GE Gas Turbines to Provide Power for Sochi, Russia
o Latest Project Demonstrates Diverse Role Gas Turbines Play in Today's Energy World
o Abundance of Natural Gas, Favorable Gas Pricing Help Drive Demand for Gas Turbines
o Power Producers Seeking Flexible, Efficient Methods to Meet Electricity Demand
o GE Gas Turbines Surpass 300 Million Hours of Operation
SCHENECTADY, N.Y. - May 17, 2011 - GE (NYSE: GE) today announced it will supply two advanced technology aeroderivative gas turbines that will help to power the 2014 Winter Olympic Games in Sochi, Russia. The latest in a series of gas turbine orders received by GE in recent months, the project underscores a strong global demand for flexible, cost-effective and efficient electricity generation.
GE will supply two LMS100 PB aeroderivative units, featuring GE's latest emissions technology, to provide both base load and peak load power for the Olympics. A key benefit of the new technology: the units can start up in less than 10 minutes, about the time it takes to brew a pot of coffee.
This latest announcement showcases GE's leadership position in the global heavy-duty and aeroderivative gas turbine industry. GE currently has nearly 10,000 gas turbines in operation, and they recently surpassed a combined 300 million hours of global operation. GE's ability to rapidly deploy turbines in response to customer needs in key areas including China, Russia, Japan, Brazil, India and Africa is fueling demand.
Gas turbine plants can produce power ranging from 16-480 megawatts and run on a portfolio of flexible fuels, including natural gas, flare gas, mine gas and even landfill gas. GE is bringing this flexible, efficient technology to a range of clients, from hospitals to the Olympics, resulting in higher thermal efficiency and lower emissions compared to earlier technologies.
"As more gas discoveries are announced, and gas prices remain favorable, customers in many key areas of the world, such as Saudi Arabia, Brazil and Japan, are turning to gas-fired power plants to address their immediate and longer-term needs for cleaner, reliable power generation," said Steve Bolze, CEO of GE Power & Water. "With a legacy of more than half a century of gas turbine experience and technology development, GE remains committed to supplying high-technology solutions for our customers."
Year-to-Date Highlights
GE has announced several significant 2011 gas turbine projects, including:
o Secured contracts totaling more than $500 million, supplying 21 gas turbines and equipment for the expansions of four power plants in Saudi Arabia
o Supplying four gas turbines (generating approximately 450 megawatts) to Sravanthi Energy, a private power developer in India, for a new power plant in the Northern Indian city of Kashipur
o GE provided Aero TM2500 mobile generating units to help customers in Oman, Bangladesh and Japan meet emergency power needs
o Providing six heavy-duty gas turbines to help Japan meet its future power needs
o Supplying an Aero gas turbine-generator and steam turbine for Palmet Enerji's plant in Turkey
o Three Aero gas turbines are being supplied for a new plant in China, operating on industrial waste gas, turning a previously harmful gas into energy
o GE and China Huadian Corporation signed a joint collaboration agreement for distributed energy combined heat and power projects in China, supporting rapid growth across the country
o Aero reached milestone with the 1,000th GE LM6000 gas turbine shipped to Black Hills Corp.
About GE
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world's toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
GE also serves the energy sector by providing technology and service solutions that are based on a commitment to quality and innovation. The company continues to invest in new technology solutions and grow through strategic acquisitions to strengthen its local presence and better serve customers around the world. The businesses that comprise GE Energy www.ge.com/energy-GE Power & Water, GE Energy Services and GE Oil & Gas-work together with more than 90,000 global employees and 2010 revenues of $38 billion, to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; as well as other alternative fuels and new grid modernization technologies to meet 21st century energy needs.
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