Yahoo Finance General Electric's (GE) Unit to Upgrade Shuaiba Plant in Kuwait
General Electric Company’s GE unit GE Vernova’s Gas Power business has secured a multi-year services deal from Malaysia and Kuwait-based engineering company TNB REMACO – Al Dhow Joint Venture to upgrade gas turbines installed at Kuwait’s Ministry of Electricity & Water & Renewable Energy’s Shuaiba North Power Station.
GE Vernova is the combined operations of GE Digital, Renewable Energy and GE Power. Its Gas Power business includes General Electric’s gas lifecycle business (including Power Services and Gas Power Systems businesses).
Al Ahmadi, Kuwait-based 876 Megawatt Shuaiba North Power station has three electricity generating blocks. Each electricity block contains a 9F.03 gas turbine and generator from General Electric. Per the five-year agreement, the company will elevate the combustion technology installed on the gas turbines to the Dry Low Nox DLN2.6+ combustion system to improve combustor operability, lessen emissions levels, expand turndown capability and increase hardware inspection intervals.
GE will also supply parts and its Asset Performance Management software in the cloud, and provide repairs and field services. This is likely to enhance asset reliability, availability and productivity to help contribute to the long-term energy security requirements of the country.
Price Performance
In the past year, the GE stock has gained 50.2% against the industry’s 7.2% decline.
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