GE Energy eyes over $1b revenue in India

GE Energy, which will join National Thermal Power Corp (NTPC) and Bharat Heavy Electricals Ltd (BHEL) for purposes of restarting the Dabhol power project, is targeting revenues of more than $ 1 billion in India by 2010. "India is at the beginning of an exciting growth cycle. As state governments begin to accelerate power sector reforms, we expect GE Energy to grow rapidly in India in view of the large investments being planned in the power sector and GE's technological edge," GE Energy President and CEO John G Rice told reporters here.

GE Energy is one of the world's leading suppliers of power generation and energy delivery technology, with 2004 revenue of 17.3 b dollars. "We expect India to contribute $ 1 billion in revenue by 2010," he said. "Our current focus is primarily on the gas turbine and services businesses. We are partnering with BHEL to provide technology support and customer training for GE technology heavy-duty gas turbines and we are extending our support to NTPC in their new projects. "We also see tremendous potential in emerging areas such as wind energy, nuclear energy, hydro energy and oil and gas," he added. On the last leg of his two-day visit to India, Rice reaffirmed GE's commitment to provide support for the restart of the Dabhol Power Project. GE Energy is already working with a team from NTPC and BHEL to determine a course of action for restarting and completing the Dabhol Power Project. "It is our view that a fully producing Dabhol plant is in the best interests of the people and we are eager to assist in whatever way we can." Further, he said the company had won an order to supply GE Energy's wind turbine technology for a 12-megawatt wind farm to be located in a village in Tamil Nadu.

GE Energy is supplying eight of its 1.5-megawatt wind turbines for the project, which is scheduled for commissioning in July 2005 and is expected to generate approximately 36 million kilowatt-hours of electricity per year. GE is also providing technical advisory services for the erection and commissioning of the turbines and operation and maintenance services for five years. The Surana Wind Farm marks GE Energy's second wind project in India. Last year, GE supplied 18 of its 1.5-megawatt wind turbines for the Nuziveedu Seeds Ltd Wind Power Project in Karnataka. Rice added that GE will support India in its Power for All by 2012 and rural electrification initiatives. "It is expected that the rural electrification drive will light up as many as 25,000 villages by 2009 and we believe that GE can play a very important role in realising this goal."