Foster Wheeler Awarded Contract for Biomass Boilers in Minnesota

Foster Wheeler Limited - 10.06.2005

Oct. 6, 2005--Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that a U.S. subsidiary in its Global Power Group has been awarded a contract by the Laurentian Energy Authority for design and supply of two biomass-fired grate boilers, each capable of producing 135,000 pounds per hour of steam. Laurentian Energy Authority is a joint venture between two local utilities: Hibbing Public Utilities in Hibbing, Minnesota, and Virginia Public Utilities in Virginia, Minnesota. The contract is valued at over $14 million, and will be included in the company's third-quarter bookings.

"Foster Wheeler remains committed to providing innovative, cost-effective and environmentally sound biomass-generated electricity solutions for our customers," said Bernard H. Cherry, chief executive officer, Foster Wheeler Global Power Group. "We previously supplied a stoker coal-fired boiler to the Hibbing Public Utility and this latest win continues the excellent working relationship between our companies. This, together with our extensive biomass-firing experience and our ability to design our units for unique fuel opportunities, was a key factor in our selection for this project."

The project is a repowering of two existing utility power plants, and will involve the addition of a new biomass boiler at each site, as well as associated fuel handling facilities for biomass, new emissions control equipment, and modifications to existing plant mechanical and electrical systems to accommodate the additional boiler equipment. The new boilers will fire biomass fuels, including fast-growing trees that are specifically grown to provide fuel for the new boilers in a revolutionary farming scheme. In a closed loop system that will generate no net carbon dioxide to the environment, the new units will generate steam for electricity generation and sale, and will also supply district heating steam.

 

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