General Electric Signs 9-Year Extension of Deal to Support Central Puerto Plant

General Electric Company (NYSE: GE) recently announced that it has inked a 9-year extension of its maintenance services deal with Central Puerto to maintain its 760-megawatt combined-cycle power plant located in Buenos Aires. The mentioned agreement valued at $70 million includes the first order for General Electric’s advanced digital power plant solutions in Argentina. This latest deal extends the almost 2 decade partnership between GE and Central Puerto to bring dependable and efficient power to Argentina’s people.

Just recently, Central Puerto bought a GE 9HA.01 gas turbine, with the turbine’s installation planned for the coming years. This marks GE’s first order for advanced efficiency HA gas turbine technology in the Caribbean and Latin American regions.

The Central Puerto Chief Strategy Officer José Luis Morea stated, “We are pleased this project incorporates the latest digital technology into our multiyear agreement with GE to help us ensure that our Central Puerto power plant operates at the highest levels of reliability and availability.”

“This station is crucial to the reliability of the power grid in Buenos Aires, requiring that it operates at the best possible performance levels and generating the equivalent power needed to supply more than 500,000 homes in the country,” the Chief Strategy Officer further added.

This deal gives Central Puerto access to a wide range of power generation technologies by General Electric. Some of these include a full power station distributed control system upgrade, enhanced balance of equipment for the plant, a liquid fuel filtering system, and other services for the maintenance of the boilers, steam turbines, and condenser of the station.

According to the General Electric regional general manager for Power Services in Latin America Mr. Ramon Paramio, “With Argentina’s increasing energy demands, power plants such as Central Puerto are finding innovative ways to improve the reliability and performance of their plant operations to address the country’s needs.”

“GE’s total plant solutions allow us to enhance our offerings to provide the latest digital technologies, which will help Central Puerto be better positioned to compete in a fast growing power generation marketplace,” Paramio further stated.

General Electric’s Asset Performance Management (APM) software app—an advanced cloud-based operating system powered by Predix—is designed especially for the industry and can collect data for the monitoring, analysis, and boosting equipment health at Central Puerto. Additionally, the Asset Performance Management’s anomaly detection feature will also aid the Argentina-based power generation company in terms of predicting outages before they occur. Ultimately, this will ramp up the reliability of the power plant and also minimize its downtime.

As of 9:26 AM GMT-4, the stock of General Electric is trading at $31.21,down by 0.03 percent or 0.01 points.

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