Wärtsilä NSD and Fortum Engineering have concluded a co-operation agreement on development of energy solutions based on natural gas for the Central European markets. The essence of the agreement concerns development of a new power plant concept which will form the core of a new total cogeneration (combined heat and power) application.
The use of natural gas coupled with the high power plant efficiency achievable using the principle of cogeneration will result in an environmentally advantageous energy generation process.
The co-operation between Wärtsilä NSD and Fortum Engineering will comprise the development, marketing, sales, construction, financing, and operation and maintenance of the power plants. Fortum Engineering will design the power plant concept and also be responsible for power plant delivery. Wärtsilä NSD will design and supply the gas engines.
This co-operation agreement strengthens the position of both companies in Central Europe. Fortum Engineering is wellestablished in this market as a supplier of power plants and environmentally sound technologies. Wärtsilä NSD is a leading global manufacturer of gas engines. Pooling the complementary strengths of the two companies will make it easier to increase their business volume in the region.
The co-operation agreement does not include any form of cross-ownership.