Estimated read time: 3-4 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
[STK]
[IN] OIL UTI EUT
[SU] LIC
TO BUSINESS, AND ENERGY EDITORS:
Wood Group GTS awarded $12M operations & maintenance contract by Apex
Bethel Energy Center
ALPHARETTA, Ga., April 24, 2014 /PRNewswire/ -- Wood Group GTS and
Apex Bethel Energy Center, LLC ("Apex") have signed a three-year
operations & maintenance (O&M) agreement for the Bethel Energy Center.
Under the $12 million contract, Wood Group GTS will be responsible for
care, custody and control of the facility when it begins commercial
operation in 2017. Construction is soon to begin for the plant in East
Texas, which will utilize compressed air energy storage ("CAES")
technology.
"We needed an O&M partner willing to work with us during the
development stage of the project. In Wood Group, we found a highly
experienced O&M service provider with an excellent reputation in the
industry and is well respected by investors," said Jack Farley, CEO of
Apex. "Their customer-focused technical and commercial engagement
made the negotiation of the service agreement very productive. Also,
their ability to work within a tight schedule along with the OEM,
which has minority interest in the facility, was critical to meeting
our schedule."
"As the O&M partner for APEX we are able to minimize technical and
commercial risks, while incorporating a transparent and flexible
contracting structure," said Frank Avery, president of Wood Group GTS
- Power Plant Services. "Our customer-focused programs, practices and
procedures apply to facilities with all OEM turbine technologies and
platforms, and have been honed from a solid foundation of operating
experience and continuous improvement. With a risk-based approach to
plant performance and availability, regulatory compliance
requirements, and financial performance, we can stay aligned with our
customer's goals and objectives."
O&M is a part of the overall products and services offered by Wood
Group GTS, and are designed to maximize the return on our customers'
investments in rotating equipment technologies.
Note to Editors Wood Group GTS is a leading independent provider of
rotating equipment services and solutions for clients in the power and
oil & gas markets. Worldwide, these services include power plant
engineering, procurement and construction; facility operations &
maintenance; repair & overhaul, optimisation and upgrades of gas and
steam turbines, pumps, compressors and other high-speed rotating
equipment. www.woodgroupgts.com
Wood Group is an international energy services company with around
$7bn sales, employing around 46,000 people worldwide and operating in
50 countries. The Group has three businesses - Wood Group
Engineering, Wood Group PSN and Wood Group GTS - providing a range of
engineering, production support, maintenance management and industrial
gas turbine overhaul, repair services to the oil & gas and power
generation industries worldwide. www.woodgroup.com
Apex Bethel Energy Center, LLC is a Houston-based company with a
vision to develop, construct, own and operate compressed air energy
storage (CAES) plants. CAES is a proven power storage and generation
technology with unique capabilities to satisfy growing grid and power
market needs.
Compressed air energy storage (CAES) is a way to store energy
generated at one time for use at another time. At utility scale,
energy generated during periods of low energy demand (off-peak) can be
released to meet higher demand (peak load) periods.
SOURCE Wood Group GTS
-0- 04/24/2014
/CONTACT: Carolyn Smith, Corporate Communications - Eastern Hemisphere, Wood Group, Tel: +44 (0) 1224 851099, email: carolyn.smith@woodgroup.com, Bobbie Ireland, Corporate Communications - Americas, Wood Group, Tel: +1 (281) 828 3505, email: bobbie.ireland@woodgroup.com
/Web Site: http://www.woodgroupgts.com
CO: Wood Group GTS
ST: Georgia
IN: OIL UTI EUT
SU: LIC
PRN
-- DA11076 --
0000 04/24/2014 06:00:00 EDT http://www.prnewswire.com
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
