Two contracts worth approximately €120 million.
Alstom has signed two contracts totaling around €120 million1 with PSP Investment Ltd for the supply of two 150 MW pump-turbines with the associated balance of plant equipment and Alstom’s Distributed Control System (DCS) for the 300 MW Gilboa pumped storage power plant in Israel. Alstom also signed an eighteen-year operation & maintenance (O&M) agreement, covering day-to-day operation and maintenance of the power plant. The project represents Alstom’s first entry into the Israeli hydro market and will be the country’s first pumped storage power station, Alstom already has a proven track record in the Israeli power generation market with respect to existing steam plants and gas plants.
The power plant, located 60 km east of Haifa, will be commissioned in 2018, and will increase the country’s installed power generation capacity by 2.5%. It will contribute to increasing the reliability of electricity supply and will provide an important tool to control the demand and distribution of electricity.
During off-peak hours, pumped storage uses the energy from other power stations to transfer water to a high storage reservoir. The stored water will later be reused to generate electricity to cover temporary peaks. This helps lower the overall operation cost of power production and levels the fluctuating output of intermittent power sources.
“This contract demonstrates Alstom’s commitment to supporting the Israeli energy market, providing solutions for renewable and clean energy sources. This order further reinforces Alstom’s leading position on hydro pumped storage power market, and our capability to propose to our customers a complete offer from equipment to services” said Jérôme Pécresse, President of Alstom Renewable Power.
Pumped storage is the most widespread energy storage system in use on power networks, and today there is over 127 GW of pumped storage in operation around the world.
Alstom has been providing pump turbines for over 50 years and has supplied 140 units to date, which represents a market share of more than 30 % and positions Alstom as the leader in this area.
1The contract was booked in Q3 of current fiscal year
Alstom is a global leader in the world of power generation, power transmission and rail infrastructure and sets the benchmark for innovative and environmentally friendly technologies. Alstom builds the fastest train and the highest capacity automated metro in the world, provides turnkey integrated power plant solutions and associated services for a wide variety of energy sources, including hydro, nuclear, gas, coal and wind, and it offers a wide range of solutions for power transmission, with a focus on smart grids. The Group employs 93,000 people in around 100 countries. It had sales of over €20 billion and booked close to €24 billion in orders in 2012/13.