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GE Energy to Provide Two LM2500+ Turbogenerator Sets to Russian Power Plant First LM Gas Turbines to be used by a Russian Power Generation Station ORLANDO, FLORIDA (November 30, 2004) — GE Energy was awarded a contract from OAO BelgorodEnergo through Russian leasing company IR-Leasing to provide two LM2500+ aeroderivative gas turbine generator sets for Looch Power Station in Belgorod, Russia. The Looch Power Station will be the first power generation station in Russia with LM gas turbines, and the units will be the first GE equipment used by BelgorodEnergo. This contract represents the 11th LM gas turbine in Russia, with the nine previous LM units being used for oil and gas projects. Eugeny Makarov, general director of BelgorodEnergo, noted that Looch Power Station is the first project from the BelgorodEnergo's investment program in district heating generation. This project is based on bank credits. It meets high-level standards and the power station will generate both heat and electrical power to reduce the cost of operation for the local power grid. The two LM2500+ gas turbine generators are each rated at 30 megawatts and are equipped with a dry low emissions system to reduce the nitrogen oxide (NOx) emissions below 50 mg/nm3. Natural gas will serve as the primary fuel source. The units will operate in cogeneration cycle to provide a total of 60 megawatts of electrical power and hot water for district heating for the Belgorod residential area. "GE Energy has a long-standing commitment to reducing emissions and providing the best power-generating equipment. We are pleased that BelgorodEnergo has chosen our aeroderivative gas turbine generator sets for what will be the first Russian power station to use LM gas turbines," said Rick Stewart, president of GE Energy's aeroderivative division. The LM2500+ gas generators will be manufactured at the GE industrial aeroderivative gas turbine facility in Cincinnati, Ohio, while the power turbines will be manufactured at GE Energy's oil and gas facility in Florence, Italy. The overall package construction, assembly and testing will be conducted at the GE Energy packaging facility in Houston, Texas. The gas turbine generator sets will be shipped from Houston, Texas to Belgorod, Russia in June 2005. GE will provide technical assistance on site during the installation and start up. Commercial operation is scheduled for the end of 2005. IR-Leasing will lease the two LM2500+ aeroderivative gas turbine generator sets to BelgorodEnergo for the four-year period. Financial facilities were arranged by IR-Leasing in cooperation with Vneshtorgbank, one of the "Top Five" Russian banks on the US-Exim bank credits base. "Leasing is the most progressive and effective investment tool when it comes to renewing capital assets of the high-tech industries such as electric-power. We did our best in cooperation with our partners GE and Vneshtorgbank to adjust the financing scheme, delivery, and thus cash flows of the project to production and operation needs of our honorable client BelgorodEnergo," said Alexey Akindinov, general director of IR-Leasing. OAO BelgorodEnergo is a regional power company with the main goal to provide reliable power supply for customers in Belgorod region. BelgorodEnergo is using the newest IT technologies for business operation and production as R/3, ARIS and Motiv. GE Energy's aeroderivative division is a leading supplier of aeroderivative gas turbines for industrial and marine applications and is also the world's largest and most experienced aeroderivative gas turbine service provider. It provides power-generating equipment to utilities, industries and marine fleets throughout the world. In addition, the company provides comprehensive maintenance coverage and is dedicated to helping its customers improve their operations through reduced plant downtime, improved efficiency, and enhanced power or production output. IR-Leasing is a part of group of leasing companies Interrosleasing, with over 10-years of experience in the Russian financial market. The company specializes in the leasing of high-tech equipment for the electric-power industry, nonferrous industry and mining industry. Among its clients are NorilskNickel, RAO United Energy Systems, ALROSA and other well-known Russian companies. About GE Energy GE Energy (www.gepower.com) is one of the world's leading suppliers of power generation and energy delivery technology, with 2003 revenues of nearly $18.5 billion. Based in Atlanta, Georgia, GE Energy provides equipment, service and management solutions across the power generation, oil and gas, transmission and distribution, distributed power and energy rental industries. For more information, contact: GE Energy: Dennis Murphy GE Energy +1 678 844 6948 dennis.murphy@ps.ge.com Ken Darling or Gina DeRossi Masto Public Relations +1 518 786 6488 kenneth.darling@ps.ge.com gina.derossi@ps.ge.com > Press Contacts > More 2004 Press Releases |