February 19 (Renewables Now) - Cleantech company Swedish Stirling AB will install its flagship recycling solution for an unnamed South African ferrochrome producer under a newly signed energy conversion service agreement.
Specifically, a special purpose vehicle (SPV) created by Swedish Stirling will install, own and operate a facility consisting of up to 25 units of the PWR BLOK 400-F with a maximum capacity of 9.9 MW. The project will take place at a power generation facility in South Africa.
The company describes the PWR BLOK 400-F as a container-based solution relying on Stirling engines to harness energy from flare and industrial residual gas combustion. It says that the product has the same effect on the climate as 100% renewable electricity to the record-low price of USD 21.7 (EUR 20.1) per MWh.
The new energy conversion service deal has a term of eight years from the time the facility is fully completed. The first PWR BLOK is seen to be commissioned by May 31, 2021.
Swedish Stirling estimates that a PWR BLOK system of 25 units can generate SEK 40 million (USD 4m/EUR 3.8m) in annual revenue for the firm.
(USD 1.0 = EUR 0.926)
(SEK 10 = USD 1.022/EUR 0.947)