Capstone Turbine Corp has announced that BPC Engineering, its distributor in Belarus and Russia, secured another order for three C1000 microturbines that are due for shipment to Minsk in late October and scheduled to be commissioned by January.
The three gas-fuelled C1000s will be installed in a combined heat and power (CHP) application at a greenhouse for a major Belarusian plant growth facility near Minsk, Capstone said without disclosing the name of the customer.
Cash payment before product gets shipped
A new 3-year distribution agreement between BPC and Capstone for Belarus and Russia continues BPC’s requirement to pay cash upfront prior to shipment for all product releases from backlog.
A 15% premium of the total value for each shipment remains applicable for non-Signature Series products, which will be raised to 20% for new Signature Series products that are shipped after January 1, 2017. BPC’s previously reserved past due receivable and money owed on product shipment dropped from $8.1 million to $6.6 million as per end-September.
“Despite the geopolitical tensions and economic challenges in the region, BPC strengthen its power generation business,” Darren Jamison, Capstone’s President and CEO said, adding the latest order win “marks the eighth C1000 series product secured by BPC in the last four months.”
Belarus has an opportunity to “leapfrog” energy-intensive phases of economic development if affordable energy efficiency technologies are made available, according to IEA’s recent clean energy technology assessment. Belarus has curbed energy demand growth by deploying these technologies across various sectors.
Capstone Corp was the first to market commercially viable microturbine energy products. Headquartered in the Los Angeles area, the company has shipped approximately 8,800 Capstone microturbine systems to customers worldwide.