GE Securites $1 Billion Contract In Algeria
Atlanta-based GE Energy announced Tuesday a $1 billion deal to upgrade Algeria’s gas-fueled power plants.
The sale allows Sonelgaz, the North African country’s state-owned gas company, to boost electricity production at 13 power plants nationwide. The services contract, which could top $1 billion, will also improve the efficiency and reliability of 51 gas turbines installed at those plants.
As Algeria’s economy grows, so too do its energy needs. Two years ago, according to the Ministry of Energy and Mining, the country’s electricity generating capacity reached 7,077 megawatts. By 2010, it should rise to 14,000 megawatts.
“Energy companies around the globe are working to get the maximum efficiency out of their existing power plants,” Luis Ramírez, general manager of contractual services for GE Energy, said in a statement. “As they break ground on new projects they are also implementing service agreements to make the most of their investment.”