(FLR) Fluor Awarded Engineering Contract for Power Plants

August 26th, 2009

Yesterday, Fluor Corporation (FLR) announced that it has been awarded an engineering services contract to design a concentrating solar power plant for eSolar, Inc. Fluor will provide design optimization to rapidly scale eSolar’s 46 megawatt power plants. The company did not disclose the contract value, but said that the amount was booked in the third quarter.

Fluor boasts three decades of experience in the renewables sector Incorporatedluding work in the solar, wind, nuclear, geothermal and air quality improvement markets. The company is looking to benefit from the fast-growing renewable energy market. Fluor pointed that according to McKinsey & Company research, installed global solar capacity is expected to grow by 30% to 35% annually — from a total of 10 gigawatts today to 200 to 400 gigawatts by 2020.

The company sees a huge potential in the solar, wind and biomass sectors. To capitalize on this potential, Fluor’s Power Group created a dedicated business line in May 2009 to specifically address the needs of the global renewable energy market. By bringing all the renewable-related resources under a single offering, the company believes that it will be able to provide a comprehensive range of solutions to clients in the solar, wind and biomass markets.

Apart from the newly awarded solar power plant project, Fluor is designing and building polysilicon production plants in China, Norway and the United States, a solar panel manufacturing plant in Singapore, as well as leading the design and build efforts for the world’s largest offshore wind farm in the United Kingdom.

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