GENERAL ELECTRIC COMPANY

(GE)
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Delayed Nyse  -  04:00 2022-08-09 pm EDT
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GE Announces the Successful Completion of the Open Cycle of the Azito Phase IV Power Plant, Generating Approximately 8% of Ivory Coast Current Installed Electricity Capacity

06/30/2022 | 04:17am EDT

GE (www.GE.com) and Azito Energie S.A. celebrated the start of operations of Azito's Phase IV simple cycle power plant in Abidjan, Ivory Coast, making Azito power plant the largest gas power plant in the country to date; the plant will add 180 megawatts (MW) of electricity to the Ivory Coast national grid - the equivalent needed to power more than 300,000 Ivorian homes, supporting the country's decarbonization roadmap and the country's growing energy consumption needs; for this project, GE provided power generation equipment, digital solutions, and services.

GE (NYSE: GE) and Azito Energie S.A. (http://www.AzitoEnergie.com/fr/) today announced the start of operations for the simple cycle of the Azito Phase IV power plant, located in the Yopougon district of Abidjan in Ivory Coast. For this project, GE provided a GT13E2 2012 MXL2 gas turbine including power generation equipment, analytics and controls software, and a service agreement for twenty years to manage all aspects of the project's lifecycle. The plant will add 180 megawatts (MW), the equivalent electricity needed to power more than 300,000 Ivorian homes, representing approximately 8% of the country's current installed capacity and the largest gas power plant in the country.

"Because of its relevance in providing energy to the people of Ivory Coast, the commissioning of the Azito Phase IV power plant is another milestone in ensuring energy efficiency for generations to come," said Luc Aye, Managing Director, Azito Energie S.A. "The growth of gas power generation plays a critical role in facilitating Ivory Coast's decarbonization and energy targets by delivering accessible, affordable and reliable energy across the country. We look forward to furthering the collaboration with GE's innovative technology solutions."

In addition, Azito power plant will use big data analytics to improve overall Azito's fleet performance and make smarter operational decisions using GE Digital Asset Performance Management (APM) software solution. APM will analyze Azito's plant historical performance and operations to monitor and diagnose possible issues, improve capacity planning, and drive improved efficiency, availability, flexibility, and emissions. Data collected from sensors throughout the facility will be monitored and analyzed 24/7 at GE's Monitoring & Diagnostics (M&D) Center in Atlanta, GA, United States.

"This project supports Ivory Coast's plans for transition towards lower carbon power generation through gas and renewables, and highlights GE's commitment to supporting power plant operators in their energy transition efforts to increase electricity production capacity with efficient gas technologies," said Kenneth Oyakhire, Services Director, GE Gas Power Sub-Saharan Africa. "We are delighted to have delivered our advanced technology, digital solutions, and services for Phase IV, one of the most important projects in Ivory Coast and look forward to continue this strong working relationship."

GE powers plants that deliver flexible, efficient and reliable power to millions of people around the world. With almost 70 years of presence in Sub-Saharan Africa, GE has been collaborating with energy stakeholders to deploy innovative technologies tailored to respond to the needs of the Sub-Saharan Africa region with reliable baseload and flexible power. GE delivers across the entire energy ecosystem from generation to transmission and distribution and throughout the region, GE-built technologies are supported by GE local service and maintenance teams working together and in close co-operation with FieldCore to help ensure access to reliable and sustainable energy.

Distributed by APO Group on behalf of GE.

For more information, please contact:

Anne Ezeh

Communications Director,

GE Gas Power

anne.ezeh@ge.com

Laura Aresi

Public Relations Leader

GE Gas Power

+39 02 67335600

Laura.aresi@ge.com

About GE Gas Power:

GE Gas Power is a world leader in natural gas power technology, services, and solutions.

Through relentless innovation and continuous collaborations with our customers, we are providing more advanced, cleaner, and efficient power that people depend on today and building the energy technologies of the future.

With the world's largest installed base of gas turbines and more than 670 million operating hours across GE's installed fleet, we offer advanced technology and a level of experience that's unmatched in the industry to build, operate, and maintain leading gas power plants. For more information, visitwww.GE.com/power/gas and follow GE's gas power businesses on Twitter (https://bit.ly/2MVIVoh) and LinkedIn (https://bit.ly/2L34UaT).

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(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2022 75 056 M - -
Net income 2022 489 M - -
Net Debt 2022 13 451 M - -
P/E ratio 2022 848x
Yield 2022 0,52%
Capitalization 82 165 M 82 165 M -
EV / Sales 2022 1,27x
EV / Sales 2023 1,14x
Nbr of Employees 168 000
Free-Float 74,1%
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H. Lawrence Culp Chairman & Chief Executive Officer
Carolina Dybeck-Happe Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
Nancy Anderson Chief Information Officer & Vice President
Francisco D'Souza Independent Director
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