Global technology company Siemens has received a contract to deliver a power island for the new Yerevan 2 combined cycle power plant (CCPP) in Armenia.
Siemens’ complete power island includes an SGT5-2000E gas turbine, an SST-600 steam turbine, two SGen-100A generators, heat recovery steam generator and SPPA-T3000 control system. The company will also operate and maintain the plant for a period of 20 years.
Siemens will be responsible to provide power diagnostic services, the remote expert center support, and assist remote operation. The contract represents the largest single order ever received by Siemens from Armenia.
The CCPP will be built by Italian engineering, procurement, and construction (EPC) company Renco with a special-purpose project company, ArmPower, specifically established for this project.
Siemens Financial Services (SFS) holds a 40% stake in ArmPower and the remaining 60% is held by Renco along with the Italian equity firm Simest.
Renco CEO Giovanni Rubini said: “The key in making this project a reality is the perfect fit for Renco’s and Siemens’ capabilities. Both companies complement each other perfectly.
“Renco is well-established in Armenia and is active in the real estate business and the civil and private construction business and will act as an investor and EPC contractor, whereas Siemens is contributing as the technology provider under the EPC contract and as the service provider to the project company ArmPower.”
With an electrical capacity of 250MW, Yerevan 2 combined cycle power plant is expected to commence its operations by mid-2021.
Siemens Gas and Power Power Generation Europe and CIS head Olaf Kreyenberg said: “Yerevan 2 will be the first project-financed fossil power plant project in Armenia to produce environmentally friendly electricity at an ultra-low cost.
“Lower energy costs will help spur growth in Armenia. Under the 20-year service agreement, Siemens will ensure that the plant continues to produce electricity economically and reliably over the long-term.”