Ansaldo Energia’s board of directors have approved a new business plan guidelines focused on making the Italian power turbine maker more competitive in a tough global market.
The company’s release stated that directors voted on guidelines which helped “relaunch” Ansaldo at industrial and financial levels. The company stated that 2019 results will likely fall below expectations, partially due to extra costs on a project in Turkey and working capital issues.
“The company invited both the main partners of Ansaldo Energia – CDP Equity S.p.A. (“CDPE”) and Shanghai Electric Hongkong Co. Limited – to support the company in the new plan and, in reply to this invitation, already received a comfort letter from partner CDPE in which the latter confirms the strategic nature of its investment in Ansaldo Energia,” the release stated.
CDPE apparently confirmed its willingness to support the company in the new business plan, with conditions on certain objectives. Ansaldo also has support from its main lending banks, according to the release.
Among the 2020 objectives include building on a sales drive which already has seen orders up 30 percent year over year. Ansaldo also plans to launch an H-class turbine marketing campaign.
Earlier this year, Ansaldo announced it had won a contract to provide engineering, construction and turbine services for the Irsching 6 gas-fired power plant in Germany. The plant will be equipped with an AE94.3A gas turbine, generator and auxiliary systems.
The Italian firm’s H-class line of gas turbines includes the introduction of the GT36 (pictured above), with power output capacity ranging from 70 to 500 MW, according to reports.
Ansaldo is part of a global market of turbine manufacturers including competitors GE, Mitsubishi Hitachi Power Systems and Siemens. Doosan Heavy Industries also is working on a large gas turbine product.