Balfour Beatty Wins £833 Million Contract for Net Zero Teesside Power Project

Balfour Beatty ( (GB:BBY) ) just unveiled an update.

Balfour Beatty has secured an £833 million contract from Technip Energies to construct the Net Zero Teesside Power project, which aims to be the world’s first gas-fired power station with carbon capture and storage. This project, a joint venture between bp and Equinor, will capture up to two million tonnes of CO2 annually and is expected to produce 742 megawatts of low-carbon power, supporting the UK’s transition to cleaner energy. The initiative will also boost regional economic growth in North-East England by generating thousands of jobs and aligns with the UK Government’s carbon capture investment strategy.

The most recent analyst rating on (GB:BBY) stock is a Buy with a £5.80 price target. To see the full list of analyst forecasts on Balfour Beatty stock, see the GB:BBY Stock Forecast page.

Spark’s Take on GB:BBY Stock

According to Spark, TipRanks’ AI Analyst, GB:BBY is a Outperform.

Balfour Beatty’s strong financial performance and positive earnings call sentiment are key strengths, supported by stable cash flow and strategic initiatives like share buybacks. Technical indicators suggest potential bullish momentum, and valuation metrics remain fair. Challenges in the US Civils segment and regulatory impacts are noted risks, but overall, the outlook remains optimistic.

To see Spark’s full report on GB:BBY stock, click here.

More about Balfour Beatty

Balfour Beatty is a leading international infrastructure group with over 27,000 employees. The company is involved in financing, developing, building, maintaining, and operating complex and critical infrastructure projects globally. It has a history of creating iconic buildings and infrastructure worldwide, including projects like Hinkley Point C in the UK, the Lyric Theatre in Hong Kong, and the Automated People Mover at Los Angeles International Airport.

Average Trading Volume: 1,130,220

Technical Sentiment Signal: Buy

Current Market Cap: £2.47B

Learn more about BBY stock on TipRanks’ Stock Analysis page.