Doosan & Alstom Acquisitions Help Secure GE's Total Power Island Order in Asia

GE’s power island will literally power an island – Jeju Island that is! GE Power, a division of GE (NYSE: GE), today announced the first order of its power plant island solution in Asia – an offering enabled by GE’s acquisition of Alstom – and the first global use of heat recovery steam generator (HRSG) technology acquired through GE’s purchase of Doosan’s Engineering & Construction HRSG business, which closed last month. Under the $140 million contract with Korea Midland Power Company (KOMIPO), GE’s combined cycle power plant solution will include the full suite of equipment, controls and maintenance parts for the 250 megawatts (MW) combined cycle power plant located in Jeju Island, Korea.

“This first power island scope project in Asia is a milestone for GE, and it demonstrates the significant added customer value and expanded capabilities we can provide thanks to GE’s acquisition of both Alstom and Doosan HRSG,” said Mr. Woonsik Ha, president and CEO of GE Power in Korea. “We just closed on the Doosan HRSG transaction in August, and we already are seeing the tremendous benefits. It is fitting that this first order is taking place in the country of the HRSG deal’s origin.”

GE will provide two 6F.03 gas turbines, steam turbines and HRSGs, in addition to four generators. This total power island scope utilizes some of the most advanced technology available today and showcases the advantages of technology integration that the HRSGs provides. GE’s HRSG units are cost-effectively designed to allow owners to reduce the cost of electricity, boost performance, increase reliability, reduce emissions and enhance flexibility. When complete in 2017, this will be the largest and most efficient power plant on Jeju Island, which is the largest tourism attraction in South Korea. The plant’s 250MW output is equivalent to what would be needed to supply about 600,000 Korean homes.

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Source: General Electric (GE)
Date: Sep 20, 2016