Fort Worth, TX-based electrical equipment manufacturer, AZZ incorporated AZZ, has been awarded a contract by Yunnan Huaneng Lancang River Hydropower Company for providing two circuits of 550kV-3150A for the Huangdeng Hydro Power Plant in Yunnan Province, China.
Yunnan Huaneng Lancang River Hydropower Company is a subsidiary of Huaneng Lancang River Hydropower Company. It engages in the construction of hydropower projects in China with a total installed capacity of more than 20 million kilowatts.
The two 550kV circuits are based on the Gas Insulated Line (“GIL”). Per the contract, AZZ incorporated will deliver 2,000 meters of GIL, a part of which will be installed in a vertical shaft of length 200 meter. The contract is estimated at $7.5 million. AZZ incorporated is expected to deliver the GIL in mid-2017.
China is experiencing notable development in small hydropower projects as the government is focusing on clean energy sources to supplement thermal power generation.This is the second contract for AZZ from China, the first one being the contract from China Nuclear Power Engineering Company for providing two circuits of 550kV-2000A for the Hongyanhe Nuclear Power Plant in Liaoning Province in China (read: AZZ Wins Contract from China Nuclear Power Engineering).
Since the company projects long-term growth on the back of domestic as well as international orders, it can also find a lucrative market in India where hydro power generation is projected to grow by 6.4% and nuclear power by 19.3%.
Last week, AZZ was awarded a contract by the Comision Federal de Electricidad (the Federal Electricity Commission or "CFE") to refurbish main steam isolation valves (MSIVs) and reactor recirculation cooling system valves at the Laguna Verde 1 and 2 Nuclear Power Plants in Mexico (read: AZZ Inc. to Provide Nuclear Valve Services for Laguna Verde).
Recently, AZZ released its second-quarter fiscal 2016 results. The company’s earnings in the quarter were 67 cents per share, missing the Zacks Consensus Estimate by 4.3%. At the end of the quarter, AZZ Inc.’s product backlog rose 2.7% to $338.1 million from the year-ago level of $329.1 million. Order booking was at $233.5 million.
The company has reiterated its revenue guidance for fiscal 2016 of $900 million to $940 million, which it expects to achieve on the back of strong global opportunities.
What’s Up at the Peers
ABB Ltd. ABB recently announced that it has introduced a new manufacturing facility for medium-voltage air-insulated switchgears in Tangerang, situated approximately 25 kilometers away from the Indonesian capital Jakarta. This initiative comes as part of the company’s $20-million investment plan for Indonesia (read: ABB Boosts Indonesian Power Supply with New AIS Facility).
Recently, Energous Corporation WATT, the developer of WattUp, a revolutionary wire-free charging technology for mobile devices that provides "over-the-air" power at a distance of up to 15 feet, announced the issuance of six utility and design patents for its award-winning wireless charging technology.
Eaton Corporation ETN has recently launched the new Digitrip RMS 210+ electronic trip unit integrated in an F-frame molded case circuit breaker. The Digitrip 210+ trip unit provides easy setup to ensure coordination and reliable protection for electrical systems in commercial, industrial and machinery manufacturing environments.
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