Another Contract for ABB

Zacks Equity Research
March 19, 2013

ABB Ltd. (ABB) has been awarded a new contract by Italian power company Enel, to provide an automation and control system, Symphony® Plus, for use at its Grazia Deledda Sulcis power plant on the island of Sardinia. The value of the contract remained undisclosed.

The coal-fired power plant, Grazia Deledda Sulcis, comprises two units with a generating capacity of over 240 MW. The plant is expected to undergo major changes in the control systems, in order to function in a more efficient way. The Symphony® Plus system will help improve the efficiency along with minimizing environmental impacts of the plant. 

Italy overly depends on the supply of natural gas to generate electricity. With the rise in demand, there will be greater need for electricity. Therefore, the government is seeking alternative sources like coal, to augment electricity generation. Since the Grazia plant is situated strategically in the Sulcis Iglesiente basin, Italy’s sole coal reserves, it will be able to reap benefits from the potentially higher demand for coal generated electricity.

The new Symphony Plus is equipped with a few new and enhanced features such as burner management and flue gas desulfurization systems, a new control room and operating stations. These additional features will render the operations of the plant smooth and easier. The system is mainly designed for the power and water sectors to increase the efficiency and reliability of the plants.

Based in Zurich, Switzerland, ABB Ltd. is a power and automation technology company and currently carries a Zacks Rank #3 (Hold). Some of the other industrial equipment stocks, which are worth considering are Franklin Electric Co. Inc. (FELE), Capstone Turbine Corp. (CPST) and Emerson Electric Co. (EMR); each of these carries a Zacks Rank #2 (Buy).

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