(MENAFN- ProactiveInvestors - Australia) Wasabi Energy (ASX: WAS, AIM: WAS) has signed an engineering, procurement and construction agreement with Chinese energy giant Sinopec for a 4 megawatt Kalina Cycle power plant.
The contract, which was reached by Wasabi subsidiary and Kalina Cycle® licensee Shanghai Shenghe New Energy Resources Science and Technology and is worth more than US$10 million and is expected to be completed by the end of 2013.
Wasabi noted the conversion of this project to an EPC contract from the design and technical services contract announced in August 2012 marks the first large scale Kalina Cycle power plant to be built in China and in a Chinese petrochemical refinery.
The Kalina Cycle® power plant will take low temperature hot water from the paraxylene process in the 600,000 tons per year polyester materials plant and turn it into up to 4MW of usable emission free power.
Notably, the system fulfils a mandate from the Chinese Government to improve energy efficiency and reduce emissions.
With Sinopec operating 45 other refineries within China that have been identified as suitable for Kalina Cycle power plants, a successful roll out will provide Wasabi with a potential springboard to securing further projects.
The company is now preparing for a larger scale roll out and establishing engineering teams to cover a global expansion in geothermal and waste heat.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.