Voith has recently signed a three-year umbrella agreement with EGP (Enel Green Power) to deliver modernization services for their turbine governors.
Local affiliate companies of EGP, spanning across 13 countries, will exploit the benefits that are expected to be obtained from the recent agreement, and develop a more dynamic approach to plant improvements through the modernization of the turbine governors.
Voith is a family-owned multinational technology company based in Germany, which operates across sectors such as IIoT business, automation, and mechanical engineering. Since its establishment of the manufacturing facility, the company has maintained a lucrative portfolio with nearly 18,000 governors supplied till date. Its operating business has four main divisions namely Voith Digital Ventures, Voith Turbo, Voith Paper, and Voith Hydro.
Enel Green Power is the subsidiary of Enel Group, which is dedicated to the operation and development of renewables across the globe. The subsidiary company is a leading green energy provider that integrates innovative technologies into various renewable power plants for hydropower, geothermal, wind, and solar energy.
The two companies have engaged in the umbrella agreement for various strategic reasons, as they both serve similar geographic markets and have worldwide operations serving various local subsidiaries.
Under the framework agreement, the two companies must focus on technical alignment to ensure a basic product specification that is globally consistent and can be locally adapted. Through this process, EGP’s hydropower plants can serve their specific local needs by integrating the basic specification as the foundation. Additionally, the agreement also presents a secure basis for the green energy provider in terms of planning for modernization investments to deliver great value addition for the company. During complex situations such as high demand for a new equipment at a specific plant, it can also help reduce the negotiation lead time to a minimum.