Foster Wheeler Awarded Limited Notice to Proceed for Four Supercritical Circulating Fluidized-Bed Steam Generators in Korea
May 31 2011 - 8:15AM
Business Wire
Foster Wheeler AG (Nasdaq: FWLT) announced today that a
subsidiary of its Global Power Group has been given a limited
notice to proceed (LNTP) by Hyundai Engineering and Construction
for the design and supply of four supercritical circulating
fluidized-bed (CFB) steam generators for the Samcheok Green Power
project for Korea Southern Power Co., Ltd. (KOSPO), the owner and
developer of the project.
The terms of the agreement were not disclosed, and the value of
the LNTP will be included in the company’s second-quarter 2011
bookings. Foster Wheeler expects to finalize the contract and to
receive full notice to proceed in June, at which time the full
value of the contract would be booked. Commercial operation of the
new steam generators is scheduled to begin in June 2015.
Foster Wheeler will design and supply four 550 MWe (gross
megawatt electric) supercritical CFB steam generators and provide
site advisory and commissioning services for the project. The CFB
steam generators will be designed to burn coal mixed with biomass
while meeting all environmental regulatory requirements.
“This project, the first Foster Wheeler supercritical CFB steam
generators to be supplied into the Korean power market, represents
a new era of green power generation for the future in Korea,” said
Gary Nedelka, Chief Executive Officer of Foster Wheeler Global
Power Group. “Our supercritical CFB technology combines the
benefits of CFB combustion -- burning a wide range of solid fuels
including biomass -- with the high efficiency of supercritical
steam. The end result for the client is an extremely efficient,
low-emission plant that operates with reduced levels of fuel
consumption compared to conventional subcritical steam generators.
We welcome this opportunity to provide KOSPO our quality product at
a competitive price.”
Foster Wheeler AG is a global engineering and construction
contractor and power equipment supplier delivering technically
advanced, reliable facilities and equipment. The company employs
approximately 12,000 talented professionals with specialized
expertise dedicated to serving its clients through one of its two
primary business groups. The company’s Global Engineering and
Construction Group designs and constructs leading-edge processing
facilities for the upstream oil and gas, LNG and gas-to-liquids,
refining, chemicals and petrochemicals, power, mining and metals,
environmental, pharmaceuticals, biotechnology and healthcare
industries. The company’s Global Power Group is a world leader in
combustion and steam generation technology that designs,
manufactures and erects steam generating and auxiliary equipment
for power stations and industrial facilities and also provides a
wide range of aftermarket services. The company is based in Zug,
Switzerland, and its operational headquarters office is in Geneva,
Switzerland. For more information about Foster Wheeler, please
visit our Web site at www.fwc.com.
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