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Press Release

GE Hydro to Upgrade Swiss Hydro Plant

February 24, 2003

OSLO, NORWAY (February 24, 2003) --- GE Hydro, a unit of GE Power Systems, has been awarded a US$26.8 million contract to upgrade Swiss power producer Ofible's plant in Biasca, Switzerland. The project marks the latest example of GE's continuing expansion into the European hydropower industry.
GE Hydro will supply six overhung two-jet, 50-megawatt Pelton turbines and three 333 rpm, 109 MVA generators producing 327 megawatts of power. The new equipment will replace eight overhung one-jet, Pelton turbines and four generators, which have been producing 288 megawatts.
Following the project, which also includes a total electrical-mechanical balance of plant upgrade, the 43-year old Swiss facility will generate more power with less equipment for end users in Switzerland and Italy. The upgrade also will improve powerhouse service and reduce maintenance costs.
"We are pleased to have been selected by Ofible in a country where quality and cost effectiveness are key criteria for contract awards," said Per Simonsson, GE Hydro's regional sales director for Europe.
Laurent Minelli, Vice President, Technical Director for Olfina stated, "We worked very closely with GE Hydro to develop the most efficient solution, in terms of both time and cost, for upgrading the plant to a technical condition where it can run reliably for the next 40 years."
The new equipment will be configured into three units, each with two turbines and one generator. These units will replace the previous four-unit configuration, with an overall increase in power production of two percent. An older unit will be retained as a backup in order to maintain power levels when one of the new units is taken offline for maintenance.
The first generator and turbine unit will go online in April of 2004, with the remaining units scheduled to be in service by April of 2005 and April of 2006, respectively.
Construction is planned for the winter months of each year when the water flow is the lowest and less equipment is needed to generate full power to ensure no loss of operating capacity. Turbine model tests will be conducted to confirm that performance targets will be met or exceeded by GE Hydro's design.
Ofible (Officine Idroelettriche di Blenio SA) based in Locarno, Switzerland, began generating hydro-electricity at its plant in Biasca in 1960. Operating hours ca. 3.600 hour/year and Biasca produce 700 GWh/year. Ofima and Ofible, located in southern Switzerland, provides 12% of the hydropower in Switzerland through the combined ownership of eight power plants. These plants are comprised of 28 generating units and represent an installed power base of 970 MW.
GE Hydro, headquartered in Oslo, Norway, is a world leader in the supply of turbines, generators, and water systems for the hydropower and water control industries. Capabilities include complete water to wire solutions for new plants and refurbishment and service for existing plants.
About GE Power Systems
GE Power Systems (www.gepower.com) is one of the world's leading suppliers of power generation technology, energy services and management systems with 2002 revenues of nearly $23 billion. Based in Atlanta, Georgia, GE Power Systems provides equipment, services and management solutions across the power generation, oil and gas, distributed power and energy rental industries.


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