Wärtsilä-led consortium to supply 573 MW power plant to Jordan - value of Wärtsilä’s order USD 334 million

Wärtsilä Corporation
  • Stock exchange release
10 October 2012 at 3:30 PM E. Europe Standard Time

A Wärtsilä-led consortium, consisting of Wärtsilä and Lotte Engineering & Construction of South Korea, has signed a contract with Amman Asia Electric Power Company to supply a 573 MW power plant to Jordan. The total value of the EPC (Engineering, Procurement, Construction) contract is USD 552 million, of which Wärtsilä’s share is USD 334 million. The order is included in Wärtsilä’s third quarter 2012 order book.

The signing of the Power Purchase Agreement (PPA) between National Electric Power Company of Jordan (NEPCO) and Amman Asia Electric Power Company was announced on 25 September 2012. Amman Asia Electric Power is owned by Korea Electric Power Corporation, Mitsubishi Corporation and Wärtsilä Corporation. When completed, the power plant will supply electricity to NEPCO to be fed to the country’s national grid.

In September 2012, Amman Asia Electric Power signed a 25 year power purchase agreement with NEPCO.

In January 2012, Wärtsilä announced that a bid consortium consisting of Korea Electric Power Corporation, Mitsubishi Corporation and Wärtsilä Corporation, had been selected by National Electric Power Company of Jordan to build IPP3, an independent power producer project in Jordan.

More information is available in a general press release.

For further information, please contact:

Vesa Riihimäki
Group Vice President, Power Plants
Wärtsilä Corporation
Tel: +358 10 7095232

Atte Palomäki
Group Vice President, Communications & Branding
Wärtsilä Corporation
Tel: +358 40 547 6390

Wärtsilä in brief
Wärtsilä is a global leader in complete lifecycle power solutions for the marine and energy markets. By emphasizing technological innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2011, Wärtsilä’s net sales totaled EUR 4.2 billion with approximately 18,000 employees. The company has operations in nearly 170 locations in 70 countries around the world. Wärtsilä is listed on the NASDAQ OMX Helsinki, Finland.