STX Finland, STX Windpower Collaborate on Windpark Supply

(Press Release)
Monday, August 15, 2011

STX Finland and STX Windpower are  starting a joint collaboration on turnkey windpark supply in Northern Europe, focusing on offshore sites in the Northern Baltic Sea region and onshore sites in Finland, Sweden and the Baltic states.
A Letter of Intent was recently signed by both companies stating that STX Windpower B.V. supplies direct drive turbines and STX Finland completes the project on an EPCI basis. In addition to turnkey windpark supply, the joint offering also includes complete lifecycle support, including operations, maintenance, spare parts supply, retrofits, refurbishments and decommissioning.
The collaboration also looks to widen the scope of the STX Group into wind project development enabling STX to provide a ‘from cradle to grave’ solution for investors that are looking to maintain a stake in a project. STX intends to do this by looking for sites that are applicable to the IEC Classification of their turbines and then developing the project from a green field stage to electricity production and to possible continued operation of the project for its lifetime.
Given the nature of expertise of STX Finland and its subsidiaries (in arctic offshore design and construction) and STX Windpower (in on- and offshore direct drive turbines), the signing of this Letter of Intent is seen as a precursor for the launch of an arctic offshore solution package. This offering will be unique in the wind power business because it provides customers with deep expertise in all the essential phases of such projects. The parties also expect that other companies will join the collaboration.
As a pilot project for joint work, STX Finland is considering the installation of two units of the novel STX 93 2MW direct drive wind turbine at the Rauma shipyard to showcase the service that can be provided through the collaboration. Provided necessary permits, local authority and public support are achieved, this pilot project could be realized within 2012 with the final commissioning of the turbines by the end of 2012.
“The Rauma shipyard area has solid wind conditions, and this is a good opportunity for us to take part in and start up the development of environmentally friendly energy technology and solutions that use existing wind resources. Offshore technology in shipbuilding and windparks share many of the same critical requirements, and we look forward to participate in this collaboration”, says Timo Suistio, EVP & COO of STX Finland Oy and Director of the STX Rauma Shipyard.
“At STX we have been committed to renewable energy for many years. This collaboration will make it possible for us to aid in offshore windpark development also in the very special environment that the Northern Baltic Sea offers”, adds Sujou Kim, CEO STX Finland, and continues: “We will continue to strengthen our offering in this area by adding further partners into this network, with the aim of finding the most cost effective solution for arctic offshore windpark installation, operations, and maintenance. This is crucial in order to make arctic offshore wind reality, and a key to our customers’ success.”

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