Foster Wheeler awarded contract to supply bubbling fluidized-bed steam generator in Spain
ZUG, Switzerland - Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by Ingeteam Power Plants, S.A. to design, supply and erect a bubbling fluidized-bed (BFB) steam generator and the associated auxiliary equipment for Biomasa de Cantabria.
- (1888PressRelease) January 18, 2011 - A company majority owned by the Armando Álvarez Group, and by Mare (an entity belonging to the Regional Environment Department of the Cantabria Government) with a minor shareholding.
The BFB steam generator will be integrated into a power plant that Ingeteam is constructing for Biomasa de Cantabria at Reocin in the region of Cantabria, Spain. Foster Wheeler will design, supply, erect and provide commissioning services for the steam generator which will burn residual biomass, mainly bark and branches from nearby logging operations. The steam produced will be used for electricity generation.
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 fourth-quarter 2010 bookings. Commercial operation of the plant is scheduled for the fourth-quarter of 2012.
"This award clearly demonstrates Foster Wheeler's capability to provide a competitive, high-tech biomass-fired BFB steam generator system within the Spanish renewable marketplace," said Eric Svendsen, chief executive officer of Foster Wheeler Energia, S.L. in Madrid.
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 13,000 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, 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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