Source: Foster Wheeler
Foster Wheeler AG (Nasdaq: FWLT) announced that a subsidiary of its Global Power Group has been given the full notice to proceed (FNTP) by Hyundai Engineering and Construction for the design and supply of four 550 MWe (gross megawatt electric) 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 FNTP will be included in the company's second-quarter 2011 bookings. Foster Wheeler was awarded a limited notice to proceed on the contract in May. Commercial operation of the new steam generators is scheduled to begin in June 2015.
Foster Wheeler will design and supply four 550 MWe advanced vertical-tube, once-through supercritical CFB steam generators and provide site advisory services for the project. The CFB steam generators will be designed to burn coal mixed with biomass while meeting applicable environmental regulatory requirements.
After more than a year of careful study and evaluation, KOSPO selected the Foster Wheeler CFBs over conventional pulverized coal (PC) technology due to its many benefits ranging from fuel procurement flexibility, low emissions without requiring costly add-on flue gas desulfurization equipment and the proven track record of Foster Wheeler's supercritical CFBs.
"We welcome the opportunity to be a part of this state-of-the-art power plant," said Tomas Harju-Jeanty, President and Chief Executive Officer of Foster Wheeler Energia Oy Group. "The plant will utilize the world's most advanced CFB steam generator technology, representing a culmination of over 30 years of CFB technology development by Foster Wheeler."
"KOSPO is fully confident in Foster Wheeler's state-of-the-art CFB technology," said Ho Ki Nam, President and CEO of KOSPO. "I believe the Samcheok project will become a great demonstration of Foster Wheeler's supercritical CFB boilers in Asia, as well as in other parts of world."
"Upon contract signing, Hyundai E&C and Foster Wheeler began mutually working toward the successful completion of the Samcheok Green Power Project," said S.H. Seo, Deputy Chief Purchase Officer of Hyundai E&C. "We have no doubt that both companies can go on to expand our strong partnership starting with this environmentally friendly green power project."
Foster Wheeler contracted for four 550MW CFB Steam Generators in Korea
Source: Foster Wheeler