GE Vice Chairman John G. Rice and Lorraine Bolsinger, leader of GE's new Distributed Power business, launched GE's Distributed Power, a new business that combines three product lines - Aeroderivative Gas Turbines, Jenbacher Gas Engines and Waukesha Gas Engines - aimed to better serve the distributed power space. GE announced an investment in the newly created business of $1.4 billion over four years to help meet the world's growing demand for on-site power systems that are easier to finance, faster to install and more efficient and reliable for customers. GE believes distributed power will grow 40 percent faster than global electricity demand between now and 2020.
More communities and businesses are installing distributed power technologies to improve access to electricity in remote areas with poor or non-existent electric grids. In addition, in both developing and developed economies, industry is using distributed power to improve industrial and residential energy efficiency and ensure they have emergency power in the event of natural disasters and other unplanned outages. At the same time, the oil and gas industry relies heavily on on-site power to provide electricity to remote operations as well as mechanical power to pump and compress gas.
Lorraine Bolsinger, president and CEO of GE's Distributed Power business, said, "With more than 1.3 billion people lacking access to reliable power today, our Distributed Power business is ideally positioned to serve communities in both developing and industrialized countries where we see a growing demand for distributed power solutions to improve local energy security and comply with more stringent environmental regulations. The proliferation of distributed power systems is benefitting people and industries around the world because power is crucial to improving the quality of life and economic development."
GE also announced a number of agreements during the launch event, including:
Two memoranda of understanding (MOU) with Clean Power Indonesia (CPI) and PLN for the development and deployment of its integrated biomass gasification power system in Indonesia, with potential to further diversify Indonesia's fuel mix by creating power from sustainable, local bamboo and wood sources.
Two major Southeast Asia gas engine supply and service agreements with distributed power project developer Navigat Energy Pte Ltd to provide 100 new Jenbacher gas engines that will generate a total of 330 megawatts at a number of independent power production sites in Indonesia and Thailand.