- U.S. Secretary of State Hillary Rodham Clinton Witnessed Contract Signing Ceremony
- GE's Advanced Fuseless Technology Enables Efficient Power Transmission to Regions in Need
- Shipping of Capacitors to Begin in 2Q 2013
- Financing by U.S. Export-Import Bank
HANOI, VIETNAM ---July 10, 2012--- General Electric (NYSE: GE) signed today an equipment supply contract worth USD16.5 million with the Power Transmission Company No. 4 (PTC4), a subsidiary of the National Power Transmission Corporation, to double Vietnam's existing power capacity through upgrading of the country's national backbone transmission system.
GE's series capacitor banks will be installed as part of the upgrade of the 500-kV Pleiku--Phu Lam transmission line to increase power capacity from 1,000 amps to 2,000 amps.
U.S. Secretary of State Hillary Rodham Clinton witnessed the signing of the contract in Hanoi.
"The 500kV Pleiku-Phu Lam transmission line, which is 500-km in length, is the backbone of Vietnam's North-to-South power transmission. Increasing the capacity of the line to transmit power across the country more efficiently will enable EVN to mobilize generation sources to more effectively meet power demand, which varies from region to region. When come in operation in 2013, the project is expected to supply approximately 800 MW to the Southern area." said Dang Phan Tuong, Chairman of the Board of Management of NPT.
GE Energy Asia Pacific President Kenji Uenishi said, "We are delighted with this opportunity to assist Vietnam meet its power needs. A healthy power infrastructure is vital to supporting economic growth. GE's advanced equipment, services and partnership with local corporations will enable Vietnam to manage power needs more efficiently in line with efforts to enhance current infrastructure."
Under the terms of the contract, GE will supply six series capacitor banks to NPT and provide on-site supervision for installation testing and commissioning. The project utilizes GE's latest fuseless technology to enable a 100 percent increase in the current capacity of the existing transmission line and installed infrastructure.
GE will partner for the first time with a local corporation, 3C Company, to provide local content for the project.
Stuart Dean, GE CEO for ASEAN, said, "GE has been in ASEAN from its beginning helping countries meet their energy and power needs to accelerate development plans and competitiveness in the industrial and manufacturing sectors. We believe in making the world better and one of the ways we do this is to build world-class infrastructure."
GE's capacitor technology is proven technology in Vietnam with the first GE banks installed in the 1990s. This is the second time GE has signed a contract directly with NPT. The first involved a similar capacitor banks installation in the 500-kV Da nang - Ha Tinh transmission line.
The U.S. Export-Import Bank is financing the project. Shipping and installation of the capacitors at the three locations will begin in the second quarter of 2013, with commercial operation set to begin in the third quarter of the year.
GE signed a memorandum of understanding in March 2011 with NPT for both companies to work together in an effort to increase Vietnam's power transmission efficiency and expertise, while reducing the risk of power shortages.
GE's Digital Energy business is a global leader in protection and control, communications, power sensing and power quality solutions. Its products and services increase the reliability of electrical power networks and critical equipment for utility, industrial and large commercial customers. From protecting and optimizing assets such as generators, transmission lines and motors, to ensuring secure wireless data transmission and providing uninterruptible power, GE's Digital Energy business delivers industry-leading technologies to solve the unique challenges of each customer. For more information, visit http://www.gedigitalenergy.com.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
GE Energy works connecting people and ideas everywhere to create advanced technologies for powering a cleaner, more productive world. With more than 100,000 employees in over 100 countries, our diverse portfolio of product and service solutions and deep industry expertise help our customers solve their challenges locally. We serve the energy sector with technologies in such areas as natural gas, oil, coal and nuclear energy; wind, solar, biogas and water processing; energy management; and grid modernization. We also offer integrated solutions to serve energy- and water-intensive industries such as mining, metals, marine, petrochemical, food & beverage and unconventional fuels.
Follow GE Energy on Twitter @GE_Energy.
For more information, contact:
Trinh Phuong Lan
Do Lien Yen Ly
T&A Ogilvy Vietnam
Trinh Phuong Lan