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| GE's FlexEfficiency 60 Combined-Cycle Power Plant. PHOTO: GE |
Two of the world’s largest, most wealthy conglomerates have agreed to join forces and develop select combined-cycle power generation projects around the world.
Indeed, corporate giants GE (General Electric) and Toshiba Corp. have signed a MOU (memorandum of understanding)to explore the formation of a strategic joint venture for the development of next-generation combined-cycle power projects with higher levels of thermal efficiency.
GE, with a market capitalization of $232.38 billion, and Toshiba, with its $1.61 trillion market cap, have cooperated in gas turbine combined-cycle power generation systems since 1982.
The two monoliths won a contract in 2012 to supply FlexEfficiency technology to Chubu Electric Power’s Nishi Nagoya Thermal Power Plant in Japan. This jointly configured system can achieve the world’s highest thermal efficiency of 62 per cent in peak conditions.
Combined-cycle power generation systems achieve very high fuel efficiency and reduced CO2 (carbon dioxide) emissions as compared to conventional thermal power plants by capturing the exhaust heat from a gas turbine to produce steam that drives a steam turbine and generates more electricity.
GE’s FlexEfficiency technology portfolio harnesses natural gas and enables greater use of renewable energy.
Cheers
Andrew Joseph
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