{"id":393888,"date":"2010-03-05T08:23:00","date_gmt":"2010-03-05T13:23:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:403883"},"modified":"2010-03-05T08:23:00","modified_gmt":"2010-03-05T13:23:00","slug":"sncs-power-division-sees-improvement","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/393888","title":{"rendered":"SNC&#8217;s power division sees improvement"},"content":{"rendered":"<p><a href=\"http:\/\/www.financialpost.com\/markets\/company\/index.html?symbol=SNC&amp;id=99016\">SNC Lavalin Group Inc.<\/a>\u2019s power division is getting its swing back after the unit scored a key carbon capture project in Saskatchewan.<\/p>\n<p>The Montreal engineering giant won a deal this week to design and deliver a carbon dioxide capture system for SaskPower\u2019s ageing Boundary Dam, a 115 megawatt coal-fired power station near Estevan. SNC will do the work with partner Cansolv, a unit of Royal Dutch Shell. The value of the contract was not disclosed but is thought to be worth $300-million to SNC.<\/p>\n<p>\u201c[The company\u2019s] power division is definitely getting back on its feet,\u201d Genuity Capital Markets analyst Maxim Sytchev writes in a note to clients. \u201c[Carbon Dioxide] technology implementation such as the one contemplated in Saskatchewan should also strengthen [the] company\u2019s growth opportunities given the anticipated capital spend in this end-market.<\/p>\n<p>The power business will represent an estimated 14% of SNC\u2019s total revenues and operating income in fiscal 2010, Mr. Sytchev says. The unit\u2019s backlog at the end of the third quarter 2009 stood at $582-million.<\/p>\n<p>The SaskPower project could capture 1 million tonnes of CO2 per year, which would rank it as one of the first and largest commercial-scale carbon capture projects in the world, adds Desjardins Securities analyst Pierre Lacroix. \u201cWe believe such a project should give SNC a strong showcase for future opportunities in this promising market.\u201d<\/p>\n<p>He rates SNC a Buy with a $55 price target. Mr. Sytchev rates the company a Buy with a $60 target.<\/p>\n<p>The engineering firm reports fourth quarter results Friday and analysts are looking for two things: Guidance on 2010 earnings per share growth, and another dividend hike. The consensus estimate is for EPS of 52\u00a2 on revenue of $1.7-billion. <\/p>\n<p><a href=\"mailto:NVanPraet@nationalpost.com\">Nicolas Van Praet<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/aggbug.aspx?PostID=403883\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SNC Lavalin Group Inc.\u2019s power division is getting its swing back after the unit scored a key carbon capture project in Saskatchewan. The Montreal engineering giant won a deal this week to design and deliver a carbon dioxide capture system for SaskPower\u2019s ageing Boundary Dam, a 115 megawatt coal-fired power station near Estevan. SNC will [&hellip;]<\/p>\n","protected":false},"author":4059,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-393888","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/393888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4059"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=393888"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/393888\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=393888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=393888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=393888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}