Largest Geothermal Equipment Purchase is Announced

An Italian utility has completed one of the largest contracts for geothermal power generation equipment.

TUSCANY, Italy, IT, 2001-05-08 <> Erga S.p.A will pay US$85 million (180 billion lire) to purchase 200 megawatts of equipment from Nuovo Pignone, a unit of GE Power Systems which is a unit of General Electric Co. Erga is the renewable energy subsidiary of Enel, which was created in 1999. The contract represents one third of Erga’s total investment in expanding eight geothermal plants in Tuscany. The 600 million lire expansion will be complete by next year, and Erga plans to increase its output of electricity from renewable energy sources by 40 percent over the next five years, for a total investment of 1.6 trillion lire. “The growing demand for energy coupled with supply constraints and environmental concerns have contributed to the increasing global interest in green energy,” says Erga’s CEO Paolo Pietrogrande. “By working with skilled partners such as GE Power Systems, Erga can profitably bring innovative and efficient renewable energy technologies to the marketplace that help to address the need for new, clean energy sources.” The agreement calls for Nuovo Pignone of Florence to provide a set of equipment and rotating machinery, including steam turbines and centrifugal compressors. “GE Power Systems has again set a new benchmark for our industry,” says the company’s president and CEO Claudi Santiago. “This agreement with Erga underscores the strength of our technology and breadth of our portfolio of products and services for the energy industry.” Erga is one of the largest renewable energy producers in the world, with 2,300 MW of capacity in operation throughout Italy, the United States and Canada. The company is developing another 800 MW of projects in hydroelectric, geothermal, wind and solar PV power plants. Its first geothermal electric application dates back to 1912, and it now operates through its subsidiary, CHI Energy of Stamford, Connecticut, which it acquired last December. GE Power sells US$15 billion of power generation equipment each year.

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