The Babcock & Wilcox Company (B&W) (NYSE: BWC) announced today that its subsidiary Babcock & Wilcox Power Generation Group, Inc. (B&W PGG) has been awarded a contract valued at more than $30 million to design and supply a selective catalytic reduction (SCR) system for Xcel Energy's coal-fired Pawnee Generating Station in Brush, Colo.

The SCR system, used to control nitrogen oxides (NOX) emissions from the plant's boiler, is the second major environmental project that B&W has announced it will execute for Xcel Energy this year. In February, B&W announced a contract to design and supply two spray dry absorber (SDA) units for sulfur dioxide (SO2) emissions control at the 500 megawatt Pawnee plant.

"We're appreciative that Xcel Energy has selected B&W to help it comply with the Colorado Clean Air-Clean Jobs Act," said B&W PGG President and Chief Operating Officer J. Randall Data. "B&W's many decades of experience with environmental controls is unmatched in the industry and allows us to provide solutions for all of our customers' emissions reduction needs."

Start-up of the new equipment is scheduled for mid-2014.

About B&W

Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets, as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 12,700 people, in addition to approximately 10,400 joint venture employees. Learn more at www.babcock.com.

Cautionary Statement Regarding Forward Looking Statements

B&W cautions that this release contains forward-looking statements, including statements relating to the scheduled start-up of the SCR system for the Xcel Energy project. Forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing on contracts in backlog. If one or more of these or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, please see B&W's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2011. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.