GE & Caithness Announce Innovative Power Deal that Could Exceed $1B to Build Multiple HA Combined-Cycle
Power Plants in US
- Will utilize GE’s industry-leading power island technology including up to six HA gas turbines for
3 GW
- Caithness Energy expected to become owner of largest fleet of HA gas turbines
GE (NYSE: GE) and Caithness Energy today announced an exclusive agreement with the intent to pursue development of multiple new
HA combined-cycle power plants in the United States. The equipment package that GE will deliver as part of the agreement has a
total value that could exceed $1 billion. The package is configured to include up to six high-efficiency HA gas turbines, six steam
turbines, six heat recovery steam generators and other equipment - known as the power island. The agreement is expected to be
effective March 31, and the plants are projected to be developed throughout 2017 and 2018.
“We’re thrilled to continue our longstanding relationship with GE and expand our fleet of HA power plants across the United
States,” said Les Gelber, president, Caithness Energy. “We’re currently working to bring a new HA plant on line in Pennsylvania in
2018, and with this exclusive agreement Caithness will become the owner of the largest fleet of HA gas turbines – GE’s most
efficient turbine - anywhere in the world.”
The HA gas turbines included in the agreement will be manufactured at GE’s Greenville, SC facility, and the steam turbines will
be built at GE’s Schenectady, NY facility. In addition to the equipment, GE expects to provide multi-year service agreements for
the continued maintenance and operation of each plant. GE expects to record the orders for the equipment and services over the next
24 months.
“GE’s HA and power island technology continue to be two of our greatest competitive advantages, winning business and delivering
for our customers,” said Steve Bolze, president and CEO, GE Power. “Our strategic relationship with Caithness, a long-time partner,
proves that the market continues to want more flexible and efficient technology that can help make power more affordable, reliable,
accessible and sustainable.”
This agreement will add to Caithness’s growing fleet of HA gas turbines --bringing its total number to up to eight turbines. Two
HA gas turbines are included in a new power plant being built by Caithness Energy and Moxie Energy in Salem Township in Luzerne
County, Pennsylvania. The Caithness Moxie Freedom generation plant - a 1,029 megawatt facility - will tap natural gas from the
Marcellus Formation. It will generate the equivalent electricity needed to power approximately 1 million American homes when the
plant comes online in 2018.
The HA is GE’s largest and most efficient gas turbine. In June of 2016, GE was recognized for powering the world's most efficient combined-cycle power plant with its HA technology, which today delivers even greater
efficiency. The HA technology that will be delivered to Caithness will enable greater than 63% net plant efficiency on a standard
condition basis. GE’s HA technology also offers industry-leading flexibility - capable of delivering full power to the grid in
under 30 minutes – enabling power generators to maintain stable power production and reliably accommodate grid variations through
quick start up, rapid load changes and other features. GE’s HA gas turbines are the fastest growing fleet of gas turbines in the
world with 58 units ordered to date.
About GE Power
GE Power is a world leader in power generation with deep domain expertise to help customers deliver electricity from a wide
spectrum of fuel sources. We are transforming the electricity industry with the digital power plant, the world’s largest and most
efficient gas turbine, full balance of plant, upgrade and service solutions as well as our data-leveraging software. Our innovative
technologies and digital offerings help make power more affordable, reliable, accessible and sustainable.
For more information, visit the company's website at www.gepower.com. Follow GE Power on Twitter @GE_Power and on LinkedIn at GE Power.
About GE
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that
are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each
business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and
application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers
by speaking the language of industry. www.ge.com
GE Power
Katie Jackson, +1-518-385-5976
Katie.Jackson@ge.com
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