GE, Toshiba form joint venture for combined cycle projects
Toshiba and GE have cooperated in gas turbine combined-cycle power generation systems since 1982
GE and Toshiba Corp. signed a memorandum of understanding to form a global strategic alliance, under which the two companies would jointly develop select combined-cycle power generation projects around the world.
In addition, under the memo, the two companies will explore the formation of a strategic joint venture for the development of next-generation combined-cycle power projects with higher levels of thermal efficiency.
Toshiba and GE have cooperated in gas turbine combined-cycle power generation systems since 1982 and have existing agreements to pursue 50-Hz and 60-Hz projects together in Japan and in key regions in Asia.
The announcement builds on that long, successful history of collaboration by targeting projects around the world that the companies can jointly develop and by exploring joint development of future combined-cycle technology.
GE and Toshiba won a contract in 2012 to supply the new FlexEfficiency technology to Chubu Electric Power's Nishi Nagoya Thermal Power Plant in Japan. This system is being jointly configured to achieve the world's highest thermal efficiency of 62 percent (at site conditions). Based on the agreement, GE and Toshiba will look to extend winning collaborations such as this to customers around the world.
Combined-cycle power generation systems combine gas turbines and steam turbines to achieve very high fuel efficiency and reduced carbon dioxide emissions as compared to conventional thermal power plants. Exhaust heat from the gas turbine is recovered and used to produce steam that drives the steam turbine and generates more electricity.