GE inks $700M contract with Saudi utility

Staff Report
gsanews@scbiznews.com
Published Nov. 26, 2013

General Electric Co. said Tuesday it signed a nearly $700 million contract with Saudi Electricity Co. to bring additional combined-cycle gas turbines and related equipment and services to the Kingdom of Saudi Arabia.

The order includes combined-cycle gas turbines manufactured at GE’s facility in Greenville, along with steam turbines and generators built in Schenectady, N.Y. The contract also includes two service agreements covering planned maintenance on the units for a fixed period of eight years.

GE’s technology will support Saudi Electric Co.’s large, combined-cycle power plants to generate more than 3.8 gigawatts of power.

“We chose GE once again for our largest project because of their advanced technology, which features proven efficiency performance,” Saudi Electric President and CEO Ali Albarrak said in a news release. “In addition, GE technology has the ability to respond to dramatic daily changes in power demand while maintaining high levels of fuel efficiency in line with the growing power resource needs of our country.”

Today, GE equipment assists in the generation of more than half of Saudi Arabia’s power supply, with more than 500 gas turbines installed in the kingdom, according to a news release. The company operates in approximately 40 Saudi Electric power plants.

Shipment of GE’s equipment under the latest contract is expected to begin at the beginning of 2015.

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