Israel Electric Corporation Signs Multiyear Services Agreement with GE to Help Enhance Country's Energy Supply Security

In a move to help enhance the country’s long-term energy supply security, Israel Electric Corporation, Ltd. (IEC), Israel’s main electric utility, and GE’s Power Services business (NYSE: GE) today announced a new multiyear services agreement in which GE will support the long-term availability of its three 9FA gas turbines at IEC’s Eshkol Power Station, Tzafit Power Station and Alon Tavor Power Station.
Paul McElhinney, president and CEO of GE’s Power Services business, today met with IEC and other GE executives in a formal signing ceremony for the multiyear agreement at IEC’s headquarters in Haifa. The new deal follows a previous 13-year multiyear agreement between IEC and GE for the three stations. The new pact goes into effect when the old service agreement expires in 2017. The agreement covers parts, repair and technical advisory services for planned outages for the three 9FA units.
GE’s McElhinney said, “GE is delighted to continue our close working relationship with IEC by implementing this multiyear agreement and maintaining IEC’s three power plants. We are proud to help IEC work to increase the country’s long-term energy supply by improving the reliability and availability of its existing 9FA gas turbine fleet.”

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Source: General Electric (GE)
Date: Sep 7, 2016