o GE's Recent MoU with Vietnam Leads to First Direct Contract With National Power Transmission Corporation
o New Capacitor Banks To Deliver Higher Efficiency By Increasing Capacity of Existing Power Line Infrastructure
HANOI, VIETNAM - August 11, 2011 - GE (NYSE: GE) is helping power Vietnam's economic growth with new custom-designed fixed series capacitor banks. The new technology will improve energy reliability and efficiency for Power Transmission Company No. 2 (PTC2), a key subsidiary of National Power Transmission Corporation (NPT) and state utility Electricity of Vietnam (EVN). The systems also will increase the power transfer capability of PTC2's current transmission lines, helping engineers better control voltages and better manage increasing energy demand.
Vietnam is forecasting a 7.5 percent to 8 percent annual economic growth over the next five years; a healthy power infrastructure is vital to supporting that growth. To help meet that goal, GE signed a memorandum of understanding (MoU) with NPT in March of this year that called for both companies to work together to increase Vietnam's power transmission efficiency and expertise and reduce the risk of power shortages. As part of the MoU, GE was certified as an approved supplier of equipment to NPT and will establish training workshops to share its global experiences and expertise in the repair and selection of equipment for NPT's transmission activities.
"PTC2 has been using similar substation equipment supplied by GE's local engineering, procurement contractor for the past 15 years," said Nguyen Manh Hung, president and CEO of NPT. "This collaboration is a testament of our continuous trust in GE's advanced technology and engineering capabilities. The new capacitor banks will help us deliver more energy without costly upgrades all along our power supply chain. By improving quality and safety while reducing the amount of energy wasted on power lines, we're helping Vietnamese companies increase their competitiveness in the world marketplace."
The function of the Fixed Series Compensation system and its capacitors in a power grid is to improve efficiency by minimizing electrical losses and increase the overall transfer capability of the transmission system. GE's extensive series compensation experience extends over more than seven decades from the initial supply of the first series capacitor installation in the United States for NY Power & Light in 1928. Since then, GE has continued to provide utilities worldwide with reliable systems to increase power transfer and improve stability.
"GE is proud to have signed our first direct contract with NPT," said Ramesh Singaram, regional general manager of GE Energy Services Asia Pacific. "GE is committed to working closely with customers in Vietnam through collaboration and knowledge sharing. Our technology and resources will help this growing economy to improve the overall quality of living. This contract marks another milestone in GE's growing collaboration with utilities in Vietnam to help upgrade their existing infrastructures."
The contract was jointly signed on May 12, 2011, in the city of Danang, Vietnam. GE is designing, supplying, supervising installation, testing and commissioning the new capacitor banks. The capacitors are scheduled for delivery in the fourth quarter of this year.
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-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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Masto Public Relations
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Masto Public Relations
Phone: + 1 518 786 6488