SCHENECTADY, N.Y.--(BUSINESS WIRE)--GE Energy (NYSE: GE) expects to invest roughly $50 million to increase supply chain and engineering capacity and will more than double its global capabilities to meet steam turbine demand around the world, company officials announced today. Output will be expanded across GE's steam turbine production and engineering centers in North America, Europe and Asia.
Much of the current demand for steam turbines is being driven by the strong global interest in combined-cycle power generation plants. Since the first of this year, GE has received orders totaling more than $2 billion to supply equipment for combined-cycle projects in Europe and the Middle East.
"Although a full range of technology options is required to meet the world's growing electricity needs, steam turbines remain a backbone of the energy industry, playing a part in generating more than 80% of the world's energy," said Larry Blystone, Vice President, Global Supply for GE Energy.
GE also is seeing demands worldwide for steam turbines to power cleaner coal and solar thermal projects, and is anticipating a potential increase in demand for large steam turbines for nuclear power projects as that sector of the energy industry continues to generate renewed interest.
With more than 5,600 steam turbines installed or on order, totaling more than 570 gigawatts of experience, GE is a world leader in the design, development and application of steam turbine technology.
About GE Energy
GE Energy (www.ge.com/energy) is one of the world's leading suppliers of power generation and energy delivery technologies, with 2006 revenue of $19 billion. Based in Atlanta, Georgia, GE Energy works in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels. Numerous GE Energy products are certified under ecomagination, GE's corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.
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