,000,000 and guarantees each unit's Commercial Operation Readiness date (the schedule is redacted).[1]
Applied Digital's 10-Q: the 4 November 2025 B&W warrant agreement, the 26 February 2026 Design-Build Agreement between Base Electron and B&W, Applied Digital's guarantee of Base Electron's obligations and its ~10% stake in Base Electron.[1]
Industrial Info tracks Applied Digital campuses in Louisiana, Iowa and the Dakotas and links a North Dakota data center with the B&W power system; it names Polaris Forge 1 at Ellendale, not the site B&W later named near Center.
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