· First Projects in the Country to Feature GE Advanced Technology
· Will Add 675 Megawatts to Expand Bangladesh's Power Generation Capacity
· Projects Build on GE's Growing Presence in the Region
DHAKA, BANGLADESH - GE (NYSE: GE) has received contracts totaling $89 million to supply Frame 9F 3-series gas turbines for two new power plants that will produce 675 megawatts of power to help expand Bangladesh's power generation capacity. The projects will be the first in the country to feature GE's advanced class gas turbine technology, delivering power with high efficiency, availability, reliability and low emissions.
GE will provide one 9F 3-series gas turbine and parts to Isolux Ingenieria SA of Spain, which is building the Siddirganj Power Plant for the Electricity Generation Company of Bangladesh Ltd. The second 9F 3-series gas turbine will go to Summit Corporation, an independent power producer that is building a new plant in Bibiyana, Bangladesh. GE, Isolux and Summit signed the contract today at a ceremony in Dhaka witnessed by GE Chairman Jeff Immelt, GE India CEO John Flannery along with Isolux Chairman Luis Delso, Summit Corporation Chairman Aziz Khan, U.S. Ambassador to Bangladesh Dan Mozena and Bangladesh government officials.
Immelt noted, "Bangladesh has witnessed consistent economic growth in the past few years. GE aims to provide support to its customers in Bangladesh by leveraging its technological expertise and help the government meet its objective and priorities that contribute to the overall economic development. These two projects are an indication of Bangladesh's accelerated growth that is accentuated by rapid urbanization; thereby increasing the demand for power. GE is committed to fostering innovations and technologies that build, power, move and help cure the world; this vision is an enabler that would help the people of Bangladesh live better lives."
"The Siddirganj project is a very important step in the government's initiative to increase Bangladesh's supply of reliable and efficient power," said Delso. "We believe that GE's advanced gas turbine technology, well proven in applications worldwide, is an excellent fit to ensure the success of this vital project."
"GE has an excellent track record of on-time delivery and strong technology support for projects around the globe. We have worked with GE on the Megnaghat project, and the turbines will start producing power by September 2013. We are confident that they are the right partner to help us successfully execute the Bibiyana II project," said Aziz Khan.
The Siddirganj plant will begin commercial operation in the fourth quarter of 2014, while the Bibiyana plant will enter service in the second quarter of 2015. The two plants support the government's plans to increase the country's electricity capacity from 8 to 20 gigawatts in the next 6-8 years. Currently, Bangladesh is only 50 percent electrified and has a 1.4-gigawatt deficit during periods of peak demand.
"The Siddirganj and Bibiyana II projects are critical steps in fulfilling the government's continuous commitment to bringing much needed reliable and affordable electricity to the people of Bangladesh. Working with GE's best-in-class technology will benefit the operators," said Dr. Tawfiq-e-Elahi Chowdhury, energy advisor to the Prime Minister.
Designed for 50-hertz applications, the GE Frame 9F 3-series advanced technology gas turbine delivers power with high efficiency, availability, reliability and low emissions. It provides the flexibility required today in many regions for power that can be rapidly adjusted to compensate for changes in renewable generation, demand or use. It provides the plant operator with choices to best meet fluctuating power demands and has accumulated 10.5 million operating hours worldwide.
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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. Numerous products are qualified under ecomagination, GE's commitment to providing innovative solutions that maximize resources, drive efficiencies and help make the world work better. Power & Water's seven business units include Aeroderivative Gas Turbines; Gas Engines; Nuclear Energy; Power Generation Services; Renewable Energy; Thermal Products and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE's largest industrial business.
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