Sterling and Wilson Cogen Solutions enters into JV with Professional Power Products in North America
Sterling and Wilson Pvt. Ltd. a world leader in the Turnkey MEP services and engineering, procurement and construction of distributed energy systems, has partnered with Professional Power Products (3PI) a wholly owned subsidiary of Power Solutions International, Inc. (PSI) (Nasdaq: PSIX), through a new venture, Sterling and Wilson Cogen Solutions, LLC (SWCS). The new company has been formed to pursue the rapidly expanding North American cogeneration/combined heat and power (CHP) market.
SWCS will initially open offices in Chicago, Philadelphia and New York, with plans to expand into other regions as the market continues to grow.
“Sterling and Wilson has been following the growth of the North American cogeneration market for the last several years,” said Rajesh Shah, President of Sterling and Wilson Co-gen Solutions Pvt. Ltd. “S&W has analyzed the market through our internal strategy group and through major global consulting companies, and these studies show the market is positioned for massive expansion. We’ve had all the resources necessary to capture a large segment of this 40-gigawatt market—except for a U.S. company with the necessary products and services that shared our vision. After an extensive search, we have found a partner to support that growth in PSI and its subsidiary 3PI.”
SWCS’s goal is to become the dominant player in the small to mid-sized cogeneration market (under 20MW) by providing companies with the customized products and services they desire. Through the combined capabilities of S&W, 3PI and PSI, SWCS will supply development, engineering, product, construction, service and financing of CHP systems, making it the only company in the market that can internally control all aspects of such projects.“We are extremely excited to be selected by an industry leader like S&W to be its partner and supplier of engines and packaging services,” said Gary Winemaster, PSI’s Chairman and Chief Executive Officer. “S&W’s entry into this market validates our vision for the expansion of our power generation engine products and the growth of 3PI.”
Sterling and Wilson Cogen Solutions is already pursuing several CHP projects and will be certifying cogeneration systems in both state and Department of Energy programs.