GE (NYSE: GE) aeroderivative gas turbine technology has been selected for one of the first projects in Myanmar since the U.S. government recently lifted sanctions on U.S. investment in the country. A fast-track project, the new natural gas-fired power plant facility will enter commercial service no later than the second quarter of 2013 and will produce about 100 megawatts to help meet Myanmar’s rapidly growing power requirements.
The project announced today further expands GE’s role in helping Myanmar develop its infrastructure to support a growing society. GE Healthcare and GE Capital Aviation Services Limited also have announced other initiatives in Myanmar earlier this year.
GE will supply two LM6000-PC Sprint aeroderivative gas turbine-generators and technical advisory services for the plant, located in Alhone Township, Yangon City, Myanmar. Independent power producer TOYO Thai Power Corp. in Singapore (TTPSG) is the owner/operator of the plant and will sell the power to Myanmar’s Ministry of Electric Power.
“Myanmar has abundant energy resources, most notably hydropower and natural gas, which can be tapped for power generation and oil and gas exploration,” said Hironobu Iriya, president & CEO of TTPSG. “Due to the availability of natural gas, we expect that gas-fired combined-cycle projects will play an increasingly important role in increasing Myanmar’s power supply to support the country’s urgent need for more power.”Myanmar is planning to add 450 megawatts of gas-based capacity as part of an initiative to double the country’s installed electricity capacity by 2015. Currently, more than 20 percent of the country’s installed capacity is natural gas-based power generation. “Gas-fired combined-cycle power plants can be delivered and installed to meet tight project schedules making this technology an excellent fit for addressing Myanmar’s immediate electricity requirements,” said Darryl Wilson, president and CEO—aeroderivative gas turbines for GE Power & Water. “In addition, the reliability and overall performance of these plants have been proven in thousands of applications worldwide.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV