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Siemens wins US$800m Ohio gas power plant order

Thursday, April 7, 2016 - 07:08

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German industrial group Siemens has won an order worth more than US$800 million to supply a gas-fired power plant for Lordstown, Ohio, it said on Wednesday.

[FRANKFURT] German industrial group Siemens has won an order worth more than US$800 million to supply a gas-fired power plant for Lordstown, Ohio, it said on Wednesday.

The electricity generated by the 940 megawatt plant will power 800,000 households, helping to replace energy from coal-fired plants that are shutting down.

The order for two state-of-the-art H-class gas turbines, one steam turbine and three generators is important for Siemens, which is hungry for orders outside Europe amid dwindling demand at home, where renewable energy is displacing fossil fuels.

Siemens has sold 78 H-class gas turbines worldwide to date.

sentifi.com

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Siemens Financial Services is putting up 28 per cent of the equity investment with Macquarie providing the rest, it said. The size of the total investment was not disclosed.

Macquarie said a consortium of banks led by Industrial & Commercial Bank of China, Credit Agricole, Bank of America Merrill Lynch and Investec would provide US$445 million term debt to fund the construction.

REUTERS

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