Today, at the Egypt Economic Development Conference, GE (NYSE:GE)
announced signed major contracts with the government of Egypt to deliver
2.683 gigawatts (GW) of electricity, which is equivalent to the energy
needed to power more than 2.5 million homes. GE will be supplying a
total of 46 turbines: 34 aeroderivative gas turbines and 12 heavy-duty
gas turbines, which will start delivering power as soon as May 2015. The
announced contracts were signed in December of 2014 and construction is
currently underway.
“We are building on our 40 years of supporting Egypt and proud to be
bringing 2.6 GW of critical, multi-modal power in support of the
Egyptian Power Boost Program,” said Steve Bolze, president & CEO of GE
Power & Water. “From signing to service in five months, this project
demonstrates our capabilities and confidence in delivering on projects
of this size and at this speed, as we did in Algeria and other parts of
the region. We are making great progress in Egypt on the build out, and
it will be one of the fastest project executions of this scale in our
history.”
In December 2014, within hours of signing contracts with the government
of Egypt, GE dispatched its advanced gas turbine technology to
construction sites across Egypt. Currently, GE’s advanced gas turbines
help generate more than 9.5 GW of electricity in Egypt, nearly 30
percent of the country’s total installed capacity.
According to the Oxford Business Group, Egypt’s power generating
capacity must be scaled up to 50 GW by 2025, nearly double the capacity
today, with demand growing at an annual 10 to 12 percent. By selecting
GE to partner in the “Egyptian Power Boost Program,” the government of
Egypt will soon have the most flexible power equipment anywhere,
operating on gas or diesel and with the ability to switch fuels while in
operation. The additional power is expected to start to deliver power in
May, in time to help meet the soaring demand for electricity during the
summer months.
For more information on GE’s activities in Egypt, please visit https://www.gepower.com/egypt.
About GE
GE (NYSE:GE) imagines things others don’t, builds things others can’t
and delivers outcomes that make the world work better. GE brings
together the physical and digital worlds in ways no other company can.
In its labs and factories and on the ground with customers, GE is
inventing the next industrial era to move, power, build and cure the
world. 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 on Twitter @GE_PowerWater
and on LinkedIn.
Copyright Business Wire 2015