GE (NYSE: GE) and China Huadian Corp. announced a $100 million joint venture to develop distributed energy combined heat and power projects that will provide electricity for consumers in China located close to the plants.
The new company will be called Huadian GE Aero Gas Turbine Equipment Co. Ltd. China Huadian will own a majority share. The venture is expected to create opportunities for growth and investment in GE aeroderivative gas turbines and services.
The technology produces electricity and thermal energy from a single fuel at a facility. These systems recover heat that normally would be wasted in the power generation process, saving fuel that otherwise would be used to produce additional heat or steam in a separate unit.
GE’s aeroderivative business, based in Houston, uses modified GE aviation engines to burn natural gas or biofuels to create energy. These power generation units range from 18 to 100 MW and produce both electricity and thermal energy from a single fuel at a facility located near the customers. Suppliers from Ohio, Colorado, Oregon and Texas will support the projects in China.
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