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- Mar 4, 202690% CONFIDENCEfrom the source
Babcock & Wilcox Gets Go-Ahead on $2.4B Base Electron Power Plant
- On 4 March 2026 Babcock & Wilcox received full notice to proceed on a $2.4 billion design-build agreement with Base Electron, an independent power producer backed by Applied Digital, to deliver 1.2 GW of new generation capacity[1][6].
- The agreement itself is dated 26 February 2026; B&W undertakes to keep the contract price within $2.4 billion and guarantees each unit's commercial-operation-readiness date[3][4].
- The project is four 300 MW natural gas-fired boilers with steam turbine generator systems; B&W will engineer, procure and construct it, and Siemens Energy was formally released to design and supply the turbine sets[1][6].
- The power is to supply Applied Digital AI Factory campuses under separate power supply agreements, and Base Electron is weighing an option for another 1.2 GW[1][6].
- Applied Digital guarantees Base Electron's obligations to B&W and holds about 10% of Base Electron, whose owners include some Applied Digital officers and directors[4].
- The release named no site; B&W's August 2026 investor deck put the project near Center, North Dakota, where this pin is placed[2]; Industrial Info had instead linked the B&W system to Applied Digital's Polaris Forge campus at Ellendale[5].
References 687% CONFIDENCE
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- [1]90%babcock.com/home/about/corporate/news/babcock-and-wilcox-receives-full-notice-to-proceed-on-24-billion-power-generation-project-for-base-electron-to-supply-power-to-applied-digital-ai-factory-campusesbabcock.com· Posted Sep 23, 2026· Starts Mar 4, 2026 ✓· 26% of score
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.
- [2]90%Babcock & Wilcox investor overview, August 2026 (8-K exhibit)sec.gov· Published Aug 10, 2026· 22% of score
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]
- [3]90%Design-Build Agreement between Base Electron, Inc. and The Babcock & Wilcox Company (10-Q Exhibit 10.3)sec.gov· Published May 11, 2026· 15% of score
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]
- [4]85%Applied Digital Form 10-Q for the quarter ended February 28, 2026sec.gov· Published Apr 8, 2026· 13% of score
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]
- [5]75%Babcock & Wilcox Signs $2.4 Billion Deal to Support Applied Digital Data Centersindustrialinfo.com· Published Mar 17, 2026· 12% of score
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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