Global Power Group
5 October 2015
2
Gary Nedelka
President of GPG since 2000
Joined Foster Wheeler in 1979
Prior company experience
President Foster Wheeler Power Group Asia (10 years)
VP Operations FWESA Spain (1 year)
Engineering and proposalproject management
Start up and commissioning
Current industry roles
Member ASME
Member AmericanChina Chamber of Commerce
Prior registered Professional Engineer State of New Jersey
Board Member Cotton Industries
Group President Global Power Group
Insert picture of
Gary
GPG overview
Leader in designing circulating fluidized bed steam generators (CFBs)
Growing heat recovery steam generators (HRSGs) offering
Developing full suite of clean air technologies
4 manufacturing facilities totaling over 2 million man-hoursyear
capacity
Flexible capacity through alliances
Aftermarket services
Full spectrum of service and equipment upgrades
A global business with more than 2000 highly-skilled people
3
GPG headline financials
4
pound million 2015 H1 2014 2013 2012
Scope revenue 195 451 501 605
Trading profit 21 691 109 130
Trading margin 108 153 218 215
Order book (poundbn) 04 04 04 05
Lumpier revenue profile than rest of Amec Foster Wheeler
10 projects represent almost 60 of orders for the past three years
100 fixed price contract style
Continue to expect average margins in low teens
More than pound300m of work awarded but not in order book
Only included in the order book when customer takes final decision to proceed
1 2014 profits includes a one off license settlement of cpound20m
Business model
Proprietary technology and IP
417 patents and 126 pending
RampD budget of cpound5m pa
c2 of revenue comes from royalties
Typical contract is Design amp Supply (DampS)
4 major manufacturing facilities
Network of subcontractors and vendors
Services (full line)
Condition assessment and upgrades
Engineered pressure parts
Off-the-shelf replacement parts
Build own andor operated (BOO)
2 plants (1 US 1 Chile) operated
6 assets in Italy non-operated
Revenue split 2010-2014
Boilers58Service
25
Environmental1
LicensesOther6 BOO
10
5
Circulating Fluidized Bed (CFB) boilers Waste heat boilers
Heat Recovery Steam generators
Bubbling Fluidized Bed (BFB) boilers PC boilers
Gasifiers
GPG has delivered 236 GWehellipNearly 3 times the current UK capacity
Units MWe
PC 338 111337
CFB 440 33781
Oil amp Gas 325 41969
HRSG 448 30891
Industrial 1052 15578
Solar 50 2209
Total 2653 235765
Total sold units
Industrial Includes PKB WHB Grate BFB Source Company database6
Products and services
Steam generators
Circulating Fluid Bed (CFB)
Pulverized Coal (PC)
Utility Oil amp Gas
Bubbling Fluid Bed (BFB)
Grate
Waste heat
Package
HRSG
Solar
Manufacturing
RampD
Aftermarket services
Engineered and
replacement pressure parts
Weld overlay and
refractory upgrades
Replacement parts
Cyclone burner retrofits
Coal mill service and
upgrade
Boiler and HRSG
maintenence
Outage construction
Performance enhancements
Boiler and APC retrofits
Environmental products
CFB scrubbers
Wet FGD systems
Dry Sorbent Injection (DSI)
Spray Dry Absorbers (SDA)
Dry and Wet ESPs
Fabric Filters (FF)
Cartridge Collectors (CC)
Flue gas CFD modeling
SCR and SNCR systems
Mill and classifier upgrades
Low NOx Burners (LNB)
RampD
Auxiliary equipment
Condensers
Feedwater heaters
Biomass gasifiers
Manufacturing
RampD
Plant ownership
Operations
Maintenance
Steam amp electric sales
Plant operation and maintenance (OampM)
7
8
Selected customers partners
Operators EPC contractors Licensees
Technology and products
9
Steam power plant fundamentals
Fuel is combusted within the boiler
(steam generator) and its heat
produces steam from feed water
The steam is used to power a
turbine which drives a generator
which produces electricity
The steam from the turbine is
condensed and returns to the boiler
as feed water
The flue gas from combustion leaves
the boiler and is cleaned before
emitting to atmosphere
10
CFB versus PC designCFB clean coal power technology
Finishing
Superheater
Sootblowers
Milling and Fuel
Transport Systems
SCR
Low Nox
Burners
OFA
Supercritical PC
Secondary
Superheater
Primary
Superheater
ReheaterVertical Tube
Evaporator
SuperReheaters
Protected in
INTREX
Supercritical CFB
SNCR
Gravity Feed
Fuel System
Primary
Superheater
Super or
Evap heating
SCR
(if needed)
11
Benefits of CFB technology
Flue gas
800-900oC
(1472-1652oF)
800-900oC
(1472-1652oF)
45-50 ms
(15-16 fts)
Limestone
lt1 mm
(004 in)
Coal
lt10 mm
(04 in)
Biomass
lt50 mm
(20 in)
Air
Low combustion temperature reduces boiler
maintenance
Long burning times lead to high efficiency and
low emissions
Very high fuel flexibility
12
Benefits of CFBs (2)
13
Technical advantages
Low (850 ordmC) combustion temperature
prevents ash fouling and corrosion
Long burning times for high combustion
efficiency even with slow burning fuels
Naturally low NOx due to low combustion
temperature
SOx captured by limestone in boiler as
fuel burns wo water
Very high fuel flexibility due to large
thermal inertia
No coal mills dryers or burners
Stable process not sensitive to fuel
quality change
Fuel flexibility advantages
Mix of coals including high sulphur
Waste coal
Bituminous gob anthracite culm
Industrial by-products
Wood waste pet coke
Agricultural waste
Rice husks bagasse pith oat hulls
Waste fuels
Tyre derived refuse refinery bottoms
Heat Recovery Steam GeneratorsOver 450 in operation today
14
Long standing reputation
We supplied 1st HRSG for a combined cycle plant in US
in 1958 at Rio Pecos
Track record of reliable operation and customer
satisfaction
Experience on turbines for a wide range of
manufacturers
Complete design capability
Using advanced 3D design tools for an integrated
design to avoid field interferences and easy erection
work
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
2
Gary Nedelka
President of GPG since 2000
Joined Foster Wheeler in 1979
Prior company experience
President Foster Wheeler Power Group Asia (10 years)
VP Operations FWESA Spain (1 year)
Engineering and proposalproject management
Start up and commissioning
Current industry roles
Member ASME
Member AmericanChina Chamber of Commerce
Prior registered Professional Engineer State of New Jersey
Board Member Cotton Industries
Group President Global Power Group
Insert picture of
Gary
GPG overview
Leader in designing circulating fluidized bed steam generators (CFBs)
Growing heat recovery steam generators (HRSGs) offering
Developing full suite of clean air technologies
4 manufacturing facilities totaling over 2 million man-hoursyear
capacity
Flexible capacity through alliances
Aftermarket services
Full spectrum of service and equipment upgrades
A global business with more than 2000 highly-skilled people
3
GPG headline financials
4
pound million 2015 H1 2014 2013 2012
Scope revenue 195 451 501 605
Trading profit 21 691 109 130
Trading margin 108 153 218 215
Order book (poundbn) 04 04 04 05
Lumpier revenue profile than rest of Amec Foster Wheeler
10 projects represent almost 60 of orders for the past three years
100 fixed price contract style
Continue to expect average margins in low teens
More than pound300m of work awarded but not in order book
Only included in the order book when customer takes final decision to proceed
1 2014 profits includes a one off license settlement of cpound20m
Business model
Proprietary technology and IP
417 patents and 126 pending
RampD budget of cpound5m pa
c2 of revenue comes from royalties
Typical contract is Design amp Supply (DampS)
4 major manufacturing facilities
Network of subcontractors and vendors
Services (full line)
Condition assessment and upgrades
Engineered pressure parts
Off-the-shelf replacement parts
Build own andor operated (BOO)
2 plants (1 US 1 Chile) operated
6 assets in Italy non-operated
Revenue split 2010-2014
Boilers58Service
25
Environmental1
LicensesOther6 BOO
10
5
Circulating Fluidized Bed (CFB) boilers Waste heat boilers
Heat Recovery Steam generators
Bubbling Fluidized Bed (BFB) boilers PC boilers
Gasifiers
GPG has delivered 236 GWehellipNearly 3 times the current UK capacity
Units MWe
PC 338 111337
CFB 440 33781
Oil amp Gas 325 41969
HRSG 448 30891
Industrial 1052 15578
Solar 50 2209
Total 2653 235765
Total sold units
Industrial Includes PKB WHB Grate BFB Source Company database6
Products and services
Steam generators
Circulating Fluid Bed (CFB)
Pulverized Coal (PC)
Utility Oil amp Gas
Bubbling Fluid Bed (BFB)
Grate
Waste heat
Package
HRSG
Solar
Manufacturing
RampD
Aftermarket services
Engineered and
replacement pressure parts
Weld overlay and
refractory upgrades
Replacement parts
Cyclone burner retrofits
Coal mill service and
upgrade
Boiler and HRSG
maintenence
Outage construction
Performance enhancements
Boiler and APC retrofits
Environmental products
CFB scrubbers
Wet FGD systems
Dry Sorbent Injection (DSI)
Spray Dry Absorbers (SDA)
Dry and Wet ESPs
Fabric Filters (FF)
Cartridge Collectors (CC)
Flue gas CFD modeling
SCR and SNCR systems
Mill and classifier upgrades
Low NOx Burners (LNB)
RampD
Auxiliary equipment
Condensers
Feedwater heaters
Biomass gasifiers
Manufacturing
RampD
Plant ownership
Operations
Maintenance
Steam amp electric sales
Plant operation and maintenance (OampM)
7
8
Selected customers partners
Operators EPC contractors Licensees
Technology and products
9
Steam power plant fundamentals
Fuel is combusted within the boiler
(steam generator) and its heat
produces steam from feed water
The steam is used to power a
turbine which drives a generator
which produces electricity
The steam from the turbine is
condensed and returns to the boiler
as feed water
The flue gas from combustion leaves
the boiler and is cleaned before
emitting to atmosphere
10
CFB versus PC designCFB clean coal power technology
Finishing
Superheater
Sootblowers
Milling and Fuel
Transport Systems
SCR
Low Nox
Burners
OFA
Supercritical PC
Secondary
Superheater
Primary
Superheater
ReheaterVertical Tube
Evaporator
SuperReheaters
Protected in
INTREX
Supercritical CFB
SNCR
Gravity Feed
Fuel System
Primary
Superheater
Super or
Evap heating
SCR
(if needed)
11
Benefits of CFB technology
Flue gas
800-900oC
(1472-1652oF)
800-900oC
(1472-1652oF)
45-50 ms
(15-16 fts)
Limestone
lt1 mm
(004 in)
Coal
lt10 mm
(04 in)
Biomass
lt50 mm
(20 in)
Air
Low combustion temperature reduces boiler
maintenance
Long burning times lead to high efficiency and
low emissions
Very high fuel flexibility
12
Benefits of CFBs (2)
13
Technical advantages
Low (850 ordmC) combustion temperature
prevents ash fouling and corrosion
Long burning times for high combustion
efficiency even with slow burning fuels
Naturally low NOx due to low combustion
temperature
SOx captured by limestone in boiler as
fuel burns wo water
Very high fuel flexibility due to large
thermal inertia
No coal mills dryers or burners
Stable process not sensitive to fuel
quality change
Fuel flexibility advantages
Mix of coals including high sulphur
Waste coal
Bituminous gob anthracite culm
Industrial by-products
Wood waste pet coke
Agricultural waste
Rice husks bagasse pith oat hulls
Waste fuels
Tyre derived refuse refinery bottoms
Heat Recovery Steam GeneratorsOver 450 in operation today
14
Long standing reputation
We supplied 1st HRSG for a combined cycle plant in US
in 1958 at Rio Pecos
Track record of reliable operation and customer
satisfaction
Experience on turbines for a wide range of
manufacturers
Complete design capability
Using advanced 3D design tools for an integrated
design to avoid field interferences and easy erection
work
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
GPG overview
Leader in designing circulating fluidized bed steam generators (CFBs)
Growing heat recovery steam generators (HRSGs) offering
Developing full suite of clean air technologies
4 manufacturing facilities totaling over 2 million man-hoursyear
capacity
Flexible capacity through alliances
Aftermarket services
Full spectrum of service and equipment upgrades
A global business with more than 2000 highly-skilled people
3
GPG headline financials
4
pound million 2015 H1 2014 2013 2012
Scope revenue 195 451 501 605
Trading profit 21 691 109 130
Trading margin 108 153 218 215
Order book (poundbn) 04 04 04 05
Lumpier revenue profile than rest of Amec Foster Wheeler
10 projects represent almost 60 of orders for the past three years
100 fixed price contract style
Continue to expect average margins in low teens
More than pound300m of work awarded but not in order book
Only included in the order book when customer takes final decision to proceed
1 2014 profits includes a one off license settlement of cpound20m
Business model
Proprietary technology and IP
417 patents and 126 pending
RampD budget of cpound5m pa
c2 of revenue comes from royalties
Typical contract is Design amp Supply (DampS)
4 major manufacturing facilities
Network of subcontractors and vendors
Services (full line)
Condition assessment and upgrades
Engineered pressure parts
Off-the-shelf replacement parts
Build own andor operated (BOO)
2 plants (1 US 1 Chile) operated
6 assets in Italy non-operated
Revenue split 2010-2014
Boilers58Service
25
Environmental1
LicensesOther6 BOO
10
5
Circulating Fluidized Bed (CFB) boilers Waste heat boilers
Heat Recovery Steam generators
Bubbling Fluidized Bed (BFB) boilers PC boilers
Gasifiers
GPG has delivered 236 GWehellipNearly 3 times the current UK capacity
Units MWe
PC 338 111337
CFB 440 33781
Oil amp Gas 325 41969
HRSG 448 30891
Industrial 1052 15578
Solar 50 2209
Total 2653 235765
Total sold units
Industrial Includes PKB WHB Grate BFB Source Company database6
Products and services
Steam generators
Circulating Fluid Bed (CFB)
Pulverized Coal (PC)
Utility Oil amp Gas
Bubbling Fluid Bed (BFB)
Grate
Waste heat
Package
HRSG
Solar
Manufacturing
RampD
Aftermarket services
Engineered and
replacement pressure parts
Weld overlay and
refractory upgrades
Replacement parts
Cyclone burner retrofits
Coal mill service and
upgrade
Boiler and HRSG
maintenence
Outage construction
Performance enhancements
Boiler and APC retrofits
Environmental products
CFB scrubbers
Wet FGD systems
Dry Sorbent Injection (DSI)
Spray Dry Absorbers (SDA)
Dry and Wet ESPs
Fabric Filters (FF)
Cartridge Collectors (CC)
Flue gas CFD modeling
SCR and SNCR systems
Mill and classifier upgrades
Low NOx Burners (LNB)
RampD
Auxiliary equipment
Condensers
Feedwater heaters
Biomass gasifiers
Manufacturing
RampD
Plant ownership
Operations
Maintenance
Steam amp electric sales
Plant operation and maintenance (OampM)
7
8
Selected customers partners
Operators EPC contractors Licensees
Technology and products
9
Steam power plant fundamentals
Fuel is combusted within the boiler
(steam generator) and its heat
produces steam from feed water
The steam is used to power a
turbine which drives a generator
which produces electricity
The steam from the turbine is
condensed and returns to the boiler
as feed water
The flue gas from combustion leaves
the boiler and is cleaned before
emitting to atmosphere
10
CFB versus PC designCFB clean coal power technology
Finishing
Superheater
Sootblowers
Milling and Fuel
Transport Systems
SCR
Low Nox
Burners
OFA
Supercritical PC
Secondary
Superheater
Primary
Superheater
ReheaterVertical Tube
Evaporator
SuperReheaters
Protected in
INTREX
Supercritical CFB
SNCR
Gravity Feed
Fuel System
Primary
Superheater
Super or
Evap heating
SCR
(if needed)
11
Benefits of CFB technology
Flue gas
800-900oC
(1472-1652oF)
800-900oC
(1472-1652oF)
45-50 ms
(15-16 fts)
Limestone
lt1 mm
(004 in)
Coal
lt10 mm
(04 in)
Biomass
lt50 mm
(20 in)
Air
Low combustion temperature reduces boiler
maintenance
Long burning times lead to high efficiency and
low emissions
Very high fuel flexibility
12
Benefits of CFBs (2)
13
Technical advantages
Low (850 ordmC) combustion temperature
prevents ash fouling and corrosion
Long burning times for high combustion
efficiency even with slow burning fuels
Naturally low NOx due to low combustion
temperature
SOx captured by limestone in boiler as
fuel burns wo water
Very high fuel flexibility due to large
thermal inertia
No coal mills dryers or burners
Stable process not sensitive to fuel
quality change
Fuel flexibility advantages
Mix of coals including high sulphur
Waste coal
Bituminous gob anthracite culm
Industrial by-products
Wood waste pet coke
Agricultural waste
Rice husks bagasse pith oat hulls
Waste fuels
Tyre derived refuse refinery bottoms
Heat Recovery Steam GeneratorsOver 450 in operation today
14
Long standing reputation
We supplied 1st HRSG for a combined cycle plant in US
in 1958 at Rio Pecos
Track record of reliable operation and customer
satisfaction
Experience on turbines for a wide range of
manufacturers
Complete design capability
Using advanced 3D design tools for an integrated
design to avoid field interferences and easy erection
work
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
GPG headline financials
4
pound million 2015 H1 2014 2013 2012
Scope revenue 195 451 501 605
Trading profit 21 691 109 130
Trading margin 108 153 218 215
Order book (poundbn) 04 04 04 05
Lumpier revenue profile than rest of Amec Foster Wheeler
10 projects represent almost 60 of orders for the past three years
100 fixed price contract style
Continue to expect average margins in low teens
More than pound300m of work awarded but not in order book
Only included in the order book when customer takes final decision to proceed
1 2014 profits includes a one off license settlement of cpound20m
Business model
Proprietary technology and IP
417 patents and 126 pending
RampD budget of cpound5m pa
c2 of revenue comes from royalties
Typical contract is Design amp Supply (DampS)
4 major manufacturing facilities
Network of subcontractors and vendors
Services (full line)
Condition assessment and upgrades
Engineered pressure parts
Off-the-shelf replacement parts
Build own andor operated (BOO)
2 plants (1 US 1 Chile) operated
6 assets in Italy non-operated
Revenue split 2010-2014
Boilers58Service
25
Environmental1
LicensesOther6 BOO
10
5
Circulating Fluidized Bed (CFB) boilers Waste heat boilers
Heat Recovery Steam generators
Bubbling Fluidized Bed (BFB) boilers PC boilers
Gasifiers
GPG has delivered 236 GWehellipNearly 3 times the current UK capacity
Units MWe
PC 338 111337
CFB 440 33781
Oil amp Gas 325 41969
HRSG 448 30891
Industrial 1052 15578
Solar 50 2209
Total 2653 235765
Total sold units
Industrial Includes PKB WHB Grate BFB Source Company database6
Products and services
Steam generators
Circulating Fluid Bed (CFB)
Pulverized Coal (PC)
Utility Oil amp Gas
Bubbling Fluid Bed (BFB)
Grate
Waste heat
Package
HRSG
Solar
Manufacturing
RampD
Aftermarket services
Engineered and
replacement pressure parts
Weld overlay and
refractory upgrades
Replacement parts
Cyclone burner retrofits
Coal mill service and
upgrade
Boiler and HRSG
maintenence
Outage construction
Performance enhancements
Boiler and APC retrofits
Environmental products
CFB scrubbers
Wet FGD systems
Dry Sorbent Injection (DSI)
Spray Dry Absorbers (SDA)
Dry and Wet ESPs
Fabric Filters (FF)
Cartridge Collectors (CC)
Flue gas CFD modeling
SCR and SNCR systems
Mill and classifier upgrades
Low NOx Burners (LNB)
RampD
Auxiliary equipment
Condensers
Feedwater heaters
Biomass gasifiers
Manufacturing
RampD
Plant ownership
Operations
Maintenance
Steam amp electric sales
Plant operation and maintenance (OampM)
7
8
Selected customers partners
Operators EPC contractors Licensees
Technology and products
9
Steam power plant fundamentals
Fuel is combusted within the boiler
(steam generator) and its heat
produces steam from feed water
The steam is used to power a
turbine which drives a generator
which produces electricity
The steam from the turbine is
condensed and returns to the boiler
as feed water
The flue gas from combustion leaves
the boiler and is cleaned before
emitting to atmosphere
10
CFB versus PC designCFB clean coal power technology
Finishing
Superheater
Sootblowers
Milling and Fuel
Transport Systems
SCR
Low Nox
Burners
OFA
Supercritical PC
Secondary
Superheater
Primary
Superheater
ReheaterVertical Tube
Evaporator
SuperReheaters
Protected in
INTREX
Supercritical CFB
SNCR
Gravity Feed
Fuel System
Primary
Superheater
Super or
Evap heating
SCR
(if needed)
11
Benefits of CFB technology
Flue gas
800-900oC
(1472-1652oF)
800-900oC
(1472-1652oF)
45-50 ms
(15-16 fts)
Limestone
lt1 mm
(004 in)
Coal
lt10 mm
(04 in)
Biomass
lt50 mm
(20 in)
Air
Low combustion temperature reduces boiler
maintenance
Long burning times lead to high efficiency and
low emissions
Very high fuel flexibility
12
Benefits of CFBs (2)
13
Technical advantages
Low (850 ordmC) combustion temperature
prevents ash fouling and corrosion
Long burning times for high combustion
efficiency even with slow burning fuels
Naturally low NOx due to low combustion
temperature
SOx captured by limestone in boiler as
fuel burns wo water
Very high fuel flexibility due to large
thermal inertia
No coal mills dryers or burners
Stable process not sensitive to fuel
quality change
Fuel flexibility advantages
Mix of coals including high sulphur
Waste coal
Bituminous gob anthracite culm
Industrial by-products
Wood waste pet coke
Agricultural waste
Rice husks bagasse pith oat hulls
Waste fuels
Tyre derived refuse refinery bottoms
Heat Recovery Steam GeneratorsOver 450 in operation today
14
Long standing reputation
We supplied 1st HRSG for a combined cycle plant in US
in 1958 at Rio Pecos
Track record of reliable operation and customer
satisfaction
Experience on turbines for a wide range of
manufacturers
Complete design capability
Using advanced 3D design tools for an integrated
design to avoid field interferences and easy erection
work
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Business model
Proprietary technology and IP
417 patents and 126 pending
RampD budget of cpound5m pa
c2 of revenue comes from royalties
Typical contract is Design amp Supply (DampS)
4 major manufacturing facilities
Network of subcontractors and vendors
Services (full line)
Condition assessment and upgrades
Engineered pressure parts
Off-the-shelf replacement parts
Build own andor operated (BOO)
2 plants (1 US 1 Chile) operated
6 assets in Italy non-operated
Revenue split 2010-2014
Boilers58Service
25
Environmental1
LicensesOther6 BOO
10
5
Circulating Fluidized Bed (CFB) boilers Waste heat boilers
Heat Recovery Steam generators
Bubbling Fluidized Bed (BFB) boilers PC boilers
Gasifiers
GPG has delivered 236 GWehellipNearly 3 times the current UK capacity
Units MWe
PC 338 111337
CFB 440 33781
Oil amp Gas 325 41969
HRSG 448 30891
Industrial 1052 15578
Solar 50 2209
Total 2653 235765
Total sold units
Industrial Includes PKB WHB Grate BFB Source Company database6
Products and services
Steam generators
Circulating Fluid Bed (CFB)
Pulverized Coal (PC)
Utility Oil amp Gas
Bubbling Fluid Bed (BFB)
Grate
Waste heat
Package
HRSG
Solar
Manufacturing
RampD
Aftermarket services
Engineered and
replacement pressure parts
Weld overlay and
refractory upgrades
Replacement parts
Cyclone burner retrofits
Coal mill service and
upgrade
Boiler and HRSG
maintenence
Outage construction
Performance enhancements
Boiler and APC retrofits
Environmental products
CFB scrubbers
Wet FGD systems
Dry Sorbent Injection (DSI)
Spray Dry Absorbers (SDA)
Dry and Wet ESPs
Fabric Filters (FF)
Cartridge Collectors (CC)
Flue gas CFD modeling
SCR and SNCR systems
Mill and classifier upgrades
Low NOx Burners (LNB)
RampD
Auxiliary equipment
Condensers
Feedwater heaters
Biomass gasifiers
Manufacturing
RampD
Plant ownership
Operations
Maintenance
Steam amp electric sales
Plant operation and maintenance (OampM)
7
8
Selected customers partners
Operators EPC contractors Licensees
Technology and products
9
Steam power plant fundamentals
Fuel is combusted within the boiler
(steam generator) and its heat
produces steam from feed water
The steam is used to power a
turbine which drives a generator
which produces electricity
The steam from the turbine is
condensed and returns to the boiler
as feed water
The flue gas from combustion leaves
the boiler and is cleaned before
emitting to atmosphere
10
CFB versus PC designCFB clean coal power technology
Finishing
Superheater
Sootblowers
Milling and Fuel
Transport Systems
SCR
Low Nox
Burners
OFA
Supercritical PC
Secondary
Superheater
Primary
Superheater
ReheaterVertical Tube
Evaporator
SuperReheaters
Protected in
INTREX
Supercritical CFB
SNCR
Gravity Feed
Fuel System
Primary
Superheater
Super or
Evap heating
SCR
(if needed)
11
Benefits of CFB technology
Flue gas
800-900oC
(1472-1652oF)
800-900oC
(1472-1652oF)
45-50 ms
(15-16 fts)
Limestone
lt1 mm
(004 in)
Coal
lt10 mm
(04 in)
Biomass
lt50 mm
(20 in)
Air
Low combustion temperature reduces boiler
maintenance
Long burning times lead to high efficiency and
low emissions
Very high fuel flexibility
12
Benefits of CFBs (2)
13
Technical advantages
Low (850 ordmC) combustion temperature
prevents ash fouling and corrosion
Long burning times for high combustion
efficiency even with slow burning fuels
Naturally low NOx due to low combustion
temperature
SOx captured by limestone in boiler as
fuel burns wo water
Very high fuel flexibility due to large
thermal inertia
No coal mills dryers or burners
Stable process not sensitive to fuel
quality change
Fuel flexibility advantages
Mix of coals including high sulphur
Waste coal
Bituminous gob anthracite culm
Industrial by-products
Wood waste pet coke
Agricultural waste
Rice husks bagasse pith oat hulls
Waste fuels
Tyre derived refuse refinery bottoms
Heat Recovery Steam GeneratorsOver 450 in operation today
14
Long standing reputation
We supplied 1st HRSG for a combined cycle plant in US
in 1958 at Rio Pecos
Track record of reliable operation and customer
satisfaction
Experience on turbines for a wide range of
manufacturers
Complete design capability
Using advanced 3D design tools for an integrated
design to avoid field interferences and easy erection
work
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Circulating Fluidized Bed (CFB) boilers Waste heat boilers
Heat Recovery Steam generators
Bubbling Fluidized Bed (BFB) boilers PC boilers
Gasifiers
GPG has delivered 236 GWehellipNearly 3 times the current UK capacity
Units MWe
PC 338 111337
CFB 440 33781
Oil amp Gas 325 41969
HRSG 448 30891
Industrial 1052 15578
Solar 50 2209
Total 2653 235765
Total sold units
Industrial Includes PKB WHB Grate BFB Source Company database6
Products and services
Steam generators
Circulating Fluid Bed (CFB)
Pulverized Coal (PC)
Utility Oil amp Gas
Bubbling Fluid Bed (BFB)
Grate
Waste heat
Package
HRSG
Solar
Manufacturing
RampD
Aftermarket services
Engineered and
replacement pressure parts
Weld overlay and
refractory upgrades
Replacement parts
Cyclone burner retrofits
Coal mill service and
upgrade
Boiler and HRSG
maintenence
Outage construction
Performance enhancements
Boiler and APC retrofits
Environmental products
CFB scrubbers
Wet FGD systems
Dry Sorbent Injection (DSI)
Spray Dry Absorbers (SDA)
Dry and Wet ESPs
Fabric Filters (FF)
Cartridge Collectors (CC)
Flue gas CFD modeling
SCR and SNCR systems
Mill and classifier upgrades
Low NOx Burners (LNB)
RampD
Auxiliary equipment
Condensers
Feedwater heaters
Biomass gasifiers
Manufacturing
RampD
Plant ownership
Operations
Maintenance
Steam amp electric sales
Plant operation and maintenance (OampM)
7
8
Selected customers partners
Operators EPC contractors Licensees
Technology and products
9
Steam power plant fundamentals
Fuel is combusted within the boiler
(steam generator) and its heat
produces steam from feed water
The steam is used to power a
turbine which drives a generator
which produces electricity
The steam from the turbine is
condensed and returns to the boiler
as feed water
The flue gas from combustion leaves
the boiler and is cleaned before
emitting to atmosphere
10
CFB versus PC designCFB clean coal power technology
Finishing
Superheater
Sootblowers
Milling and Fuel
Transport Systems
SCR
Low Nox
Burners
OFA
Supercritical PC
Secondary
Superheater
Primary
Superheater
ReheaterVertical Tube
Evaporator
SuperReheaters
Protected in
INTREX
Supercritical CFB
SNCR
Gravity Feed
Fuel System
Primary
Superheater
Super or
Evap heating
SCR
(if needed)
11
Benefits of CFB technology
Flue gas
800-900oC
(1472-1652oF)
800-900oC
(1472-1652oF)
45-50 ms
(15-16 fts)
Limestone
lt1 mm
(004 in)
Coal
lt10 mm
(04 in)
Biomass
lt50 mm
(20 in)
Air
Low combustion temperature reduces boiler
maintenance
Long burning times lead to high efficiency and
low emissions
Very high fuel flexibility
12
Benefits of CFBs (2)
13
Technical advantages
Low (850 ordmC) combustion temperature
prevents ash fouling and corrosion
Long burning times for high combustion
efficiency even with slow burning fuels
Naturally low NOx due to low combustion
temperature
SOx captured by limestone in boiler as
fuel burns wo water
Very high fuel flexibility due to large
thermal inertia
No coal mills dryers or burners
Stable process not sensitive to fuel
quality change
Fuel flexibility advantages
Mix of coals including high sulphur
Waste coal
Bituminous gob anthracite culm
Industrial by-products
Wood waste pet coke
Agricultural waste
Rice husks bagasse pith oat hulls
Waste fuels
Tyre derived refuse refinery bottoms
Heat Recovery Steam GeneratorsOver 450 in operation today
14
Long standing reputation
We supplied 1st HRSG for a combined cycle plant in US
in 1958 at Rio Pecos
Track record of reliable operation and customer
satisfaction
Experience on turbines for a wide range of
manufacturers
Complete design capability
Using advanced 3D design tools for an integrated
design to avoid field interferences and easy erection
work
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Products and services
Steam generators
Circulating Fluid Bed (CFB)
Pulverized Coal (PC)
Utility Oil amp Gas
Bubbling Fluid Bed (BFB)
Grate
Waste heat
Package
HRSG
Solar
Manufacturing
RampD
Aftermarket services
Engineered and
replacement pressure parts
Weld overlay and
refractory upgrades
Replacement parts
Cyclone burner retrofits
Coal mill service and
upgrade
Boiler and HRSG
maintenence
Outage construction
Performance enhancements
Boiler and APC retrofits
Environmental products
CFB scrubbers
Wet FGD systems
Dry Sorbent Injection (DSI)
Spray Dry Absorbers (SDA)
Dry and Wet ESPs
Fabric Filters (FF)
Cartridge Collectors (CC)
Flue gas CFD modeling
SCR and SNCR systems
Mill and classifier upgrades
Low NOx Burners (LNB)
RampD
Auxiliary equipment
Condensers
Feedwater heaters
Biomass gasifiers
Manufacturing
RampD
Plant ownership
Operations
Maintenance
Steam amp electric sales
Plant operation and maintenance (OampM)
7
8
Selected customers partners
Operators EPC contractors Licensees
Technology and products
9
Steam power plant fundamentals
Fuel is combusted within the boiler
(steam generator) and its heat
produces steam from feed water
The steam is used to power a
turbine which drives a generator
which produces electricity
The steam from the turbine is
condensed and returns to the boiler
as feed water
The flue gas from combustion leaves
the boiler and is cleaned before
emitting to atmosphere
10
CFB versus PC designCFB clean coal power technology
Finishing
Superheater
Sootblowers
Milling and Fuel
Transport Systems
SCR
Low Nox
Burners
OFA
Supercritical PC
Secondary
Superheater
Primary
Superheater
ReheaterVertical Tube
Evaporator
SuperReheaters
Protected in
INTREX
Supercritical CFB
SNCR
Gravity Feed
Fuel System
Primary
Superheater
Super or
Evap heating
SCR
(if needed)
11
Benefits of CFB technology
Flue gas
800-900oC
(1472-1652oF)
800-900oC
(1472-1652oF)
45-50 ms
(15-16 fts)
Limestone
lt1 mm
(004 in)
Coal
lt10 mm
(04 in)
Biomass
lt50 mm
(20 in)
Air
Low combustion temperature reduces boiler
maintenance
Long burning times lead to high efficiency and
low emissions
Very high fuel flexibility
12
Benefits of CFBs (2)
13
Technical advantages
Low (850 ordmC) combustion temperature
prevents ash fouling and corrosion
Long burning times for high combustion
efficiency even with slow burning fuels
Naturally low NOx due to low combustion
temperature
SOx captured by limestone in boiler as
fuel burns wo water
Very high fuel flexibility due to large
thermal inertia
No coal mills dryers or burners
Stable process not sensitive to fuel
quality change
Fuel flexibility advantages
Mix of coals including high sulphur
Waste coal
Bituminous gob anthracite culm
Industrial by-products
Wood waste pet coke
Agricultural waste
Rice husks bagasse pith oat hulls
Waste fuels
Tyre derived refuse refinery bottoms
Heat Recovery Steam GeneratorsOver 450 in operation today
14
Long standing reputation
We supplied 1st HRSG for a combined cycle plant in US
in 1958 at Rio Pecos
Track record of reliable operation and customer
satisfaction
Experience on turbines for a wide range of
manufacturers
Complete design capability
Using advanced 3D design tools for an integrated
design to avoid field interferences and easy erection
work
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
8
Selected customers partners
Operators EPC contractors Licensees
Technology and products
9
Steam power plant fundamentals
Fuel is combusted within the boiler
(steam generator) and its heat
produces steam from feed water
The steam is used to power a
turbine which drives a generator
which produces electricity
The steam from the turbine is
condensed and returns to the boiler
as feed water
The flue gas from combustion leaves
the boiler and is cleaned before
emitting to atmosphere
10
CFB versus PC designCFB clean coal power technology
Finishing
Superheater
Sootblowers
Milling and Fuel
Transport Systems
SCR
Low Nox
Burners
OFA
Supercritical PC
Secondary
Superheater
Primary
Superheater
ReheaterVertical Tube
Evaporator
SuperReheaters
Protected in
INTREX
Supercritical CFB
SNCR
Gravity Feed
Fuel System
Primary
Superheater
Super or
Evap heating
SCR
(if needed)
11
Benefits of CFB technology
Flue gas
800-900oC
(1472-1652oF)
800-900oC
(1472-1652oF)
45-50 ms
(15-16 fts)
Limestone
lt1 mm
(004 in)
Coal
lt10 mm
(04 in)
Biomass
lt50 mm
(20 in)
Air
Low combustion temperature reduces boiler
maintenance
Long burning times lead to high efficiency and
low emissions
Very high fuel flexibility
12
Benefits of CFBs (2)
13
Technical advantages
Low (850 ordmC) combustion temperature
prevents ash fouling and corrosion
Long burning times for high combustion
efficiency even with slow burning fuels
Naturally low NOx due to low combustion
temperature
SOx captured by limestone in boiler as
fuel burns wo water
Very high fuel flexibility due to large
thermal inertia
No coal mills dryers or burners
Stable process not sensitive to fuel
quality change
Fuel flexibility advantages
Mix of coals including high sulphur
Waste coal
Bituminous gob anthracite culm
Industrial by-products
Wood waste pet coke
Agricultural waste
Rice husks bagasse pith oat hulls
Waste fuels
Tyre derived refuse refinery bottoms
Heat Recovery Steam GeneratorsOver 450 in operation today
14
Long standing reputation
We supplied 1st HRSG for a combined cycle plant in US
in 1958 at Rio Pecos
Track record of reliable operation and customer
satisfaction
Experience on turbines for a wide range of
manufacturers
Complete design capability
Using advanced 3D design tools for an integrated
design to avoid field interferences and easy erection
work
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Technology and products
9
Steam power plant fundamentals
Fuel is combusted within the boiler
(steam generator) and its heat
produces steam from feed water
The steam is used to power a
turbine which drives a generator
which produces electricity
The steam from the turbine is
condensed and returns to the boiler
as feed water
The flue gas from combustion leaves
the boiler and is cleaned before
emitting to atmosphere
10
CFB versus PC designCFB clean coal power technology
Finishing
Superheater
Sootblowers
Milling and Fuel
Transport Systems
SCR
Low Nox
Burners
OFA
Supercritical PC
Secondary
Superheater
Primary
Superheater
ReheaterVertical Tube
Evaporator
SuperReheaters
Protected in
INTREX
Supercritical CFB
SNCR
Gravity Feed
Fuel System
Primary
Superheater
Super or
Evap heating
SCR
(if needed)
11
Benefits of CFB technology
Flue gas
800-900oC
(1472-1652oF)
800-900oC
(1472-1652oF)
45-50 ms
(15-16 fts)
Limestone
lt1 mm
(004 in)
Coal
lt10 mm
(04 in)
Biomass
lt50 mm
(20 in)
Air
Low combustion temperature reduces boiler
maintenance
Long burning times lead to high efficiency and
low emissions
Very high fuel flexibility
12
Benefits of CFBs (2)
13
Technical advantages
Low (850 ordmC) combustion temperature
prevents ash fouling and corrosion
Long burning times for high combustion
efficiency even with slow burning fuels
Naturally low NOx due to low combustion
temperature
SOx captured by limestone in boiler as
fuel burns wo water
Very high fuel flexibility due to large
thermal inertia
No coal mills dryers or burners
Stable process not sensitive to fuel
quality change
Fuel flexibility advantages
Mix of coals including high sulphur
Waste coal
Bituminous gob anthracite culm
Industrial by-products
Wood waste pet coke
Agricultural waste
Rice husks bagasse pith oat hulls
Waste fuels
Tyre derived refuse refinery bottoms
Heat Recovery Steam GeneratorsOver 450 in operation today
14
Long standing reputation
We supplied 1st HRSG for a combined cycle plant in US
in 1958 at Rio Pecos
Track record of reliable operation and customer
satisfaction
Experience on turbines for a wide range of
manufacturers
Complete design capability
Using advanced 3D design tools for an integrated
design to avoid field interferences and easy erection
work
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Steam power plant fundamentals
Fuel is combusted within the boiler
(steam generator) and its heat
produces steam from feed water
The steam is used to power a
turbine which drives a generator
which produces electricity
The steam from the turbine is
condensed and returns to the boiler
as feed water
The flue gas from combustion leaves
the boiler and is cleaned before
emitting to atmosphere
10
CFB versus PC designCFB clean coal power technology
Finishing
Superheater
Sootblowers
Milling and Fuel
Transport Systems
SCR
Low Nox
Burners
OFA
Supercritical PC
Secondary
Superheater
Primary
Superheater
ReheaterVertical Tube
Evaporator
SuperReheaters
Protected in
INTREX
Supercritical CFB
SNCR
Gravity Feed
Fuel System
Primary
Superheater
Super or
Evap heating
SCR
(if needed)
11
Benefits of CFB technology
Flue gas
800-900oC
(1472-1652oF)
800-900oC
(1472-1652oF)
45-50 ms
(15-16 fts)
Limestone
lt1 mm
(004 in)
Coal
lt10 mm
(04 in)
Biomass
lt50 mm
(20 in)
Air
Low combustion temperature reduces boiler
maintenance
Long burning times lead to high efficiency and
low emissions
Very high fuel flexibility
12
Benefits of CFBs (2)
13
Technical advantages
Low (850 ordmC) combustion temperature
prevents ash fouling and corrosion
Long burning times for high combustion
efficiency even with slow burning fuels
Naturally low NOx due to low combustion
temperature
SOx captured by limestone in boiler as
fuel burns wo water
Very high fuel flexibility due to large
thermal inertia
No coal mills dryers or burners
Stable process not sensitive to fuel
quality change
Fuel flexibility advantages
Mix of coals including high sulphur
Waste coal
Bituminous gob anthracite culm
Industrial by-products
Wood waste pet coke
Agricultural waste
Rice husks bagasse pith oat hulls
Waste fuels
Tyre derived refuse refinery bottoms
Heat Recovery Steam GeneratorsOver 450 in operation today
14
Long standing reputation
We supplied 1st HRSG for a combined cycle plant in US
in 1958 at Rio Pecos
Track record of reliable operation and customer
satisfaction
Experience on turbines for a wide range of
manufacturers
Complete design capability
Using advanced 3D design tools for an integrated
design to avoid field interferences and easy erection
work
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
CFB versus PC designCFB clean coal power technology
Finishing
Superheater
Sootblowers
Milling and Fuel
Transport Systems
SCR
Low Nox
Burners
OFA
Supercritical PC
Secondary
Superheater
Primary
Superheater
ReheaterVertical Tube
Evaporator
SuperReheaters
Protected in
INTREX
Supercritical CFB
SNCR
Gravity Feed
Fuel System
Primary
Superheater
Super or
Evap heating
SCR
(if needed)
11
Benefits of CFB technology
Flue gas
800-900oC
(1472-1652oF)
800-900oC
(1472-1652oF)
45-50 ms
(15-16 fts)
Limestone
lt1 mm
(004 in)
Coal
lt10 mm
(04 in)
Biomass
lt50 mm
(20 in)
Air
Low combustion temperature reduces boiler
maintenance
Long burning times lead to high efficiency and
low emissions
Very high fuel flexibility
12
Benefits of CFBs (2)
13
Technical advantages
Low (850 ordmC) combustion temperature
prevents ash fouling and corrosion
Long burning times for high combustion
efficiency even with slow burning fuels
Naturally low NOx due to low combustion
temperature
SOx captured by limestone in boiler as
fuel burns wo water
Very high fuel flexibility due to large
thermal inertia
No coal mills dryers or burners
Stable process not sensitive to fuel
quality change
Fuel flexibility advantages
Mix of coals including high sulphur
Waste coal
Bituminous gob anthracite culm
Industrial by-products
Wood waste pet coke
Agricultural waste
Rice husks bagasse pith oat hulls
Waste fuels
Tyre derived refuse refinery bottoms
Heat Recovery Steam GeneratorsOver 450 in operation today
14
Long standing reputation
We supplied 1st HRSG for a combined cycle plant in US
in 1958 at Rio Pecos
Track record of reliable operation and customer
satisfaction
Experience on turbines for a wide range of
manufacturers
Complete design capability
Using advanced 3D design tools for an integrated
design to avoid field interferences and easy erection
work
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Benefits of CFB technology
Flue gas
800-900oC
(1472-1652oF)
800-900oC
(1472-1652oF)
45-50 ms
(15-16 fts)
Limestone
lt1 mm
(004 in)
Coal
lt10 mm
(04 in)
Biomass
lt50 mm
(20 in)
Air
Low combustion temperature reduces boiler
maintenance
Long burning times lead to high efficiency and
low emissions
Very high fuel flexibility
12
Benefits of CFBs (2)
13
Technical advantages
Low (850 ordmC) combustion temperature
prevents ash fouling and corrosion
Long burning times for high combustion
efficiency even with slow burning fuels
Naturally low NOx due to low combustion
temperature
SOx captured by limestone in boiler as
fuel burns wo water
Very high fuel flexibility due to large
thermal inertia
No coal mills dryers or burners
Stable process not sensitive to fuel
quality change
Fuel flexibility advantages
Mix of coals including high sulphur
Waste coal
Bituminous gob anthracite culm
Industrial by-products
Wood waste pet coke
Agricultural waste
Rice husks bagasse pith oat hulls
Waste fuels
Tyre derived refuse refinery bottoms
Heat Recovery Steam GeneratorsOver 450 in operation today
14
Long standing reputation
We supplied 1st HRSG for a combined cycle plant in US
in 1958 at Rio Pecos
Track record of reliable operation and customer
satisfaction
Experience on turbines for a wide range of
manufacturers
Complete design capability
Using advanced 3D design tools for an integrated
design to avoid field interferences and easy erection
work
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Benefits of CFBs (2)
13
Technical advantages
Low (850 ordmC) combustion temperature
prevents ash fouling and corrosion
Long burning times for high combustion
efficiency even with slow burning fuels
Naturally low NOx due to low combustion
temperature
SOx captured by limestone in boiler as
fuel burns wo water
Very high fuel flexibility due to large
thermal inertia
No coal mills dryers or burners
Stable process not sensitive to fuel
quality change
Fuel flexibility advantages
Mix of coals including high sulphur
Waste coal
Bituminous gob anthracite culm
Industrial by-products
Wood waste pet coke
Agricultural waste
Rice husks bagasse pith oat hulls
Waste fuels
Tyre derived refuse refinery bottoms
Heat Recovery Steam GeneratorsOver 450 in operation today
14
Long standing reputation
We supplied 1st HRSG for a combined cycle plant in US
in 1958 at Rio Pecos
Track record of reliable operation and customer
satisfaction
Experience on turbines for a wide range of
manufacturers
Complete design capability
Using advanced 3D design tools for an integrated
design to avoid field interferences and easy erection
work
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Heat Recovery Steam GeneratorsOver 450 in operation today
14
Long standing reputation
We supplied 1st HRSG for a combined cycle plant in US
in 1958 at Rio Pecos
Track record of reliable operation and customer
satisfaction
Experience on turbines for a wide range of
manufacturers
Complete design capability
Using advanced 3D design tools for an integrated
design to avoid field interferences and easy erection
work
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Particulate Control Low NOx Control
Air pollution control productsIncreases addressable market by 15
TECO Big Bend Station units 1 amp 2
wet FGD systemCarlisle Industrial Brake
jet III fabric filters
Endesa Compostilla unit 3
low NOx Burner system
4741 wet and dry
ESPs fabric filters
and cartridge
collectors systems
delivered
257 low NOx
combustion and
132 SCR retrofits
completed
269 wet FGDs
CFB scrubbers
SDA scrubbers and
DSI systems
delivered
Acid Gas and
Metal Control
GPG has a full suite of air quality control (AQCS) products
2014 acquisition of Wheelabrator technologies from Siemens
Currently small part of the business but projected to grow
Good synergies with CFB products
15
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
16
Design and supply
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
4 major manufacturing facilities
Spain is closing down in 2015
Over 2 million man-hoursyear of
capacity
Alliances with several partner
shops for additional ldquoflexiblerdquo
capacity
Can take on 3rd party work to
maintain utilisationThailand
Spain
Established 1977
Location Tarragona Spain (100 km S of Barcelona)
Products Conventional steam generators
fluidized bed boilers industrial boilers HRSGs
package boilers auxiliary equipment
Certifications ISO 9001 ASME Spanish
Pressure Parts
Poland
Established 1995
Location Sosnowiec Poland
Products CFB boilers BFB boilers HRSGs oilgas
fire amp water tube package boilers heat exchangers
and pressure vessels waste heat boilers
Certifications ISO 9001 ASME and DIN
Established 1997
Location Xinhui City PRC (95 km NW of Hong Kong)
Products amp Services Circulating fluidized bed boilers
supercritical boilers arch fired boilers bubbling bed
boilers replacement boiler components
Certifications ASME code certifications S amp PP China
Boiler Manufacturing Certificate Level A ISO 9001
China
Established 2000
Location Banchang Rayong Province Thailand
(180 km SE of Bangkok)
Products Pressure parts for CFB Boilers waste
heat boiler PC boiler boiler spare parts
Certifications ASME Code Certification S Stamp
Manufacturing facilitiesHigh quality and flexible
17
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
In-house component manufacture
Cyclone Throat HRSG Header Fluidizing Grid
Bare Tube Coils Coils Cyclones Weld Overlay Capability
AEP
Ameren
Bechtel
Black amp Veatch
Constellation
DukeCinergy
FPampL
Hong Kong Power
amp Light
KCPampL
Marubeni
NIPSCO
Pacific Corp
Reliant Energy
ShawStone
amp Webster
Sumitomo Heavy
Industries
18
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Flexible scope of work
19
EUR N AM ASIA LICENSEE cost
OU
TS
IDE
BO
ILE
R
ISL
AN
D
Turbine - - - - 10
Handling systems - - - -45
Buildings roads - - - -
Environmental systemsP P - (P) 10
Auxiliary equipmentP (P) - - 5
BO
ILE
R
RE
LA
TE
D
Erection installationP - - - 15
ManufacturingP P P (P) 10
Design engineeringP P P (P) 5
TechnologyP P P P 1
GPG
SCOPE
Up to 45 of plant cost can be within GPG scope
30 is boiler related
Scope depends on region and customer type
P (P) (Sometimes in) GPG scope
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Selected projects
20
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
KOSPOrsquos Green Power Project in Samcheok Korea
Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea
State-of-the-art utility CFB technology
Advanced ultra supercritical vertical tube steam technology
4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs
Capacity to supply power to 750000 homes
424388 (LHVHHV) net efficiency
Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)
Firing a wide range of import and domestic coals and biomasses
Commercial operation expected in 2016
KOSPO Selected USC CFB Technology over PC
21
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass
Plant electrical output (grossnet) 205190 MWe
Net plant efficiency (LHVHHV) 365314
Steam flow (SHRH)158135 kgs
12511071 kpph
Steam pressure (SHRH)12619 barg
1828276 psig
Steam temperature (SHRH)535535degC
995995degF
Plant location Polaniec Poland
Customer GDF Suez Energia Polska
Plant start-up Fourth Quarter 2012
Fires up to 20 high alkaline agricultural
biomasses with wood-based biomasses
In September 2012 Polaniec CFB went on-line
producing 210 MWe of power from 100 biomass
222
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Sample of ongoing projects
Client Project Product LocationCapacity
(MWe)
Estimated
completion
date
Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19
Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18
Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18
Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18
Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17
Harbin Electric HIDRO-GEN Energy - SOMACFB
+ ScrubbersTurkey 2 x 255 Jun-17
Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17
Deven JSCo Solvay Sodi Chemical PlantCFB
Boiler IslandBulgaria 1 x 50 Jun-17
Undisclosed Power Plant Expansion HRSG Northeast USUpdated
Frame 7May-17
Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17
eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16
Al-Toukhi Company Yanbu Power amp Desalination Plant
Condensers
Feed Water
Heaters
Saudi Arabia 5 Cond
30 FWHJun-16
Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16
233
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
USA
100 MWe cogeneration project in Martinez CA
Natural gas CCGT
Chile
74 MWe PetroPower CFB cogen plant in Talcahuano
Fueled with petroleum coke
Italy (Not managed by GPG)
150 MWe combined cycle plant in Ferrara
150 MWe combined cycle plant in Teverola
48 MWe wind farm in Pietramontecorvino
32 MWe wind farm in Scampitella
32 MWe waste-to-energy plant in Lomellina
Refuse derived fuel CFB boiler
225 MWe wind farm in Vallesaccarda
Owned andor operated plants
Martinez CA
Talcahuano Chile
Lomellina Italy
244
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Market overview
25
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
CFBs represent c13 of solid-fuel market
26
CFB market share 2005-20142
Amec Foster
Wheeler47
14
8
5
5
4
3
22
2
2 6
Amec Foster Wheeler
Dongfang Boiler Co
Alstom
Formosa Heavy Ind
Valmet
Shanghai Boiler Co
Andritz
SES Tlmace
Hyundai Heavy Ind
Harbin Boiler Co
Wuxi Boiler Co
Others
CFB share of solid fuel boiler market1
Pulverised coal (PC) boilers remain dominant
Up-front build costs are generally lower than CFBs
Large utility-sized boilers (gt1000 MWe) only available as PCs
1 McCoy Power Reports
2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe
13
87
CFB PC
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Leading international supplier of CFBs440 CFBs since 1975
34 GWe in power capacity sold
Single unit capacities developed up to 800 MWe
Largest currently in operation 550 MWe
Over 30 million hours of operation
Widest fuel experience in industry
78 petcoke market share
48 biomass market share
277
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
1 in heat recovery equipmentIn partnership with BHI
Global Power Group
Advanced and proven
HRSG technology
Local presence
Licensee of Amec Foster
Wheeler since 2005
Advanced South Korea
HRSG fabrication facilities
Cost competitive execution
Supplied by Amec FW
Supplied by BHI
Source for bar Chart is McCoy Power Reports
Global HRSG Sales in 2014
288
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Market opportunities
29
CFB has opportunity to grow share in boiler market
Particularly larger super-critical units (ldquoutility sizerdquo)
Route to size of market varies on contracting style
Direct sales to utilities means largest potential scope for GPG
Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG
Current prospects include
USMex new build gas combined cycle and industrial plants
SE Europe new build clean coallignitebiomass
Asia new build clean(er) coalbiomass
AfricaS America Asia new build coalpetcoke
Environmental retrofits aftermarket services expanding license coverage
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens
Outlook
30
GPG bookings have a high correlation with GDP fluctuations
Coal use under pressure globally ndash especially in N AmericaEU
CFB value proposition remains attractive
Wide fuel flexibility
Low emissions
High reliability
Growth in air quality products
Target stable revenues and margins in the low teens