Jun 3 2008
SPX Corporation today announced that its thermal equipment and services business has agreed to supply critical components worth approximately $100 million to Orkuveita Reykjavikur (OR), an Iceland utility. The announcement was made at a formal ceremony at the Hellisheidi geothermal power plant in Iceland on Friday, May 30, 2008.
"Our products will help create one of the most modern and efficient geothermal facilities in the world," said Drew Ladau, President of SPX Thermal Equipment and Services. "Iceland is a world leader in geothermal power generation and we're pleased to play a role in helping build their energy infrastructure."
The SPX components are slated for OR's five planned geothermal power plants to be built at the base of Hengill volcano in Iceland. Under the terms of the contract, SPX will supply a complete cold-end solution for the plants, which includes engineering, design, manufacturing, and installation of a steam condensing system utilizing multiple SPX heat exchangers.
The new geothermal power plants, which use hot steam from within the earth to produce electricity, are anticipated to begin operation in 2010-2011 and have a total output of 225 MW. "We are pleased to support OR in the expansion of their geothermal power generation," Ladau added. "With growing global pressure to increase generation from renewable sources, SPX is continuing its tradition of supplying optimized solutions for these severe duty applications."
SPX executives were present for the ceremony along with Iceland's President, Olafur Ragnar Grimsson and the German ambassador in Iceland, Dr. Karl-Ulrich Muller.
SPX Corporation is a Fortune 500 multi-industry manufacturing leader. The company offers highly-specialized engineered solutions to solve critical problems for customers.
SPX is focused on providing solutions that support the expansion of global infrastructure, with particular emphasis on the growing worldwide demand for energy and power. Its innovative product portfolio, containing many environmentally friendly products, includes cooling systems for power plants throughout the world; custom engineered process equipment that assists a variety of flow processes including food and beverage manufacturing, oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that regulate voltage for electrical transmission and distribution by utility companies.