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30-07-2013

Long-awaited Biomass Order Creates Growth Opportunities

BWSC, Danish power plant specialist, awarded GBP 94 million renewable energy plant contracts after four years of persistent efforts with Evermore Renewable Energy




After four years of intensive sales efforts, the Danish power plant specialist Burmeister & Wain Scandinavian Contractor A/S (BWSC) has landed a new power plant order worth approximately GBP 55 million to build a 15.8 MW biomass Combined Heat and Power (CHP) plant for the client Evermore Renewable Energy (ERE) on a full turnkey basis in Derry/Londonderry, Northern Ireland.
 
In addition to the construction of the plant, the order includes a 15-year operation and maintenance agreement worth approximately GBP 39 million.

"After four years of persistent efforts, we are proud to add yet another biomass project to our portfolio. Renewable energy is one of our high-priority business segments. This new project, alongside the giant order for a straw-fired biomass plant landed in December 2011, definitively demonstrates that the strategy for our renewable energy market leads to positive results," Anders Heine Jensen, CEO in BWSC, explains.
 
The new biomass plant will be fuelled by recycled wood and is expected to be handed over to ERE for start-up of commercial operation during summer 2015.
 
From Challenge to Progress
 
Securing the new biomass project confirms BWSC’s strong belief in a green future. But the Danish power plant specialist also acknowledges the complexities of developing and constructing large energy projects.
 
”Developing and constructing energy projects is a very complex process which involves local authorities, government agencies and many specialists from different professions. Technical skills, high levels of cooperation and trust and, not least, a lot of patience are crucial factors for our business to achieve a successful project implementation,” Anders Heine Jensen states, whilst highlighting that the conversion to green energy is a long-term process with many pitfalls.  
 
This also goes for the new biomass project. The identification of the right kind of fuel and amendments in the UK legal framework conditions for renewable energy are just some of the challenges, which BWSC, and other involved parties have been facing during the past four years.
 
Further, BWSC and ERE, both co-owners of the project, have been in contact with several potential investors, before a financial approval could be obtained. In this respect, EKF (Export Credit Agency) has played a decisive role through their participation on the debt side in terms of risk cover and funding. 
  
”We are pleased to be able to support BWSC on this project and thereby contribute to strengthening the export of Danish environmental technology within the biomass area. We believe that this is an industry with large potential, and where Danish companies are well-positioned” says Søren Møller, Deputy CEO in EKF.
 
Gaining on Export of Danish Power Plant Technology
 
The Evermore Project is one of the few large energy projects having succeeded in obtaining project financing in the wake of the financial crisis.
 
The new biomass project is the third contract awarded to BWSC since January 2013. In total, the three contracts have a contractual value of approximately EUR 375 million. 
 
”While the first half-year has been fantastic for BWSC, our new contracts have also had a positive effect on the Danish export of energy solutions. However, it is business as usual for us as we continue with the same determination and enthusiasm to keep focus on bringing more power plant projects to our order book. In order for a company like BWSC to be involved in such large, complex and long-term projects as the Evermore Project, it is important always to keep momentum going,” Anders Heine Jensen concludes.
 
Though BWSC primarily conducts its activities in foreign markets, the latest orders have resulted in an increase of 10% in the number of employees, over the past six months. BWSC further expects to employ approximately 20 people for the daily operation and maintenance of the Evermore CHP Plant.

Download fact sheet

Download press release in Danish


For further information:
Anders Heine Jensen, CEO
Tlf. +45 48 10 23 00
www.bwsc.dk

 



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