GE partners with Egyptian government to supply advanced gas turbines to generate 2.6 GW by summer 2015
March 16, 2015
- Marks contracts to support ‘Egyptian Power Boost Program’ that will add 2.6 GW of electricity to meet peak summer demand
- Also planning to invest in additional projects worth 6000 MW
- Chairman & CEO Jeffrey Immelt highlights Egypt’s potential to be a global hub linking resource-rich Africa and the Middle East with the rest of the world at panel discussion
Sharm El Sheikh, Egypt; March 13, 2015: GE (NYSE: GE) today announced that it is on schedule to support Egypt’s power grid with 2.6 gigawatts (GW) by summer 2015. To date, more than 70 percent of the advanced gas turbines have arrived on the ground. During the projects’ execution across multiple sites approximately 6,000 direct and indirect jobs have been created in Egypt’s power sector.
With a focus on providing advanced technologies that bring greater efficiencies and touch people’s lives, GE is supporting the ‘Egyptian Power Boost Program,’ by helping generate the 2.6 GW of electricity, equivalent to the power needed for 2.5 million homes, which will enter the grid in May 2015, in time to meeting the high demand for electricity during the summer months.
GE’s Chairman & CEO Jeffrey Immelt said: “The government is creating a positive environment for businesses through the removal of trade barriers, while the private sector brings in the entrepreneurial spirit to build a whole new value chain of small and medium enterprises. Working together, the public and private sector can support Egypt’s transformation as a global hub that links resource-rich Africa and the Middle East with the rest of the world.”
Immelt, who will also address a panel discussion at the Egypt Economic Development Conference on Saturday, said “Today, countries that succeed are those that can get in front of the trends, innovate, work together and deliver results. Egypt is moving with speed and scale, and reimagining a future centered on its people.”
At the Conference, GE will also highlight its new partnerships in Egypt, and the progress it has achieved across key sectors of the country.
According to estimates, 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. This is being addressed by the ‘Egyptian Power Boost Program.’
In consortium with Orascom to build two power plants, GE P&W’s Power Generation Products business will provide 12 9E heavy-duty gas turbines that will generate a total of 1,495 megawatts.
GE’s Distributed Power will provide the 34 aeroderivative gas turbines - 14 LM6000 and 20 TM2500+ aeroderivative gas turbines will generate 1197 megawatts- enabling the generation of on-site electricity. The site locations have been confirmed and GE is working with its partners on installation and commissioning.
To date, 34 turbines from a total of number of 46 turbines have arrived to Egypt, of which 26 are already on site (10 9E turbines, 8 LM6000 and 8 TM2500+). The speed element in this project reflects GE’s persistence to deliver on its commitment of bringing 2.6 GW of power on the grid by the summer of 2015.
GE’s advanced gas turbines already help generate more than 9.5 gigawatts of electricity, nearly 30 percent of the country’s total installed capacity. As additional projects are developed, GE plans to offer both innovative technology and financing. This includes a focus on combined cycle gas turbines and renewables.
With its country headquarters in Cairo, GE today has over 400 employees in the country.
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