Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Power Group has received a full notice to proceed (FNTP) by GS Engineering and Construction for the design and supply of a circulating fluidized-bed (CFB) steam generator for the Green Energy Centre BTO (Build, Transfer, Operate) Project. The owner and developer of the project is Daegu Metropolitan City, South Korea.
The terms of the agreement were not disclosed, and the value of the FNTP will be included in the company’s third-quarter 2013 bookings. Commercial operation of the new steam generator is scheduled to begin by mid-2016.
Foster Wheeler will design and supply one CFB steam generator for the project. The CFB steam generator will be designed to burn 380 tons/day of refuse derived fuel (RDF) while meeting applicable environmental regulatory requirements.
“Foster Wheeler has unmatched technical depth and experience in designing CFB units to burn a wide variety of fuels efficiently and cleanly,” said Gary Nedelka, Chief Executive Officer of Foster Wheeler Global Power Group. “RDF is popular among clients and communities who want to find a productive use for what would otherwise be a waste stream. RDF is a challenging fuel for conventional combustion systems, but our CFB technology provides an ideal solution for this material. This was one of the determining factors in our client’s selection of Foster Wheeler for the Green Energy Centre Project.”
Foster Wheeler AG is a global engineering and construction company 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, minerals 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 Reading, United Kingdom.