IST Canada sells 100th unit to Turkey's Nar Enerji
TORONTO, July 12 /CNW/ - Aecon Group Inc. (TSX: ARE) today announced its wholly owned subsidiary Innovative Steam Technologies (IST) was awarded a contract to supply its 100th once through steam generator (OTSG) to Nar Enerji in Cerkezkoy, Turkey. The OTSG for Nar Enerji is expected to be delivered on an accelerated schedule of six months and is valued at approximately $3 million.
IST will design and manufacture a single-pressure OTSG that will recover heat from a 45 megawatt gas turbine. OTSGs recover waste exhaust heat from gas turbines that produce steam; the steam is then injected into steam turbines to generate electricity. Without the OTSG, exhaust gas would be emitted into the atmosphere as unused energy.
OTSG technology improves the efficiency of its customers' power plants and is better for the environment compared to many power generation sources. The OTSGs are commonly used in two types of power plants known as combined- cycle or co-generation power plants.
"The 100th OTSG sale is an important milestone for IST and Aecon. This sale represents our ever-expanding customer base and reinforces our belief that we have an industry-leading product that significantly improves customer plant efficiency and that is good for the environment," said Paul P. Koenderman, Executive Vice President, Aecon Group Inc. and CEO Aecon Industrial Group.
"We have units installed in 13 countries across 5 continents in our
13-year history" said Bob Dautovich, President of IST. "In this time we have contributed to the production of over 5100 megawatts of electricity at combined-cycle and co-generation thermal plants around the globe, helping us become a world renowned expert in once through steam generation."
Aecon Group Inc. is Canada's largest publicly traded construction and infrastructure development company. Aecon and its subsidiaries provide services to private and public sector clients throughout Canada and internationally.