Foster Wheeler AG’s (FWLT) Global Power Group received a contract from Turun Seudun Energiantuotanto Oy (TSE), Finland. Foster Wheeler is entailed to design, supply and construct a retrofit-selective catalytic reduction (SCR.V) system for TSE’s Naantali unit 3. Financial details pertaining to the deal were not disclosed. The contract will be included in Foster Wheeler’s second-quarter bookings while the commercial operations of the SCR system is expected to commence in Oct 2015.
Per the contract, Foster Wheeler will plan, supply, construct and commission the selective catalytic NOx reduction system for the Naantali 125 MWe pulverized coal fired boiler (unit 3). The supplies will include a new SCR reactor with catalyst and steel structures, ammonia water storing and feeding system, flue gas ducts and new ID-fans.
The need for a new selective catalytic NOx reduction system arises from the implementation of a new emission directive aimed at controlling air pollution. Though power generation through coal has significant economic benefits, it involves environmental hazards. However, with the help of Foster Wheeler’s environmental technology, TSE will be able to successfully comply with the latest environmental regulations.
Foster Wheeler has made a name for itself when it comes to spearheading innovation in environmental technology across Europe, thanks to the acquisition of Siemens Environmental by the company in Mar 2014. Through the takeover, Foster Wheeler has gained the core competence in providing comprehensive solutions for clean air technologies including desulfurization solutions for both wet and dry flue gas (FGD), particulate control solutions for fabric filters and electrostatic precipitators, controlling acid gas and mercury as well as solutions for NOx reduction and combustion optimization systems.
Air pollution control and industrial ventilation products command a multi-billion dollar market, which is still witnessing rapid growth. The rising demand for clean air and water as well as an environment free of industrial pollutants are the primary factors behind this booming industry.
Foster Wheeler currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the sector worth considering at the moment include Willdan Group Inc. (WLDN) and Enersys Inc. (ENS) and AO Smith Corp (AOS). Willdan and Enersys sport a Zacks Rank #1 (Strong Buy) while A O Smith has a Zacks Rank #2 (Buy).