GE (NYSE: GE) and Toshiba Corp. signed a memorandum of understanding to form a global strategic alliance to jointly develop select combined-cycle power generation projects globally. Both companies will also look into the formation of a joint venture for the development of next-generation combined-cycle power projects.
Toshiba and GE have existing agreements to pursue 50 Hz and 60 Hz projects together in Japan and certain regions in Asia. The companies won a contact in 2012 to supply GE’s FlexEfficiency technology to Chubu Electric Power’s Nishi-Nagoya Thermal Power Plant in Japan.
“Toshiba's sophisticated engineering, procurement and construction solutions have been well recognized by customers all over the world. Such capability, together with GE's FlexEfficiency portfolio, will enable the most efficient combined-cycle power plant,” said Norio Sasaki, president and CEO of Toshiba Corp. “Our 30- year relationship with GE has been mainly focused on Japan in the past, and we are excited to work toward collaborating with GE in select projects around the world, while also developing technologies together for even more fuel-efficient power plants in the future.”
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