GE Energy’s services team last week signed a $128 million service agreement for two Chinese power projects, including the largest gas turbine combined-cycle power plant in the Zhejiang Province. It’s all part of GE’s actions to extend its leadership in services — which has created a $121 billion services backlog.
Service station: Providing onsite technical support, as seen here in China, helps customers win with performance guarantees, predictable maintenance costs and access to GE’s technology and global experience.
The Zhenjiang contract is designed to ensure that the gas turbines are run in a safe, reliable and timely manner with a planned maintenance schedule to avoid unexpected failures. It joins the list of more than 700 sites covering 2,000 gas turbines worldwide for which GE currently manages service contracts. GE Energy has furthered strengthened its services reach with the opening last week of a new Sales, Services and Technology Center in Moscow.
GE’s other businesses are also focused on service opportunities, such as GE Healthcare’s new mutli-year service contract with The Mount Sinai Hospital in New York that will streamline patient flow, improve operational efficiency, and decrease a patient’s length of stay by decreasing wait times and freeing up previously untapped capacity.
The potential for growth is enormous. For example, GE Aviation and its engine partners have produced the majority of the world’s airline jet engines — creating an installed base in operation of more than 23,000 engines, of which 40 percent await their first overhaul. With another 9,400 jet engines still on back order, GE Aviation is projected to achieve very strong long-term growth in its services sector. And GE Transportation’s Global Service organization is providing long-term service for more than 9,000 locomotives worldwide as it expands in North America, Australia, Poland, China, Kazakhstan, Russia and Malaysia.
“We continue to invest in services that allow our customers to focus on running their core businesses,” said Jeff Immelt, Chairman and CEO of GE. “GE is well positioned in this environment to maximize services deals because of our deep expertise and leading technology investment across multiple industries including energy, healthcare and transportation.”
* Read GE’s services announcement
