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GE gets $1.9B order for gas turbines

GE gets $1.9B order for gas turbines

General Electric’s Power & Water unit in Schenectady announced a $1.9 billion deal Friday to supply

General Electric’s Power & Water unit in Schenectady announced a $1.9 billion deal Friday to supply the Egyptian government with enough gas turbines to power more than 2.5 million homes.

GE will supply a total 46 turbines — 34 aeroderivative gas turbines and 12 heavy-duty gas turbines — that should start delivering power as soon as May, in time to meet summer electricity demand. Gas turbines are not produced in Schenectady. The turbines will create 2.683 gigawatts of electricity, enough to power more than 2.5 million homes.

The contracts announced Friday at the Egypt Economic Development Conference were signed in December. Within hours of the signing, GE dispatched its advanced gas turbine technology to construction sites across Egypt.

“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,” said Steve Bolze, president and CEO of GE’s Power & Water unit, in a news release. “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.”

It’s unclear where the turbines will be built. The company manufactures some of its gas turbines in Greenville, South Carolina. GE’s Schenectady campus manufactures steam turbines and generators. A company official could not be reached for comment Friday.

GE has worked with Egypt for 40 years. The company’s advanced gas turbines currently help generate more than 9.5 gigawatts of electricity in the country — roughly 30 percent of the total installed capacity in the country right now.

Egypt needs to nearly double its current power generating capacity up to 50 gigawatts by 2025, according to the Oxford Business Group, a research and consultancy firm that publishes investment and economic reports on more than 30 emerging markets around the world.

GE is also investing about $200 million in a manufacturing and training facility in the country’s Suez City that will manufacture products in power generation, renewables, water, oil and gas, aviation and rail transport. About 500 jobs will be created in the next three to five years, the company announced Friday.

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