Vaasa, Finland [RenewableEnergyWorld.com] A joint venture combining Metso Corporation’s Heat & Power business and Wärtsilä’s Biopower business has been announced by the two Finnish companies. Aiming to become one of Europe’s leading providers of medium and small-scale combined heat and power (CHP) plants and focusing on renewable fuels, the joint venture will combine Metso’s fluidized bed combustion boiler technologies with Wärtsilä’s biograte combustion systems for power plants.
The companies said that thier technologies are complementary and will allow the joint venture to offer solutions for a wide range of renewable fuels in power plants. Metso will own 60% and Wärtsilä the remaining 40% of the joint venture. It is estimated that for the rest of Fiscal Year 2008 the net sales of the joint venture could be approximately €130 million [US $176.74 million].
“The general market outlook for the energy industry and especially for renewable energy production is promising. With Metso and Wärtsilä now joining forces, we will have enhanced capabilities to build and develop new technologies and solutions,” said Lennart Ohlsson, president of Metso Power.