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Africa's Largest Self-Sufficient Solar Microgrid Project Created through Technologies from MAECI, GE and Princeton Power Systems

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Original Press Release

Africa's Largest Self-Sufficient Solar Microgrid Project Created through Technologies from MAECI, GE and Princeton Power Systems

Press release date: June 4, 2014

Annobon Province, Equatorial Guinea, to Install 5-MW Self-Sufficient Solar Microgrid
MAECI Solar Project includes GE and Princeton Power Systems Technology
Reliable, Predictable Power Enabled through GE Energy Storage
Solar Installation to Supply Electricity for 100 Percent of Annobon Province's Current Demand

SCHENECTADY, N.Y. — The government of Equatorial Guinea has selected MAECI Solar, a division of Management and Economic Consulting, Inc., in collaboration with GE Power & Water (NYSE: GE) and Princeton Power Systems, Inc., to install a 5-megawatt (MW) solar microgrid system on Annobon Province, an island off Equatorial Guinea in west central Africa. The solar microgrid will feature 5-MW solar modules and system integration by MAECI, an energy management system and controls from Princeton Power Systems and energy storage from GE. The island-wide microgrid will provide reliable, predictable power, supply enough electricity to handle 100 percent of the island's current energy demand and be the largest self-sufficient solar project on the continent of Africa.

"MAECI is fortunate to have witnessed firsthand the development of Equatorial Guinea over the past few years," said Chris Massaro, senior vice president, MAECI. "We are extremely excited to bring this solar microgrid solution to Annobon Island as well as support President Obiang Nguema's vision to raise the quality of life for the people and bring economic diversification to Equatorial Guinea. This project brings both. The Annobon Electrification Project will be the platform for economic growth on the island by bringing a much needed power supply that will enable the development of multiple industries, add 700 to 1,000 direct and indirect jobs to Annobon Island and significantly raise the standard of living."

Annobon Province has a population of approximately 5,000 residents. Today, the residents have reliable electricity for up to five hours per day and spend an average of 15-20 percent of their income on supplemental power. The solar microgrid in development will eliminate this expense entirely and provide reliable electricity 24 hours a day, seven days a week. The project is a part of Equatorial Guinea's National Economic Development Plan Horizon 2020, which aims to make Equatorial Guinea an "emerging economy" and accelerate its development and democratization by 2020.

"We're excited to be a part of this historic project for Annobon Province and Equatorial Guinea," said Jeff Wyatt, general manager of GE's solar and energy storage business. "GE's energy storage technology will help enable reliable, predictable power for the residents of Annobon through balancing the real-time supply and demand of solar and withstanding extreme heat environments without the need for air conditioning. This is an ideal technology for microgrids like Annobon Island."

The Annobon microgrid is enabled by the Princeton Power Systems' BIGI-250 energy management platform, the world's first three-port industrial-scale solar energy management system, with UL listing and thousands of operating hours in commercial applications since 2012. Princeton Power Systems has extensive prior experience working with GE's energy storage team. GE's batteries, in addition to providing superior high temperature performance and improved safety, offer environmental responsibility with non-toxic and recyclable materials and worldwide support.

"Today, over 1 billion people are without power. We are taking our experience in microgrids from Alcatraz Island, the U.S. Department of Defense and private sector customers to now apply it to improving quality of life for people in rural areas where grid power does not exist or is not reliable," said Ken McCauley, president and CEO, Princeton Power Systems. "We look forward to future global projects across the world to provide power to these areas to have hospitals, lighting and other basic human needs."

About Princeton Power Systems

Princeton Power Systems, based in New Jersey and founded in 2001, designs and manufactures state-of-the-art technology solutions for energy management, microgrid operations and electric vehicle charging. The company is a global leader working with customers and partners across North America, Europe, Africa and the Caribbean. It manufactures UL and CE-certified power electronics that are used in advanced battery operations and alternative energy, with built-in smart functions for ancillary services. The company solves power issues to allow continued growth of distributed renewable energy by providing energy storage solutions that are proven to work, even in harsh environments. Princeton Power Systems builds integrated systems and designs, commissions and operates microgrids for leading organizations, including Fortune 500 automakers and industrials and non-profit organizations. The company proudly manufactures its products in the United States. More information about Princeton Power Systems is available at www.princetonpower.com.

About MAECI

MAECI is an international consulting and project implementation firm that has formed very successful project partnerships, both as lead firm and as sub-consultant, with government ministries and departments, universities and colleges, non-governmental organizations and private sector companies more specifically in developing and emerging countries with strong emphasis in Western Central Africa and completed projects totaling in excess of $1 billion.

About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

About GE Power & Water

GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar; biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world's most complex challenges related to water availability and quality. Power & Water's six business units include Distributed Power, Nuclear Energy, Power Generation Products, Power Generation Services, Renewable Energy and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE's largest industrial business.

Follow GE Power & Water and GE's renewables business on Twitter @GE_PowerWater and @GErenewables.

Media contacts:

Lindsay Theile
GE Power & Water
Phone: +518-385-3194
Email: lindsay.theile@ge.com

Fal Dieso
Princeton Power Systems
Phone: +1 609-955-5390 x113
Email: press@princetonpower.com

Chris Massaro
MAECI
Phone: +1 610-975-5855
Email: cmassaro@maeci.org

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