MOU signed with German Developer; Project to Feature Debut of GE 2.5xl Wind Turbines in the Country
BANGKOK, THAILAND -- August 3rd, 2010 -- German wind developer Pro Ventum International is teaming up with GE (NYSE:GE) to build a 90-megawatt wind farm about 250 kilometers northeast of Bangkok.
A memorandum of understanding (MOU) was signed today for GE to supply 36 units of GE's 2.5-megawatt wind turbines to the Thep Sathit Wind Farm in the Chaiyaphum province of Thailand. At the same time, GE is also looking into a potential equity investment in the project. It will be the first wind project in Thailand for both Pro Ventum and GE, and when operational, could potentially be one of the first wind farms of this scale in Thailand and the greater ASEAN region.
The MOU was signed during a ceremony witnessed by Dr. Wannarat Charnnukul, Minister of Energy for Thailand, who said, "This project will support the Thai government's policy to promote cleaner energy, which calls for the country to use renewable resources for 20% of its power generation by the year 2020."
"This is an important milestone for our company, and signals our commitment to invest in Thailand's clean energy future," said Mr. Reiner Zoller, CEO of Pro Ventum. "We're delighted to work with GE, one of the world leaders in wind turbine technology, to help Thailand move toward its renewable energy goals."
Supportive government policy will encourage more investments in the renewable energy industry. "Thailand's multi-year incentives have made wind energy development a competitive proposition for potential investors. This MOU is testimony to how long-term policies that match the lifecyle of an investment, are driving the growth of renewable power generation," said Kovit Kantapasara, GE Energy's country executive for Thailand and Indochina. "Renewable energy is important to Thailand as the country diversifies its power generation portfolio and reduces its dependence on imported fossil fuel."
GE is one of the world's leading wind turbine suppliers with over 14,000 wind turbine installations worldwide comprising more than 218 million operating hours and 127,000 GWh of energy produced.
The 2.5 megawatt wind turbine is the largest GE wind turbine available for onshore applications and is the most advanced wind turbine commercially available today in terms of efficiency, reliability and grid connection capabilities.
About GE
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world's toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at www.ge.com.
GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With nearly 85,000 global employees and 2009 revenues of $37 billion, GE Energy www.ge.com/energy is one of the world's leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energy - GE Power & Water, GE Energy Services and GE Oil & Gas - work together to provide integrated product and service solutions 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.
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