General Electric inks five-year gas turbine deal with China Huadian
19 Jan 2011
General Electric Co. (GE) yesterday signed a five-year deal with China Huadian Corporation to supply power generators that is expected to generate revenues of $500 million.
The five-year, joint collaboration agreement signed on the eve Chinese President Hu Jintao's visit to the US, will include at least 50 gas turbine generator sets that will be sold and installed in China.
The turbines will be used for combined heat and power projects in the country.
''This strategic agreement is a win for the American economy, American exports and American jobs,'' said Darryl Wilson, vice president-aeroderivative gas turbines for GE Power & Water.
''The agreement further represents another example of GE's continued commitment to investing in progressive solutions to meet the energy needs of the future and address environmental challenges throughout the world,'' he added.
The deal with Jinan, Shandong-based Huadian is part of GE's larger plan to penetrate a wider part of China after having agreed early this month to sell gas turbines to Jiangsu Tianue Energy & Chemical Group.