Posted on 10/08/2007 12:55:23 PM PDT by BenLurkin
PARIS, Oct 8 (Reuters) - French state-controlled electricity utility EDF (EDF.PA: Quote, Profile, Research) will order at least six gas turbines and associated services from GE Energy (GE.N: Quote, Profile, Research) for more than 530 million euros, equivalent to $750 million, the U.S. group said in a statement on Monday.
"In addition to the contracts announced today, EDF has signed options to purchase additional gas turbines and services from GE. If those options are exercised, the total value of EDF's agreements with GE could exceed EUR 900 million ($1.2 billion)," the statement said.
It said the initial six turbines would be installed at unnamed power plants in France and "some European subsidiaries".
So France will be burning fossil fuels for electricity?
Gas into electricity if I’m reading this correctly.
Oh like natural gas...duh.
Does Japan own this part of GE?
I don’t think so:
General Electric Company (GE) is a diversified industrial corporation.
Its Infrastructure segment produces jet engines, turboprop and turbo shaft engines, and related replacement parts for use in military and commercial aircraft; wind turbines; aircraft engine derivatives; gas and steam turbines, and generators; oil and natural gas compressors and turbines; diesel-electric locomotives and parts; and productivity solutions for industrial and municipal water systems. It offers various financial products and services aviation and energy sectors.
The company’s Commercial Finance segment provides loans, leases, and other financial services to manufacturers, distributors, and end-users for various equipment and capital assets.
Its GE Money segment offers credit cards, loans, mortgages, and deposit and savings products to consumers and retailers.
GE’s Healthcare segment manufactures equipment for magnetic resonance, computed tomography, positron emission tomography imaging, X-ray, patient monitoring, diagnostic cardiology, nuclear imaging, ultrasound, bone densitometry, anesthesiology and oxygen therapy, and neonatal and critical care and therapy.
Its NBC Universal segment provides network television services; produces television programs and motion pictures; operates television broadcasting stations; owns various cable/satellite networks; and operates theme parks.
GE’s Industrial segment offers home appliances; lamp products; electrical distribution and control products; motors and control systems used in end-industrial and consumer products; commercial lighting systems; protection and productivity solutions; handheld and portable field calibrators; equipment for detection of material defects; stand-alone measurement instrumentation; and systems for validating or certifying commercial and industrial processes.
The company has a strategic partnership with China Life Insurance (group) Company Limited.
GE was founded in 1892 and is headquartered in Fairfield, Connecticut.
source: http://finance.yahoo.com/q/pr?s=GE
SC ping if this goes to the GE Gas Turbine plant in GVL.
Typically big combustion turbine generators like these are used to provide peaking power, while nuclear plants and coal plants are used to provide base load power.
See post #11 for the correct analysis, adding that it is difficult to load follow using pressurized water reactors (PWRs) like the French use, so other types of generation is needed for peaking.
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