This Article Originally was Published here: http://www.energyandcapital.com/articles/ge-nyse-ge-reaches-wind-service-deal-in-taiwan/2920
In a press release yeseterday, General Electric (NYSE: GE) announced the company has reached an agreement with Taiwan Power Company.
The deal, covering five years and full service, is worth $11.4 million and involves GE providing all service, maintenance, parts, and upkeep to the 26 GE 1.5 MW wind turbines installed across Taiwan.
From the press release:
“GE’s record of proven service performance was important to us in signing this agreement,” said Chen Yi-Chen, chief of the department of renewable energy, Taiwan Power Company. “We are confident that GE will provide a high level of professional service for our wind turbine fleet, including availability guarantees and predictable expenditures on turbine operation in the years ahead.”
Together, all 26 turbines provide Taiwan’s power grid with 110 million kilowatt hours—enough to power 28,000 Taiwanese households. 23 of these turbines are situated in Taoyuan County, with another 3 in Kenting Township, the press release stated.
The full service agreement (FSA) allows GE to oversee all aspects of maintenance and includes remote monitoring, on-site tech support, and a host of other upkeep solutions.
GE has been working with Taiwan Power Company for many decades in various capacities. The two began working together on wind power in 2005.
Taiwan Power is state-owned and has a generating capacity of 38,082 MW for its 11.9 million customers.
This Article Originally was Published here: http://www.energyandcapital.com/articles/ge-nyse-ge-reaches-wind-service-deal-in-taiwan/2920
GE (NYSE: GE) Reaches Wind Service Deal in Taiwan originally appeared in Energy and Capital. Energy and Capital, a free daily newsletter, offers practical investment analysis in the new energy economy.