Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  General Electric Company    GE

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

General Electric Company : GE Gas Turbine Technology to Generate Cleaner, Reliable Power for Indonesia’s Batam Island

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/28/2013 | 03:54pm CEST

JAKARTA, INDONESIA-February 28, 2013-GE (NYSE: GE) has supplied two Frame 6B 3-series gas turbine-generators for the UBE Batam Power Plant, which will help to reduce power generation costs and support future economic growth for Batam, an industrial island south of Singapore. Owned by PT Medco Power Indonesia through its subsidiary, the new gas-fired facility will increase the island's electricity supply and reduce its dependency on oil-fired power generation.

GE shipped the equipment at the end of 2012 and the new facility is expected to begin commercial service in simple cycle in early 2014. The UBE Batam power project supports the regional government's commitment to meet the island's growing power needs with cleaner and more efficient power. The new plant boosts Medco Power's power generation capacity for Batam Island by 20 percent, adding approximately 80 megawatts of power while enabling a switch from fuel oil to gas fuel, a cleaner and more cost-effective option. The plant will operate on natural gas supplied from West Natuna in Indonesia.

"Installing GE's gas turbine technology at our UBE Batam Power Plant will enable us to use more of Indonesia's cleaner domestic natural gas resources in place of oil to help strengthen the country's energy security and economy while also reducing Batam's emissions from power generation," said Fazil E. Alfitri, president director of PT Medco Power Indonesia.

"GE's Frame 6B 3-series gas turbine is one of the most reliable heavy-duty gas turbines in the world, with more than 1,200 installed and 60 million operating hours in a wide range of applications," said Paul Browning, president and CEO Thermal Products, GE Power & Water. "This machine offers proven reliability and a lower cost of generating electricity compared to older, oil-fired steam turbine plants. Due to its fuel flexibility and ability to accept large transients, low cost per horsepower and high horsepower per square meter, the 6B 3-series gas turbine is an excellent fit for island grids like the Batam project."

Since 1984, GE has shipped 33 6B 3-series gas turbines to Indonesia for industrial cogeneration, combined-cycle or peaking operations.

The new project marks the second deal between GE and Medco Power; previously, GE provided a TM2500 gas turbine for another project on Batam Island.

PT Medco Power Indonesia was founded in 2004 and is based in Jakarta, Indonesia. It operates as a subsidiary of PT Saratoga Power and PT Medco Energi Internasional tbk, a major operator in Indonesia's oil and gas sector.

About GE

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.

About GE Power & Water

GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar, biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world's most complex challenges related to water availability and quality. Power & Water's six business units include Distributed Power, Nuclear Energy, Power Generation Services, Renewable Energy, Thermal Products and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE's largest industrial business.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GENERAL ELECTRIC COMPANY
06/23 GENERAL ELECTRIC : Federal Contracts Awarded to Companies in Massachusetts (June..
06/23 WAL MART STORES : By Jim Martin Erie Times-News
06/23 GENERAL ELECTRIC : CONTRACT AWARD - Onsite diagnose and repair General Electric
06/23 GENERAL ELECTRIC : MILITARY $32,259 Federal Contract Awarded to G.E. Aviation
06/23 GENERAL ELECTRIC : MILITARY $70,317 Federal Contract Awarded to G.E. Aviation
06/23 GENERAL ELECTRIC : GE showcases future of energy and industry at Expo-2017 in Ka..
06/23 WARREN BUFFETT : 'Bailout' Buffett burnishes 'lender of last resort' image
06/23 GENERAL ELECTRIC : Concept Laser and LAUAK sign Letter of Intent for additive ma..
06/22 GENERAL ELECTRIC : Patent Issued for Microfluidic LAL-Reactive Substances Testin..
06/22DJTrump Promises Telecom Executives Less Red Tape
More news
Sector news : Industrial Conglomerates
06/23 TOSHIBA : estimates bigger loss for past year on Westinghouse, lawsuits
06/22DJTrump Promises Telecom Executives Less Red Tape
06/22DJMalaysia's Permodalan Nasional Plans IPO of Highway Business
06/21 Lockheed upbeat on foreign sales prospects of CH-53K helicopter
06/21 Bain to be biggest investor in Toshiba chip unit, putting up $7.7 billion - s..
More sector news : Industrial Conglomerates
News from SeekingAlpha
06/23 POST-IMMELT GE : Time To Get Back In?
06/23 GENERAL ELECTRIC : It's Going To Get Worse Before It Gets Really Bad
06/22 Crude Oil Price Drop Should Be A Temporary Dip
06/22 WALL STREET BREAKFAST : First Look At Senate Health Bill
06/22 Another White House tech meeting
Advertisement
Financials ($)
Sales 2017 126 087 M
EBIT 2017 17 742 M
Net income 2017 12 802 M
Debt 2017 79 456 M
Yield 2017 3,50%
P/E ratio 2017 18,96
P/E ratio 2018 15,81
EV / Sales 2017 2,53x
EV / Sales 2018 2,24x
Capitalization 239 243 M
More Financials
Chart GENERAL ELECTRIC COMPANY
Duration : Period :
General Electric Company Technical Analysis Chart | GE | US3696041033 | 4-Traders
Full-screen chart
Technical analysis trends GENERAL ELECTRIC ...
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 32,1 $
Spread / Average Target 17%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Jeffrey R. Immelt Chairman & Chief Executive Officer
Shane Fitzsimons Senior Vice President-Global Operations
Jeffrey S. Bornstein Vice Chairman & Chief Financial Officer
Jim Fowler Chief Information Officer
Victor Abate Chief Technology Officer & Senior Vice President
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
GENERAL ELECTRIC COMPA..-12.09%239 243
3M18.84%126 746
SIEMENS7.19%118 820
HONEYWELL INTERNATIONA..15.88%102 207
DUPONT10.82%70 524
ILLINOIS TOOL WORKS IN..19.38%50 501
More Results