Wärtsilä leading along the path towards a 100% renewable energy future
Wärtsilä Corporation, Press release, 14 June 2018 at 10.00 am EET
The technology group Wärtsilä is leading the way to the power industry’s transformation towards a future that utilises 100 percent renewable energy. In announcing its vision for the energy market, Wärtsilä is making a call to action since the technologies required to achieve this vision are already available. The energy sector is changing for all stakeholders, and Wärtsilä is harnessing its extensive capabilities to lead that change.
Central to maintaining a sustainable and profitable future for the industry is the need to maximise renewable generation, which is made possible by generating assets having the necessary flexibility. In the 100% renewables world, the majority of the energy produced will be from solar and wind power. The required operational flexibility will be provided by flexible gas assets using synthetic renewable fuels, by the extended use of energy storage technology, and by optimising the lifecycle of the existing installations.
As an energy system integrator, Wärtsilä understands the role of different technologies within future power systems. By combining the various assets, optimal paths towards a future with 100 percent renewables can be created. Already today, renewables – solar and wind in particular, constitute a major share of the total power generated in a number of markets, thus driving the paradigm change in the power market. As the levels of affordable renewable energy continue to replace the existing inflexible power generating capacity, a growing market for flexible generation and energy storage solutions is being created. Wärtsilä provides lifecycle services and solutions to support its customers in the energy transition.
“Obviously the speed of change differs between the markets, but the general pace is becoming faster and faster. However, we have already reached the first milestone along the route to our vision becoming reality now that renewables are already competitive without subsidies in many regions. The next milestone will be when renewables start to replace existing inflexible thermal capacity across the globe. This will be the ultimate tipping point and, supported by reduced energy storage costs, will enable renewables to become the new baseload,” explained Javier Cavada, President, Wärtsilä Energy Solutions.
Wärtsilä is committed to enabling sustainable societies with smart technologies, and is positioned at the core of future energy systems. The company’s flexible power generation solutions provide the required operational flexibility today, and will be a key element within the 100% renewable power system future. Wärtsilä’s engine solutions already have the capability to run on various gas and liquid fuels, and Wärtsilä is looking for opportunities to develop engines for synthetic biofuels, as well as traditional biofuels.
“Existing inflexible thermal capacity is currently slowing down the transition to renewable energy generation in many places. We at Wärtsilä are helping our customers, through sophisticated power system modelling, to understand the opportunities provided by affordable renewable energy, and the implications it has on their power systems. Investments in affordable renewable energy, together with flexibility will be the winning global portfolio for our customers,” noted Matti Rautkivi, Director, Sales & Marketing, Wärtsilä Energy Solutions.
“Wärtsilä’s extensive portfolio, which includes engine power plants, LNG solutions, renewables, energy storage and integration, lifecycle optimisation, and new technologies such as power to gas, is built around the need to provide customers with the flexibility and reliability essential in this changing energy world. We are able to support our customers throughout their asset lifecycle by improving their efficiency and even contributing to new business models. We offer long-term service agreements with performance guarantees to meet our customers´ business targets,” added Pierpaolo Barbone, President and EVP, Wärtsilä Services.
Wärtsilä Energy Solutions in brief
Wärtsilä Energy Solutions is a leading global energy system integrator offering a broad range of environmentally sound solutions. Our offering includes ultra-flexible internal combustion engine based power plants, utility-scale solar PV power plants, energy storage & integration solutions, as well as LNG terminals and distribution systems. The flexible and efficient Wärtsilä solutions provide customers with superior value and enable a transition to a more sustainable and modern energy system. At the end of 2017, Wärtsilä had 67 GW of installed power plant capacity in 177 countries around the world. www.smartpowergeneration.com
Wärtsilä in brief
Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2017, Wärtsilä’s net sales totalled EUR 4.9 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 80 countries around the world. Wärtsilä is listed on Nasdaq Helsinki. www.wartsila.com