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General Electric Co Signs $2.7 Billion Power Generation Contracts With Algeria-Reuters

Monday, 23 Sep 2013 08:23am EDT 

Reuters reported that General Electric Co signed three contracts to sell about $2.7 billion in power equipment to Algeria. The largest contract, for six combined-cycle power plants worth $1.9 billion, will add 8 gigawatts (GW) to Algeria's generating capacity. The other two contracts comprise two fast-track projects that add 528 MW of capacity for this summer's peak demand, and a new simple-cycle power plant to add 370 MW to Algeria's electricity grid. The biggest contract is with Societe Algerienne de Production de l'Electricite, a unit of Algeria's national electricity and gas company, Sonelgaz Group. 

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