Pöyry signed EUR 46 million contracts for renewable energy projects in Philippines - value to be booked into order stock after financial closure
(Thomson Reuters ONE) -
PÖYRY PLC Company Announcement 24 March 2010 at 2.15 p.m.
Pöyry has been awarded EPC contracts for turnkey delivery of two renewable
energy power plants in the Philippines to the subsidiaries of Global Green Power
PLC Corporation, Philippines. Pöyry has also signed a Letter of Intent for a
potential third plant.
The value of the contracts now signed is about EUR 23 million for each of the
power plants. The contracts will become effective when the financial close for
each project has been achieved. The projects will be booked into the order stock
after the final closure, which will be communicated subsequently.
The contracts include the engineering, procurement and construction of two 17.5
MW multi-fuel biomass plants at two separate locations; Mina Iloilo and Nueva
Ecija in the Philippines with the third 35 MW plant in Bukidnon. The power
plants will use agricultural waste as fuel, deliver significant employment and
help address the power crisis currently being experienced in the Philippines.
The biomass power plants are to be built to strict environmental standards, in
accordance with the latest World Bank and International Finance Corporation
recommendations.
Pöyry has successful experience in conducting small to mid-size turnkey power
plant projects especially in the developing countries. Renewable energy is
increasingly becoming a choice when new power plants are planned. Contributing
to climate change mitigation with sustainable solutions for energy production is
in line with Pöyry's ambition for being a thought-leader in engineering balanced
sustainability.
PÖYRY PLC
Additional information by:
Richard Pinnock, Executive Vice President, Group Strategic Growth, Switzerland
Tel. +41 76 356 2410
Ari Asikainen, President, Energy Business Group, Finland
Tel. +358 10 33 24476
Esa Ikäheimonen, CFO, Pöyry PLC, Finland
Tel. +358 10 33 21586
Pöyry is a global consulting and engineering company dedicated to balanced
sustainability. We offer our clients integrated management consulting, total
solutions for complex projects and efficient, best-in-class design and
supervision. Our in-depth expertise extends to the fields of energy, industry,
urban & mobility and water & environment. Pöyry has 7000 experts operating in
about 50 countries, locally and globally. Pöyry's net sales in 2009 were EUR
674 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry
PLC: POY1V).
DISTRIBUTION:
NASDAQ OMX Helsinki
Major media
www.poyry.com
[HUG#1397128]
Unternehmensinformation / Kurzprofil:
Datum: 24.03.2010 - 13:16 Uhr
Sprache: Deutsch
News-ID 17984
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contact information:
Town:
Vantaa
Kategorie:
Business News
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