Green Investor News - China Selects GE (NYSE: GE) Technology Again to Support Rapid Growth in Wind Energy Sector

Green Investor News - China Selects GE (NYSE: GE) Technology Again to Support Rapid Growth in Wind Energy Sector
Three Projects with HECIC New Energy will Add 132 MW to China’s Renewable Energy Capacity

SCHENECTADY, N.Y.----GE (NYSE: GE) announced today that it has signed contracts to supply 88 wind turbines to HECIC New Energy Co., Ltd, one of China’s leading wind energy developers, for three new projects in Hebei and Shanxi Provinces. The projects will support the rapid growth of wind energy investments in China, which today is the world’s fourth largest producer of wind power.

“As a corporate citizen of China, our strategy is to apply the most advanced and reliable technology and technological expertise for every project that will help China reach its goal of achieving clean energy.”.China’s plan to add 150 gigawatts of installed wind power capacity by 2020 would require it to install approximately 11.5 gigawatts of installed wind power capacity per year from 2009-2020.

The new wind farms will add 132 megawatts of installed wind power capacity for China, which currently ranks fourth, behind only the United States, Germany and Spain in wind power production. According to the Global Wind Energy Council, China continued its rapid growth in wind energy in 2008 by doubling its installed capacity to 12.2 gigawatts.

To date GE has committed to supply 895 units of 1.5-MW wind turbines to China, in support of the country’s aggressive renewable energy program. China is aiming to increase power generation from renewable sources to 15 percent of the nation’s total by 2020. To achieve this, China will need to strengthen development on solar, wind and biomass energy.

“The development of wind power is a key economic growth area for China and plays a critical role in achieving our national target to increase to 150 gigawatts of installed wind energy capacity by 2020,” said Dr. Cao Xin, General Manager of HECIC New Energy Co., Ltd. “As a corporate citizen of China, our strategy is to apply the most advanced and reliable technology and technological expertise for every project that will help China reach its goal of achieving clean energy.”

“China is rapidly emerging as one of the world’s largest markets for wind power technology,” said Victor Abate, Vice President-Renewables for GE Power & Water. “We are committed to helping our Chinese customers develop the country’s vast potential for clean, wind-generated power, which will enable China to meet both its growing energy and environmental responsibilities.”

GE’s 1.5-megawatt wind turbine is the most reliable and widely deployed wind turbine in the global wind industry today. More than 12,000 of these machines have been installed for projects worldwide. In 2008, HECIC New Energy Co., Ltd purchased 66 of the machines for projects for which commissioning has been completed. The wind turbines for the HECIC New Energy projects will be equipped with Low Voltage Ride-Through and Wind Farm Management Systems, which are advanced and grid- friendly connection technologies, enhancing reliability and stability of the wind turbine.

GE’s support of China’s wind industry is just one part of the company’s total commitment to the country. GE started doing business in China as early as 1906 and currently runs 36 wholly owned or joint venture companies in China ranging from manufacturing, service, research and development, financial services and sourcing, with a total workforce of over 13,000.

About GE

GE is a diversified global infrastructure, finance and media company that's built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide.

GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With 60,000 global employees and 2008 revenues of $38.6 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.

For more information, visit the company’s Web site at www.ge.com. GE is imagination at work.

About HECIC New Energy

HECIC New Energy Co., Ltd. (HECIC NEW ENERGY) was established in 2006 as a wholly owned subsidiary of Hebei Construction & Investment Group Co., Ltd (HECIC).

HECIC NEW ENERGY is a professional company engaged in new energy undertakings. By adopting advanced technology and equipments as well as scientific management methods, it develops and utilizes wind, solar and nuclear energy, supplies clean electric power, adjusts industrial structure to maintain the healthy and sustainable development of the national economy and create social and economic benefits.
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