Wärtsilä Corporation, Stock exchange release, 21 April 2016 at 8:45 am EET
Wärtsilä enters solar energy business
Wärtsilä is entering the solar energy business by offering utility-scale solar photo-voltaic (PV) solutions. The new solutions include solar PV power plants of 10 MW and above, and hybrid power plants comprising solar PV plants and internal combustion engines. Both solutions are offered with full engineering, procurement and construction (EPC) delivery. Wärtsilä's first solar project will be built in Jordan.
"We are excited to expand our portfolio with new sustainable innovations and help our customers reduce their carbon emissions. Large-scale solar is a big business, with the installed base expected to grow four-fold to 450 GW by 2025. Our competitive edge builds on three things: global EPC capability, a wide sales and service network, and an existing customer base in 176 countries," says Javier Cavada, President of Wärtsilä Energy Solutions.
Wärtsilä expects rapid growth in solar business, resulting in annual sales of 300 million euros in 2020. Target customers for Wärtsilä's solar solutions are utilities, independent power producers (IPPs) and industrial customers. The focus areas include Africa, the Middle-East, Latin America and South East Asia. Wärtsilä will acquire the solar PV modules for the EPC projects from leading module suppliers.
Wärtsilä is the first company to offer utility-scale solar hybrid plants. The hybrid solution couples a solar PV park with an ultra-flexible Wärtsilä Smart Power Generation power plant. The two units operate in synchronisation to reduce the engines' fuel consumption.
Wärtsilä's first solar project is a retrofit hybrid plant in Jordan. It combines a solar PV farm with IPP4, a 250 MW Smart Power Generation plant comprising sixteen Wärtsilä 50DF engines, delivered to AES Jordan in 2014. Wärtsilä's EPC scope includes 46 MW of solar modules, covering an area of 81 hectares, as well as inverters, switchgear, control systems and overhead transmission lines. The project will be included in Wärtsilä's order book in the fourth quarter of 2016.
"The solar unit will reduce the carbon footprint of the power plant by saving fuel during the daytime. Experience has shown we can trust Wärtsilä's EPC capability. We consider Wärtsilä to be a partner with a reputation for quality," says Meftaur Rahman, President and CEO of AES Jordan.
Wärtsilä's installed power plant base is 60 GW in 176 countries.
Read more here:
Wärtsilä Solar Solutions
Caption: Wärtsilä's first solar project in Jordan combines an existing 250 Smart Power Generation engine power plant and a 46 MW solar PV plant. The idea of the solar hybrid solution is to save fuel at daylight hours.
More images are available in our image bank at http://imagebank.wartsila.com/Imagebank/ (search word 'solar').
For further information please contact:
Javier Cavada Camino
President, Energy Solutions
Tel. +358 10 709 5297
Executive Vice President, Communications & Branding
Tel. +358 10 709 5599
For investor information, please contact:
Director, Investor and Media Relations
Tel: +358 10 709 5637
Wärtsilä Energy Solutions in brief
Wärtsilä Energy Solutions is a leading global supplier of ultra-flexible power plants of up to 600 MW operating on various gaseous and liquid fuels. Our portfolio includes unique solutions for baseload, peaking, reserve and load-following power generation, as well as for balancing intermittent renewable energy. Wärtsilä Energy Solutions also provides LNG terminals and distribution systems. As of 2016, Wärtsilä has 60 GW of installed power plant capacity in 176 countries around the world.
Wärtsilä in brief:
Wärtsilä is a global leader in complete lifecycle power solutions for the marine and energy markets. By emphasising technological innovation and total efficiency, Wärtsilä maximizes the environmental and economic performance of the vessels and power plants of its customers. In 2015, Wärtsilä's net sales totalled EUR 5.0 billion with approximately 18,900 employees. The company has operations in more than 200 locations in nearly 70 countries around the world. Wärtsilä is listed on the Nasdaq Helsinki.