GE signs $2.7 billion power deal with Algeria

• 10 years ago (2013-09-24)
• David Flin

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GE has signed three contracts to sell $2.7 billion in power plants to Algeria, as the country seeks to massively increase its generation capacity. Energy demand in Algeria is growing at an average annual rate of 14 per cent, rising from its current level of 12GW to 20GW by 2017.

The largest contract, worth $1.9 billion, is for six combined cycle power plants that will add 8GW to Algeria’s generating capacity. The other two contracts comprise two fast-track projects that add 528MW of capacity for the summer peak demand, and a new simple-cycle power plant to add 370MW to Algeria’s 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. GE said it also planned a joint venture with Sonelgaz to build a factory in Algeria to produce over 2GW of power generation equipment a year, creating nearly 400 jobs.