Wärtsilä Corporation Annual report 2014

Power Plants review

Wärtsilä Power Plants provides superior value to its customers by offering decentralised, flexible, efficient, and environmentally advanced energy solutions. We offer dependable power plants that can be constructed in multiple parallel generation units, and on a fast track basis.

An offering based on flexibility

We offer our customers Smart Power Generation power plants for baseload generation, peaking and load following operation, as well as dynamic system balancing and ultra-fast grid reserve, with solutions ranging from equipment only deliveries to full turnkey power plants. Our tried and tested power plants are modularised so as to enable them to be located close to the end-user customers. This also allows construction to be carried out in phases according to the customer's needs. The fuel flexibility of our solutions supports the transition from oil to gas as the markets increasingly embrace natural gas. Through operation and maintenance agreements we support our customers throughout the lifecycle of their installations. While we operate mainly in the emerging markets, there is, however, demand for our power plant projects also in the developed markets.

In the LNG business, we offer complete end-to-end LNG distribution infrastructures, including small and medium sized LNG terminals and liquefaction and regasification technology. An LNG terminal can be integrated with a Smart Power Generation power plant to form a joint and efficient turnkey solution.

Our power business is divided into three segments

Our three main customer segments are: Utilities, Independent Power Producers (IPP’s) and Industrial customers. Utilities supply electricity to residential, commercial and industrial end users, whereas IPP’s are financial investors investing in power plants and selling the generated power to utilities. Customer needs in these segments vary according to the application for which the plant is used. In traditional baseload power generation, customers require competitive lifecycle costs, reliability, world-class product quality, and fuel and operational flexibility. In balancing and peaking applications, customer needs typically include rapid start and ramp up, the ability to operate at varying loads, as well as competitive electricity generation and capacity costs. Industrial customers are mainly private companies in, for instance, the mining, cement and oil & gas industries, investing in captive power plants. Reliability, reduced energy costs, and independence from the grid are among the key factors in their decision-making.

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