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Released April 24, 2017 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Lower sales in its oil & gas and lighting businesses didn't dim the outlook for General Electric Company (NYSE:GE) (Fairfield, Connecticut), which saw a solid growth in orders for first-quarter 2017, driven by renewable and natural gas-fired, combined-cycle (NGCC) projects in North America. A merger with Baker Hughes Incorporated (NYSE:BHI) (Houston, Texas), expected to wrap up this year, will only add to GE's backlog. Industrial Info is tracking more than $49 billion in active projects involving GE and its GE Oil & Gas subsidiary.
GE's orders jumped 10% from first-quarter 2016 to $25.7 billion. Among its biggest wins was an order for Bechtel Group Incorporated (San Francisco, California), which is the engineering, procurement and construction (EPC) provider for Advanced Power AG's (Zug, Switzerland) $1.4 billion Cricket Valley Power Station in Dover Plains, New York. GE will provide three 200-megawatt (MW) F gas turbines, three 133.2-MW steam turbines, three heat-recovery steam generators (HRSG) and other equipment for the NGCC project, which is expected to generate about 1,000 MW in total. Construction is expected to begin toward the middle of this year. For more information, see Industrial Info's project report.
Bechtel also is at work on the $1.2 billion dismantlement and demolition of the existing Cricket Valley facility, which had been used for magnesium refining and tire production, among other purposes, to make way for the natural gas-fired plant. For more information, see Industrial Info's project report.
GE also announced it had received an order last month for a single-shaft engineered equipment package (EEP) to power EmberClear Corporation's (Calgary, Alberta) $550 million Birdsboro NGCC Power Station in Birdsboro, Pennsylvania. The package will include a 346-MW combustion turbine generator and a 142-MW steam turbine generator, for a total output of 488 MW. Kiewit Engineering & Design Company (Lenexa, Kansas) is performing EPC services. For more information, see Industrial Info's project report.
In addition to its wide swath of NGCC projects, GE has continued to boost its presence in the renewables market: Earlier this month, it announced it will supply Lincoln Clean Energy's (Austin, Texas) $500 million Willow Springs Windfarm near Wienert, Texas, with 100 of its 2.5-MW wind turbines, for a total output of 250 MW. GE also agreed to support the windfarm via a 20-year, extended full service agreement after it begins commercial operations. For more information, see Industrial Info's project report.
Jeffrey Bornstein, the chief financial officer and senior vice president of GE, detailed the quarter's project growth in an earnings-related conference call: "Power orders of $6.1 billion were up 8%, with equipment higher by 25% and services flat. Equipment growth of 25% was driven by Gas Power Systems, up 12%, and steam power systems, up almost 100%. Gas Power Systems was driven by higher [aerospace], up 20 units, and 10 more HRSGs versus last year." He added: "Steam power systems recorded orders totaling $591 million, up almost 100%."
GE's proposal to merge its oil and gas business with Baker Hughes (Houston, Texas) remains on track, and is now expected to close toward the middle of the year. Industrial Info is tracking $3.77 billion in active projects involving Baker Hughes, including Chevron Corporation's (NYSE:CVX) (San Ramon, California) $1.5 billion natural gas field subsea gathering system for the Wheatstone liquefied natural gas project in Western Australia. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at
GE's orders jumped 10% from first-quarter 2016 to $25.7 billion. Among its biggest wins was an order for Bechtel Group Incorporated (San Francisco, California), which is the engineering, procurement and construction (EPC) provider for Advanced Power AG's (Zug, Switzerland) $1.4 billion Cricket Valley Power Station in Dover Plains, New York. GE will provide three 200-megawatt (MW) F gas turbines, three 133.2-MW steam turbines, three heat-recovery steam generators (HRSG) and other equipment for the NGCC project, which is expected to generate about 1,000 MW in total. Construction is expected to begin toward the middle of this year. For more information, see Industrial Info's project report.
Bechtel also is at work on the $1.2 billion dismantlement and demolition of the existing Cricket Valley facility, which had been used for magnesium refining and tire production, among other purposes, to make way for the natural gas-fired plant. For more information, see Industrial Info's project report.
GE also announced it had received an order last month for a single-shaft engineered equipment package (EEP) to power EmberClear Corporation's (Calgary, Alberta) $550 million Birdsboro NGCC Power Station in Birdsboro, Pennsylvania. The package will include a 346-MW combustion turbine generator and a 142-MW steam turbine generator, for a total output of 488 MW. Kiewit Engineering & Design Company (Lenexa, Kansas) is performing EPC services. For more information, see Industrial Info's project report.
In addition to its wide swath of NGCC projects, GE has continued to boost its presence in the renewables market: Earlier this month, it announced it will supply Lincoln Clean Energy's (Austin, Texas) $500 million Willow Springs Windfarm near Wienert, Texas, with 100 of its 2.5-MW wind turbines, for a total output of 250 MW. GE also agreed to support the windfarm via a 20-year, extended full service agreement after it begins commercial operations. For more information, see Industrial Info's project report.
Jeffrey Bornstein, the chief financial officer and senior vice president of GE, detailed the quarter's project growth in an earnings-related conference call: "Power orders of $6.1 billion were up 8%, with equipment higher by 25% and services flat. Equipment growth of 25% was driven by Gas Power Systems, up 12%, and steam power systems, up almost 100%. Gas Power Systems was driven by higher [aerospace], up 20 units, and 10 more HRSGs versus last year." He added: "Steam power systems recorded orders totaling $591 million, up almost 100%."
GE's proposal to merge its oil and gas business with Baker Hughes (Houston, Texas) remains on track, and is now expected to close toward the middle of the year. Industrial Info is tracking $3.77 billion in active projects involving Baker Hughes, including Chevron Corporation's (NYSE:CVX) (San Ramon, California) $1.5 billion natural gas field subsea gathering system for the Wheatstone liquefied natural gas project in Western Australia. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at
