GE Energy Signs $3bn in Contracts
GE Energy has announced more than $3 billion in new customer agreements across its business, including waste-heat recovery, wind turbines, water treatment and a manufacturing efficiency contract with Anheuser-Busch InBev.
GE signed a new partnership with global brewer AB InBev, the first such agreement for GE Energy in the food and beverage sector. The partnership will develop manufacturing solutions for energy efficiency and water savings in more than 35 existing and planned Anheuser-Busch InBev facilities across China (see separate article).
GE said the $3 billion in contracts include a number of ‚Äúfirsts‚ÄĚ and key milestones:
GE secured more than $800 million in new commitments to supply wind and gas turbines for projects in Brazil that will produce 1.4 gigawatts of electricity ‚ÄĒ 40 percent of the total amount awarded in energy auctions recently by Brazil‚Äôs National Electric Power Agency. GE won commitments for its 1.6 wind turbine technology that will provide at least 378 megawatts of power.
–This contributes to more than $1.5 billion in new commitments for the 1.6-100 wind turbine. New deals for 750 turbines have been signed bringing the total number of units to 1,248, which will be put into wind farms in North and South America over the next two years
–In GE‚Äôs first joint deployment of Waukesha engine technology and Jenbacher Gas Engines, GE will provide on-site power and water treatment solutions for Queensland Gas Company‚Äôs (QGC) major Australian coal seam gas-to-LNG project. The engines will generate reliable, on-site power for GE‚Äôs advanced membrane and thermal water treatment technologies. QGC is developing the world‚Äôs first LNG project based on gas from coal seams.
–In Italy, GE is combining waste heat recovery technology and gas engines in the largest project to date featuring newly acquired technology from Calnetix Power Solutions. In a $50 million project, Gruppo AB, a European combined heat and power project developer, plans to deploy GE‚Äôs Jenbacher gas engines and Clean Cycle waste-heat recovery modules as a packaged solution. The primary source of fuel for the new package is biogas from manure, corn and other crops.
–GE is helping Ecuador modernize its energy grid with the largest smart grid project in Latin America. The 25,000 smart meters that will be installed across the country by Electrica de Guayaquil (EDG) mark the second phase of a complete overhaul of the country‚Äôs meters, which will eventually replace nearly 200,000 meters nationwide.
–In Canada, where oil sands are growing in importance as a source of fuel, Grizzly Oil Sands ULC‚Äôs Algar Lake project near Fort McMurray, Alberta, Canada, is one of three recent projects to choose GE‚Äôs patented evaporative technology to treat and recycle its wastewater. GE‚Äôs produced water evaporation process will recycle 97 percent of the wastewater and the company says it is the only method that is commercially proven to achieve complete water recycling. It dramatically reduces freshwater requirements and also offers lower total capital and operating costs, GE says.
The company has also announced agreements to supply oil drilling and production equipment, gas turbines, and equipment for enhanced oil recovery in Brazil, Egypt and Iraq.
Yesterday GE said it is targeting 10 percent earnings growth and expects revenue at its energy unit to rise at least 8 percent in 2012, Reuters reported. The company expects the unit to record an operating profit of about $7 billion this year, down from $7.3 billion in 2010.
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