General Electric : GE awarded technology order for South Eastern Europe’s largest gas project in five years

BUCHAREST, ROMANIA - June 27, 2017: GE (NYSE: GE) has been awarded an order from the consortium Duro Felguera (DF Energy) - Romelectro for core technology in a new combined-cycle power plant from Romgaz in Iernut, Romania. With a planned installed generation capacity of 430 megawatts (MW), the Iernut project is South Eastern Europe's largest gas project in five years, and GE's technology will be capable of generating the equivalent power needed to supply 1 million average Romanian households. In addition, the project is Romania's largest public investment in conventional power in 20 years with a total investment of €268 million from Romgaz.

The plant will feature four of GE's 6F.03 gas turbines, two steam turbines and four heat recovery steam generators (HRSG) as part of expanded scope solutions from GE's portfolio following the acquisition of the former Alstom Power business. GE technology is expected to increase the plant's gross efficiency to 56.42 percent - an increase of 18 percentage points - and reduce CO2 emissions by 38 percent compared to the current levels. The new combined-cycle power plant will be built within the existing gas-fired power plant site. Work will commence later in 2017, and the new plant is expected to replace the existing plant upon completion in 2019.

'DF Energy is excited to execute its first major project in Eastern Europe for Romgaz in consortium with Romelectro and in cooperation with our long-standing partner GE. This project validates DF Energy's renewed focus on excellence in project delivery, enhanced by the valuable expertise of Romelectro and the world-class reputation and experience of GE,' said Javier Garcia Laza, executive vice president of DF Energy.

'This project will result in one of the largest and most efficient gas power plants in South Eastern Europe and will change the way power is delivered in Romania,' said Joe Mastrangelo, president and CEO of GE Power's Gas Power Systems. 'With our expanded portfolio of products and services, we are able to provide end-to-end solutions that maximize efficiency and reliability and help power producers meet emissions standards while reducing costs at the same time.'

GE's technology will benefit the Romanian grid in multiple ways. In addition to flexible start up times of less than 15 minutes, the power plant will bring more stability to the grid by providing faster and more accessible energy reserves. The strategic location of the Iernut power plant -- close to high-voltage lines connecting Romania's different geographic regions -- will enable energy providers to respond quickly to grid demand fluctuations in the region with minimal transmission and distribution loss.

This year, GE celebrates more than three decades of business in Romania. The company's history dates back to 1984 when GE provided turbo-generator units for the Cernavodă Nuclear Power Plant. Today, all of GE's major businesses have a presence in Romania, and almost 1000 employees support customers in the country and abroad.

About GE

GE (NYSE: GE) is the world's Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the 'GE Store,' through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com

About GE Power

GE Power is a world leader in power generation with deep domain expertise to help customers deliver electricity from a wide spectrum of fuel sources. We are transforming the electricity industry with the digital power plant, the world's largest and most efficient gas turbine, full balance of plant, upgrade and service solutions as well as our data-leveraging software. Our innovative technologies and digital offerings help make power more affordable, reliable, accessible and sustainable.

For more information, visit the company's website at www.gepower.com. Follow GE Power on Twitter @GE_Power and on LinkedIn at GE Power.

About Duro Felguera

Duro Felguera (DF) is a Spanish company specializing in the delivery of turnkey projects for the energy, mining and handling, oil & gas, smart control systems, communications, security and defence sectors. It is at the same time a supplier of assembly and industrial plant operation and maintenance services, mainly in the field of power plants. The company is also a prestigious manufacturer of equipment, pressure vessels and fractionating columns etc. for the oil industry and railway crossings for high speed trains. The company's headquarters are in Gijón (Asturias), and it boasts over 150 years' experience in industrial activity. It has been quoted on the Stock Market of Madrid for over 100 years. DF is currently represented in Mexico, Brazil, Colombia, Venezuela, Argentina, Chile, Peru, Costa Rica, USA, India, China, Indonesia, Saudi Arabia, Dubai, Japan, Australia and Algeria

For more information, visit the company's website at www.dfdurofelguera.com and follow DF on Twitter @DuroFelgueraSA

About Romelectro

Romelectro is a private Romanian company acting as an EPC Contractor and having more than 45 years of international experience in the energy area. The Romelectro Group includes: ISPE (Institute for Studies and Power Engineering) a consulting and engineering company; CELPI a company manufacturing and testing steel towers for electricity, railways and telecommunication; Electromontaj Carpaţi Sibiu an installation company for electrical and automation systems; Romelectro Arabia, a private Saudi entity, acting as a general contractor in Saudi Arabia and Gulf area. Romelectro has project related branches in Egypt and Kosovo

See also www.romelectro.ro , as well as on LinkedIn and Slideshare.