Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by BHI Co., Ltd. for design collaboration on two supercritical pulverized coal (PC) fired steam generators for the Buk-Pyeong Power Plant project for STX Electric Power Co., Ltd. (STXEP).
BHI, which is Foster Wheeler’s licensee for utility PC technology in the region, will supply two 595 MWe (gross megawatt electric) supercritical PC steam generators and other major equipment for the project, which is located in the province of Gangwon-do, South Korea. The Foster Wheeler design couples the company’s proven wall-fired PC steam generator with advanced BENSON vertical-tube (BVT) supercritical steam technology, achieving plant efficiencies well beyond conventional units.
Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the contract value will be included in the company’s third-quarter 2012 bookings. Commercial operation of the new steam generator is scheduled for the fourth quarter of 2015 for the first unit and second quarter of 2016 for the second unit.
“While the benefits of Foster Wheeler’s advanced supercritical PC technology have already been demonstrated in the utility market, this is our first such contract in the South Korean market,” said Byron Roth, Chief Executive Officer of Foster Wheeler North America Corp. “The combination of our design package and BHI’s equipment will deliver state of the art steam generator efficiency and environmental performance.”
“As Foster Wheeler’s licensee for this technology, we are delighted with the contract award from STX Electric Power,” said Geun-Heung Lee, Vice Chairman of BHI Co., Ltd. “We look forward to working with Foster Wheeler to build this environmentally friendly, advanced-technology base-load thermoelectric power plant in Korea.”
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