What are the ambient temperature requirements? 5 to 45 degC
What is the operating speed? 1800 rpm
Is this being driven from a variable speed drive? No
Is water readily available? Yes, soft water (treated, closed loop)
What are the noise requirements? 85 dB measured one meter from source
Ambient temperature requirements will dictate the frame for the machine, if you are increasing above the standard 40degC rating then it is probable you will have an increase in motor frame size i.e. increase in cost.
Water cooling the motor is a far more efficient way of cooling than air, and could possibly provide a reduction in motor frame size. However, if the closed-loop water cooling system is via an water-to-air heat exchanger, where the ambient temperature is 45degC, the motor will be under the same constraints as that of air cooled. i.e. increase in motor frame, increase in cost. I assume that the water is chilled, hence there will be an advantage in going water-cooled.
If the motor is installed indoors then the cost of conditioning the air for that room will have to be taken into consideration, it will be generally cheeper to exhaust the heat losses outside. i.e. reducing the requirements of the Air Handling Unit for the room. In addition to this, if an air-cooled motor is located indoors, there is a risk of the exhausted air being drawn back in by the cooling fan, only exacerbating the problem of cooling.
In summary, UKPete is correct. The main reason why they have both quoted water-cooled is probably cost, but only due to the ambient temperature requirements of 45degC. (It would be interesting to know what the temperature of the cooling water is.) A 3MW motor with an eff. of 96% would mean losses in excess of 100kW, thats a lot of losses to deal with, hence another reason why manufacturers will quote water-cooled at this power rating.
Motors cooled with a water system who's temperature is considerably lower than the ambient air, will probably mean a smaller frame motor than that of an air cooled solution. Don't be put off by this method of cooling, water cooling is a very common practice, I am positive that both Siemens and ABB could provide you with an extensive reference list if you requested one.
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The VSD is of no consequence here as it is a fixed speed application.
The noise level should not be an issue with an air-cooled motor at a speed of 1800 rpm.
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I hope this was of some help to why they may have quoted water rather than air.
RMG