General Electric Wins $2.7 Billion in Contracts from Algeria's Sonelgaz

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Researched by Industrial Info Resources (Sugar Land, Texas)--General Electric (NYSE:GE) (Fairfield, Connecticut) won $2.7 billion in contracts from a unit of Sonelgaz, which is Algeria's national electricity and gas company. In a statement, GE said it will supply combined-cycle and aeroderivative gas-turbine technology for nine power plants in Algeria, adding almost 9 gigawatts (GW) of electricity to respond to rising Algerian energy demand. At present, the country's energy demand grows at an annual rate of 14%.

The plants will produce more than 8 GW of electricity, enough to help 8 million Algerian households and increase the country's energy capacity by 70%. "Our latest agreements with Sonelgaz underscore our continuing commitment to supply the best technology and services to assist Algeria in meeting its growing energy needs," said Steve Bolze, the head of GE Power and Water.

Algeria also ordered $150 million of power generation equipment for 370 megawatts of power at a new plant. The nine Sonelgaz power plants receiving the GE technology are located in northern Algeria and will begin simple-cycle duty in 2015 and combined-cycle operations in 2017.

Additionally, GE announced the plan for a long-term joint venture with Sonelgaz for the development of a new production facility in Algeria. The facility eventually will produce more than 2 GW of power generation equipment per year.

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