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MarketScreener Homepage  >  Equities  >  Xetra  >  Siemens       DE0007236101

SIEMENS

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Siemens : to maintain and digitalize Shuweihat S2 power plant in Abu Dhabi

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02/12/2019 | 12:10pm EDT

- 18-year service agreement for Shuweihat S2 IWPP in Abu Dhabi

- Digital services and extended intervals for optimized maintenance cost

- Comprehensive cybersecurity solutions to reduce cyber threats

Orlando, Florida -- Siemens today announced it has signed an extension of a multi-year maintenance service agreement with Shuweihat S2 Operation and Maintenance Company (S2O&M). Under terms of the contract, Siemens will support the 1,500 megawatt (MW) combined-cycle power and water plant, Shuweihat S2 IWPP (Independent Water and Power Plant), in Abu Dhabi, United Arab Emirates. With the new 18-year extension, Siemens will also deploy products from its Omnivise digital services portfolio including cybersecurity solutions to help improve asset visibility, reliability and availability.

"With UAE's increasing demand for energy, we are embracing new and innovative ways to improve the reliability and performance of our power assets," said Ramesh Kakade, Plant General Manager at S2O&M. "Our agreement with Siemens incorporates the latest digital technology, ensuring more reliable and flexible power generation at Shuweihat S2 power and water plant."

The project will see the deployment of Siemens' FlexLTP (Flexible Long-Term Program), which provides a high degree of asset availability by extending intervals between inspections. The program includes an integrated suite of advanced remote monitoring and diagnostics services, such as Asset Monitor. Using advanced data-driven analytics, this service provides a visualization of plant asset data and key performance indicators (KPIs) for early detection of potential issues.

"Digital solutions have become a strong contributor for sustainable growth in the power sector," said Gianluigi Di Giovanni, Senior Executive Vice President of Siemens Power Generation Services in the Middle East and North Africa. "I am pleased that our continued relationship, combined with Siemens services capabilities and digital solutions, will support the long-term maintenance and performance for Shuweihat S2 power plant, ensuring more reliable and flexible power generation for the UAE."

One of the challenges faced by power plant operators is receiving hundreds of false alarms, caused by different factors that could interrupt operations. Utilizing cloud analytics, Siemens' I&C Monitors and Advisors can identify the root cause of false alarms and help eliminate them. By improving the accuracy and reliability of power asset measurements, this technology can increase productivity and thus, profitability.

Siemens will also utilize Remote Resident Engineers, which allows the company's experts to remotely resolve performance issues and forecast maintenance needs, using a secured network and two-factor authentication to eliminate any cyber risks. The company's cybersecurity solutions will help protect the power plant's operations, maximize system uptime and mitigate exposure to vulnerabilities.

Beyond digitalizing the power services, the agreement will see the supply of spare parts, on-site inspection and major inspections on the plant's Siemens SGT5-4000F gas turbines, SST5-6000IP steam turbines alongside the associated generators and electrical equipment. Aligning with the plant's focus on Emiratization, Siemens will also provide technical training services to support skills development and knowledge transfer among Emiratis.

For further information on Siemens Power Generation Services, please see http://www.energy.siemens.com/hq/en/services/

Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of electrification, automation and digitalization. One of the largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. With its publicly listed subsidiary Siemens Healthineers AG, the company is also a leading provider of medical imaging equipment - such as computed tomography and magnetic resonance imaging systems - and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2018, which ended on September 30, 2018, Siemens generated revenue of EUR83.0 billion and net income of EUR6.1 billion. At the end of September 2018, the company had around 379,000 employees worldwide. Further information is available on the Internet at www.siemens.com.

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(C) 2019 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
SIEMENS HEALTHINEERS AG 2.46% 37.54 Delayed Quote.0.26%
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Financials (€)
Sales 2019 86 162 M
EBIT 2019 7 571 M
Net income 2019 5 230 M
Debt 2019 18 429 M
Yield 2019 3,57%
P/E ratio 2019 16,35
P/E ratio 2020 14,01
EV / Sales 2019 1,26x
EV / Sales 2020 1,23x
Capitalization 90 525 M
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Number of Analysts 27
Average target price 121 €
Spread / Average Target 13%
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NameTitle
Josef Kaeser President & Chief Executive Officer
Jim Hagemann Snabe Chairman-Supervisory Board
Roland Emil Busch Chief Operating & Technology Officer
Ralf Peter Thomas Chief Financial Officer
Helmuth Ludwig Chief Information Officer
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