Demand for electricity and global shift to renewables to drive growth. Wartsila India Pvt. Ltd., the Indian arm of Finnish €4.8 billion Wartsila Corporation, is scouting for joint venture partners and is in talks with at least 10 firms to build LNG terminals, develop mid-size power plants and renewable energy projects as an EPC contractor. “We are discussing with 10 firms to build LNG terminals and power plants as EPC contractor for the Indian marine and energy markets,” said Kimmo Kohtamaki, president and managing director, Wartsila India. “Some of them might materialise soon.” Kari Hietanen, chairman, Wartsila India said the overall demand for Wartsila’s services and solutions in 2017 was expected to be relatively unchanged and they were focused on maintaining a single digit growth in India.
“We are strongly committed to India. We see a lot of opportunities in India. During 2017, we will focus on three sectors – services, energy and marine solutions,” he said. A growth in electricity demand in the emerging markets and the global shift towards renewable energy sources will support the need for distributed, flexible and gas-fired power generation. The pricing environment in energy solutions market has stabilised, but the order book is till impacted by the competitive pressure seen in previous years, he said. “Although the outlook for the cruise and ferry segment is positive, the merchant, gas carrier and offshore segments continue to suffer from overcapacity, slow trade growth and customers’ financial constraints. Wartsila will continue to focus on improving efficiency, which is expected to partially offset lower volumes in the marine market,” Mr. Hietanen said.
Wartsila, a leading solutions provider of rapid and flexible power plants for utilities, industry and IPPs, has delivered over 250 power plants in India with total output of over 3,800 MW. It operates and manages over 35 power plants on behalf of its customers, with a total output of over 1,300 MW in India. Last year, Wartsila established a Remote Monitoring Centre in Chennai to monitor power plants on a real-time basis. Currently, it monitors 14 installations located in India, Bangladesh, Thailand and Australia totalling to more than 600 MW. Over the next two-three months, it will start monitoring installations in Japan.