Fuji Electric Wins Contract for Iceland 45MW Geothermal Project

Fuji Electric Co. won a contract to supply equipment for a 45-megawatt geothermal power station in northeastern Iceland.

The contract was awarded by Landsvirkjun, or the National Power Company of Iceland, to a consortium of Fuji Electric and Balcke-Durr GmbH of Germany, Fuji Electric said in a statement Tuesday.

Fuji Electric will design, manufacture and supply a steam turbine and generator for the station, to be set up about 50 kilometers (30 miles) from Akureyri, a town in the north of the country, according to the statement. The plant will start running in October 2017.

The contract for the project is worth $42 million, according to the website of Landsvirkjun.

Fuji Electric has delivered 71 geothermal steam turbine power generation units with a combined capacity of about 2,800 megawatts across the world, according to the company.

Before it's here, it's on the Bloomberg Terminal.