Sterling and Wilson, part of Shapoorji Pallonji Group, today said it has partnered with Professional Power Products (3PI) to expand its presence in the North American cogeneration and combined heat and power (CHP) market.
"Sterling and Wilson has partnered with Professional Power Products (3PI), a wholly owned subsidiary of Power Solutions International through a new venture, Sterling and Wilson Cogen Solutions (SWCS). The new company has been formed to pursue the rapidly expanding North American CHP market," the company said in a statement.
SWCS will initially open offices in Chicago, Philadelphia and New York, with plans to expand into other regions as the market continues to grow.
"We have been following the growth of the North American cogeneration market for the last several years," SWCS President Rajesh Shah said.
He said the company has analysed the market through its internal strategy group and global consulting companies, and these studies show the market is positioned for massive expansion.
"We have had all the resources necessary to capture a large segment of this 40 GW market, except for a US company with the necessary products and services that shared our vision. After an extensive search, we have found a partner to support that growth in PSI and its subsidiary 3PI," Shah said.
Through the combined capabilities of Sterling and Wilson, 3PI and PSI, the joint venture firm will supply development, engineering, products, service and financing of CHP systems, making it the only company in the market that can internally control all aspects of such projects.
"Sterling's entry into this market validates our vision for the expansion of our power generation engine products and the growth of 3PI," Power Solutions International Chairman and Chief Executive Officer Gary Winemaster said.
Sterling and Wilson Cogen Solutions is already pursuing several CHP projects and will be certifying cogeneration systems in both state and Department of Energy programs, Shah added.
