GE Signs $128 Million Service Agreements for Two Chinese Power Projects Including the Largest Gas Turbine Combined-Cycle Plant in Zhejiang Province

Business Wire, March 03, 2009

GE Energy Also Awarded First Contractual Service Agreement for a 9E Gas Turbine in China

ATLANTA -- To assist China in meeting its goals of increased energy efficiency and reduced emissions, GE Energy recently signed service and maintenance agreements totaling $128 million for two power plants, including the largest gas turbine combined-cycle power plant in the Zhejiang Province.

GE Energy will provide inspections and service for two GE 9FA gas turbines at the Zhejiang Zheneng Zhenhai Power Plant in Ningbo. The plant, which is the biggest gas turbine combined-cycle plant in the Zhejiang Province, has an electricity output of 795.6 megawatts.

GE also has a long-term contractual service agreement (CSA) with the Fujian Refining & Petrochemical Company to handle all parts, repairs and service for two GE 9Es at the company’s site in Quanzhou, Fujian Province. This represents China’s first CSA for 9E gas turbines. The project uses integrated gasification combined cycle technology and generates power from exhaust gases in the refining process. The Fujian facility operates a refinery with a capacity of four million tons per year. Fujian Refining & Petrochemical Company is China’s largest joint venture in the refining and petrochemical industry.

Both CSAs will ensure that the GE 9FAs and the 9Es are run in a safe, reliable and timely manner with a planned maintenance schedule to avoid unexpected failures.

“GE has provided world-leading technology and equipment in China over decades. We are proud to continue this support to help China meet its energy demands and increase efficiency,” said Jack Wen, president and CEO of GE Energy China. “These CSAs represent the latest in a series of service and maintenance agreements designed to improve efficiency, output and reliability of our gas turbines at Fujian and Zhejiang Zheneng Zhenhai‘s power plants.”

GE currently is managing CSAs for customers at more than 700 sites covering 2,000 turbines worldwide. Benefits to the customers include performance guarantees, predictable maintenance costs and access to GE’s technology and global experience.

GE Energy has been active in China for nearly a century and has provided the country with a wide range of products including more than 270 gas turbines, 70 steam turbines, more than 300 hydro turbines and more than 600 wind turbines. GE also has obtained 37 licenses for gasification technology projects in the country.

GE Energy has six manufacturing sites in China, based in Shenyang, Shanghai, Qinhungdao and Hangzhou. In addition to products, GE Energy provides engineering and service solutions to help Chinese customers improve the reliability and availability of their energy production and transmission assets.

About GE Energy

GE Energy (www.ge.com/energy) is one of the world’s leading suppliers of power generation and energy delivery technologies, with 2008 revenue of $29.3 billion. Based in Atlanta, Georgia, GE Energy works in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels. Numerous GE Energy products are certified under ecomagination, GE’s corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.

About GE

GE is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com. GE is Imagination at Work.