GE Power & Water, the world's largest producer of generators, is putting greater focus on Asia, aiming to cash in on expected massive investments in energy infrastructure to serve strong demand.
A model of the FE 50 gas turbine engine for power generation is on display at GE’s pavilion at the Power-Gen Asia 2013 exhibition at Impact Muang Thong Thani yesterday.
As much as US$10 trillion is required for energy infrastructure investment in Asia over the next decade to serve continuous growth in demand, said Fintan Tuffy, general manager for fleet analytics and performance management.
In Southeast Asia, energy demand is expected to increase by 90% by 2020, outpacing growth of 40% in other parts of Asia.
GE Power, a unit of the Connecticut-based multinational conglomerate General Electric, is confident its new technology will give it an advantage over competitors across the region.
Gas prices are increasing each year in the global market, so GE Power has developed a new series of generators that can lower the cost of power plants, said general manager Ramesh Singaram.
Peeratarat Ittarattanachoke, leader for power generation services in Thailand, said the company is keen to bid for supply contracts with independent power producers and the Electricity Generating Authority of Thailand.
About 70% of power generation capacity in Thailand is fuelled by gas, which has increased in price by more than 70% over the last decade.
As gas prices are expected to keep rising, the electricity tariff is likely to approach six baht per kilowatt-hour in the next five years, nearly double the current average price of 3.70 baht.
Mr Singaram said it took almost two years for GE Power to develop the FlexEfficiency series, which includes power generator and system solutions for gas turbine engines.
The new series has gas turbines that can increase power output by 3.8% to 6% and efficiency by 2-9%.
Mr Singaram said a new power generator of 500 megawatts will support utilities with cost controls and higher efficiency.
"Just 1% of a 530-MW generator in fuel efficiency equates to $66 billion in savings over a period of 15 years," he said.
The first two units of the new series are operating at South Korea's Korea Southern Power and Taiwan's Chia Hui Power Station.
The new technology last year earned $28 billion in revenue in the power and water sector.
Headquartered in New York, GE Power works in all energy areas including renewable resources such as wind, solar, biogas and alternative fuels, and coal, oil, natural gas and nuclear energy.