Wärtsilä affiliate signs long-term power purchase agreement with Jordan's NEPCO

Wärtsilä Corporation, Stock exchange release 25 September 2012 at 13:15 UTC+2

Amman Asia Electric Power Co., a special purpose company owned by Korea Electric Power Corporation, Mitsubishi Corporation and Wärtsilä Corporation, has signed a power purchase agreement with National Electric Power Company of Jordan (NEPCO). According to the 25-year agreement, NEPCO will buy electricity from Amman Asia Electric Power to be fed to the national grid of Jordan.

Amman Asia Electric Power intends to shortly sign an engineering, procurement and construction (EPC) contract with a separate consortium, consisting of two companies, Wärtsilä and Lotte Engineering & Construction of South Korea. The Wärtsilä led EPC consortium is expected to build an approximately 600 MW independent power producer plant in Jordan. A separate announcement will be made once the EPC contract is signed.

This follows the announcement by Wärtsilä  on 31 January 2012 that a consortium consisting of Korea Electric Power Corporation, Mitsubishi Corporation and Wärtsilä Corporation, had been selected by National Electric Power Company of Jordan (NEPCO) to build IPP3, an independent power producer project in Jordan.

For further information, please contact:
Vesa Riihimäki
Group Vice President, Power Plants
Wärtsilä Corporation
Tel: +358 40 504 5929

Markus Pietikäinen
Vice President, Group Treasury & Financial services
Wärtsilä Corporation
Tel: +358 40 525 3024

Wärtsilä in brief
Wärtsilä is a global leader in complete lifecycle power solutions for the marine and energy markets. By emphasising 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 totalled 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.