|By PR Newswire||
|April 24, 2014 02:00 AM EDT||
ALPHARETTA, Ga., April 24, 2014 /PRNewswire/ -- Wood Group GTS and Apex Bethel Energy Center, LLC ("Apex") have signed a three-year operations & maintenance (O&M) agreement for the Bethel Energy Center. Under the $12 million contract, Wood Group GTS will be responsible for care, custody and control of the facility when it begins commercial operation in 2017. Construction is soon to begin for the plant in East Texas, which will utilize compressed air energy storage ("CAES") technology.
"We needed an O&M partner willing to work with us during the development stage of the project. In Wood Group, we found a highly experienced O&M service provider with an excellent reputation in the industry and is well respected by investors," said Jack Farley, CEO of Apex. "Their customer-focused technical and commercial engagement made the negotiation of the service agreement very productive. Also, their ability to work within a tight schedule along with the OEM, which has minority interest in the facility, was critical to meeting our schedule."
"As the O&M partner for APEX we are able to minimize technical and commercial risks, while incorporating a transparent and flexible contracting structure," said Frank Avery, president of Wood Group GTS - Power Plant Services. "Our customer-focused programs, practices and procedures apply to facilities with all OEM turbine technologies and platforms, and have been honed from a solid foundation of operating experience and continuous improvement. With a risk-based approach to plant performance and availability, regulatory compliance requirements, and financial performance, we can stay aligned with our customer's goals and objectives."
O&M is a part of the overall products and services offered by Wood Group GTS, and are designed to maximize the return on our customers' investments in rotating equipment technologies.
Note to Editors
Wood Group GTS is a leading independent provider of rotating equipment services and solutions for clients in the power and oil & gas markets. Worldwide, these services include power plant engineering, procurement and construction; facility operations & maintenance; repair & overhaul, optimisation and upgrades of gas and steam turbines, pumps, compressors and other high-speed rotating equipment. www.woodgroupgts.com
Wood Group is an international energy services company with around $7bn sales, employing around 46,000 people worldwide and operating in 50 countries. The Group has three businesses – Wood Group Engineering, Wood Group PSN and Wood Group GTS – providing a range of engineering, production support, maintenance management and industrial gas turbine overhaul, repair services to the oil & gas and power generation industries worldwide. www.woodgroup.com
Apex Bethel Energy Center, LLC is a Houston-based company with a vision to develop, construct, own and operate compressed air energy storage (CAES) plants. CAES is a proven power storage and generation technology with unique capabilities to satisfy growing grid and power market needs.
Compressed air energy storage (CAES) is a way to store energy generated at one time for use at another time. At utility scale, energy generated during periods of low energy demand (off-peak) can be released to meet higher demand (peak load) periods.
SOURCE Wood Group GTS