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GE Energy and Eolfi Asset Management of France Sign Contracts for Projects Totaling 70 Megawatts in Clean Wind Energy - GE (NYSE: GE) will supply 28 2.5-100 wind turbines to the French renewable energy asset management company Eolfi Asset Management for two wind park projects in France
GE Energy and Eolfi Asset Management of France Sign Contracts for Projects Totaling 70 Megawatts in Clean Wind Energy

 

NewswireToday - /newswire/ - Troyes, France, 2011/11/03 - GE (NYSE: GE) will supply 28 2.5-100 wind turbines to the French renewable energy asset management company Eolfi Asset Management for two wind park projects in France. NYSE: GE

   
 
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• GE Will Supply 28 Advanced Technology Wind Turbines for Two Projects;
• Projects are Located in One of France’s Strongest Wind Regions: Champagne-Ardennes, 40 kilometers North of Troyes;
• Contract Includes Full-Service Agreement; GE Recently Established Local Service Center.

GE (NYSE: GE) will supply 28 2.5-100 wind turbines to the French renewable energy asset management company Eolfi Asset Management for two wind park projects in France. The 2.5-100 wind turbines feature outputs of 2.5 megawatts (MW) and 100-meter rotor diameters.

Slated for installation in four villages in the Aube area, 40 kilometers (km) north of Troyes (about 150 km southeast of Paris), the Quatre Vents project will include 14 of the 2.5-100 MW wind turbines. For the second project, GE will install the wind turbines in two villages in Mont d’Arcis. The contracts include the wind turbine manufacturing, shipment, installation and a 10-year, full-service agreement (FSA). The two projects are about 10 km apart, in a region where GE opened a new service center earlier this year.

The Champagne-Ardenne region is well-suited for wind projects because of high winds and the large agricultural area available for installations. It already boasts more than 890 MW of wind energy production, or some 30 percent of the region’s electricity domestic consumption. The two new projects will add to that capacity and will help France reach its goal of having 23 percent of its total energy consumption come from renewables by 2020.

"This contract with Eolfi Asset Management shows the importance of being a local player," says Stephan Ritter, general manager for GE’s Renewable Energy business in Europe. "With our newly opened service center earlier this year, we can provide operation and maintenance at a local level—close to our customer. The 2.5-100 MW wind turbine offers an advanced technology in terms of efficiency, reliability and grid connection capabilities. It delivers the highest annual energy production in its class. The rotor length of 100 meters in combination with GE’s advanced grid integration technology will enable the wind farms to achieve some of the highest reliability and availability standards within Europe."

Eolfi Asset Management signed an agreement with Greensolver for the construction management of the wind parks. Eolfi expects the projects to begin commercial operation in the second half of 2012.

The FSA offered by GE includes all planned maintenance activities such as remote monitoring, routine services, preventative maintenance, onsite support and parts support, as well as unplanned maintenance such as up-tower inspection and repair, condition monitoring and turbine performance and life extension solutions. Page 2 of 2 GE November 3, 2011

About Eolfi Asset Management
Eolfi Asset Management is a Paris-based independent renewable energy asset manager specializing in wind and solar. The company’s range of funds is structured to attract institutional investors, family offices and individuals who are looking for high return, carbon free investment opportunities in the most attractive countries in Europe. Eolfi Asset Management in-house expertise covers equity raising, advisory services for third party investors, bank financing, portfolio management and reporting. Eolfi Asset Management manages two closed end infrastructure funds (FCPRs) totaling €117m and advises seven local investment funds structured for retail investors (FIPs) totaling €132m.

About GE
GE (ge.com) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide.

GE also serves the energy sector by providing technology and service solutions that are based on a commitment to quality and innovation. The company continues to invest in new technology solutions and growth through strategic acquisitions to strengthen its local presence and better serve customers around the world. The businesses that comprise GE Energy—GE Power & Water, GE Energy Management and GE Oil & Gas—work together with more than 100,000 global employees and 2010 revenues of $38 billion, to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; as well as other alternative fuels and new grid modernization technologies to meet 21st century energy needs.

PRESS Contacts
Veronique Delorme, Eolfi Asset Management
+33 1 40 07 95 00 / E: veronique.delorme[.]eolfi.com.

Ken Darling, Masto Public Relations
P: +1 518 786 6488 / E: kenneth.darling[.]ge.com

Beth Coffman, Masto Public Relations
P: +1 518 786 6488 / E: beth.coffman[.]mastopr.com.

GE news, Masto Public Relations / E: information[.]mastopr.com.

 
 
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GE Energy and Eolfi Asset Management of France Sign Contracts for Projects Totaling 70 Megawatts in Clean Wind Energy

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