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CAPSTONE SECURES NEW PROJECTS IN RUSSIA & COMMONWEALTH OF INDEPENDENT STATES (CIS)
Wednesday, October 10, 2018
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Source: Capstone Turbine


Source: Capstone Turbine


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VAN NUYS, Calif. -- Capstone Turbine Corp. has received multiple new orders for projects in Russia and the Commonwealth of Independent States (CIS). These new orders indicate a renewed interest from oil and gas and combined heat and power (CHP) customers in the commercial and industrial markets.

These new Russia orders were secured by Electrosystems, LLC and BMTec, two of Capstone’s more recent distribution partners in the region. The microturbine commissioning dates are expected before the end of 2018. The orders follow up on a significant order secured by Turbine International in late May that was paid in full and shipped in September. In addition, Turbine International is current with its scheduled payments against the fully reserved BPC International receivable.

One of the orders will utilize Capstone’s microturbines to provide the clean, and much needed reliable power for a technology manufacturer in Russia. While another CHP microturbine system will be used to offset the increasing utility prices for housing and communal services. The Turbine International project is for an expanding oil and gas pipeline project.

In addition to the Russian orders, TOO Synergy Astana, Capstone’s distribution partner in Kazakhstan has secured an order for additional microturbines for an existing Kazakhstan pipeline project. As a continuously growing project, the pipeline already depends on 60 Capstone microturbine systems, which includes two C800s for power, and is planning to purchase several more systems through 2019.

"We are seeing the results of our multiyear reorganization effort of the Russia and CIS marketplace for both the combined heat and power market and the oil and gas market," stated Darren Jamison, Capstone’s President and Chief Executive Officer. "Through this lengthy and complex process, we have moved from one distribution partner covering multiple verticals, to multiple partners for our three major verticals for distribution of our product in Russia and the surrounding CIS states."

Russia and the surrounding CIS region is potentially one of the faster-growing markets for microturbines as it recovers from the financial crisis and global collapse of crude oil. At its height in 2014, the region represented one of the largest markets for Capstone microturbines. With higher oil prices and improving economic conditions, the region is again adopting clean microturbine technology to replace an aging and sometimes-unreliable grid. Additionally, there are new opportunities in the oil and gas market in areas such as Azerbaijan and Kazakhstan as some of the world’s longest gas and oil pipelines continue to expand.

Source:  Capstone
Associated URL: https://www.capstoneturbine.com/news/press-releases/detail/3637/
Source Date: October 10, 2018
Posted: 10/11/2018

 

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