This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

SPX Awarded Contract To Provide Dry Cooling System For Large Natural Gas Combined Cycle Power Plant In The U.S.

Stocks in this article: SPW

CHARLOTTE, N.C., May 10, 2012 /PRNewswire/ -- SPX Corporation today announced that its Thermal Equipment and Services segment has been awarded a contract to supply an air-cooled condenser (ACC) for a new 1.3 GW natural gas-fired, combined cycle power plant.  Dominion Virginia Power, a subsidiary of Dominion, plans to build the new power station facility in Warren County, Virginia.

The contract was awarded to SPX by Warren County Energy Partners, a joint venture of Burns & McDonnell and Zachry Industrial, Inc., and calls for SPX to supply one of the biggest ACCs in the world in what is expected to be one of the largest combined cycle power plants ever installed in the Americas.  The Warren County Power Station is scheduled to be constructed on a 39-acre site in the Warren Industrial Park, approximately three miles north of Front Royal, Virginia.

According to Dominion, the new station will feature three combustion turbines and a steam turbine, and will be powered solely by natural gas, making it one of the cleanest fossil fuel-fired facilities in the nation. The station is expected to generate enough energy to power approximately 325,000 homes, and Dominion anticipates that the plant's close proximity to Northern Virginia will enable it to serve a growing, high-demand region in the company's service area.

"This newest order is a testament to our decades of experience in designing and providing cooling systems for nearly all types of power stations, including natural gas-fired combined cycle plants," said Drew Ladau, SPX segment president. "Our deep understanding and proficiency in air cooled condenser technology allows us to provide large power plants with advanced, state-of-the-art cooling solutions to meet their specific needs."

Diminishing water resources have led to the growth of dry cooling systems worldwide. An air cooled condenser is made of modules arranged in parallel rows, with each module containing a number of fin tube heat exchanger cores. An axial flow, forced-draft fan located in each module forces cooling air across the heat exchange area of the fin tubes. This technology allows for the elimination of water usage from the condensing power cycle, as well as flexibility in power plant site selection and decreased time required for plant permitting.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs