Finnish energy technology group Wärtsilä has signed a €150 million ($183 million), 10-year asset management deal for a power plant with one of the world’s largest gold mining companies.
The 170MW plant was commissioned in 2013, runs on 22 of Wärtsilä’s engines, and provides power to the mine operated by Lihir Gold on Lihir Island in Papua New Guinea.
The new 10-year deal is designed to reduce operational costs and boost power availability and kicks in from the end of the first quarter of 2021.
The agreement includes full technical support, real-time monitoring, condition-based maintenance and asset diagnostic reporting, as well as all planned and unplanned maintenance of the generator sets and auxiliaries.
Henri van Boxtel, energy business director at Wärtsilä Energy, said the deal “takes a holistic approach to the plant’s operations and maintenance”.
“By linking the availability and performance of the power generating plant to the mine’s productivity, we are establishing a flexible and beneficial business case that promotes efficiency and delivers real value over the entire lifecycle of the plant.”