What's Hot

    Flash News: OKX Wallet Enables Participation in Chainge Finance’s zkSync Event with New Partnership

    June 4, 2023

    2 AI Stocks That Cathie Wood’s Buying Hand Over Fist

    June 4, 2023

    Eaton Vance Municipal Income Trust (EVN) Declares $0.04 Dividend

    June 4, 2023
    Facebook Twitter Instagram YouTube LinkedIn TikTok Telegram
    Telegram
    InformatemiInformatemi
    Subscribe
    • Home
    • Blog
    • Contact
    InformatemiInformatemi
    Home » Blog » Two GE-Led Consortiums in Agreement with TenneT for the Award of Contracts Totaling Approx. 10 Bln Euros to Build State-of-the-Art HVDC Systems for TenneT’s 2GW Program in the Netherlands and Germany – General Electric (NYSE:GE)
    Press Releases

    Two GE-Led Consortiums in Agreement with TenneT for the Award of Contracts Totaling Approx. 10 Bln Euros to Build State-of-the-Art HVDC Systems for TenneT’s 2GW Program in the Netherlands and Germany – General Electric (NYSE:GE)

    Business WireBy Business WireMarch 30, 20234 Mins Read
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    • Dutch-German Transmission Systems Operator (TSO) TenneT awards GE Grid Solutions consortium with Sembcorp Marine three projects in the Netherlands, while TenneT has entered into an agreement with GE-led consortium with McDermott to award two projects in Germany
    • TenneT’s innovative High-Voltage Direct Current (HVDC) 2GW Program in the Dutch and German North Sea is one of the most important infrastructure projects of the century
    • The program will play a critical role in strengthening Europe’s energy security, while putting Europe on track to become the world’s first climate-neutral continent by 2050

    GE Renewable Energy’s Grid Solutions business GE announced today that it has been awarded three High-Voltage Direct Current (HVDC) contracts for a total of approximately 6 billion euros as part of a specially formed consortium with Sembcorp Marine for TenneT‘s innovative 2GW Program in the Netherlands. The contracts have been awarded as part of a five-year Framework Cooperation Agreement with the possibility to extend for another three years.

    Furthermore, TenneT and a consortium formed by GE and McDermott have entered into an agreement based on which TenneT plans to award two further HVDC contracts in Germany for a total of approximately 4 billion euros to this consortium in April 2023.

    The five contracts for the GE consortia are among 11 two-gigawatt (GW) contracts awarded to HVDC suppliers by the Dutch-German Transmission Systems Operator (TSO) as part of its goal to connect 40 GW of offshore wind farms to the high voltage grids in the Netherlands and Germany. TenneT’s large-scale project resulted from the Esbjerg Declaration in May 2022 at the North Sea Energy Summit, where Germany, the Netherlands, Denmark, and Belgium agreed to jointly install at least 65 GW of offshore wind energy by 2030 – up from 20 GW today – to accelerate Europe’s energy security following recent geopolitical developments. TenneT plans to install 20 GW each in the Dutch and German North Sea.

    The GE consortia projects cover the offshore converter platforms and the onshore converter stations for the two-way conversion between alternating and direct current. The converter stations are based on bipolar Voltage-Sourced Converter (VSC) technology – the most advanced HVDC technology – and will have double the capacity compared to previous monopole grid connection systems, resulting in fewer cables and platforms.

    Tim Meyerjürgens, TenneT COO, said: “We are delighted to be working with GE and their consortium partners as part of our task to connect 40 GW offshore wind in the North Sea, one of the most important infrastructure projects of the century. TenneT has the technical know-how, scale, and geographical position to connect wind energy from the North Sea, while GE and its consortium partners have the HVDC expertise. Together, with the GE consortia and other HVDC partners we will accelerate the development of the offshore grid, thereby strengthening Europe’s energy security and putting Europe on track to become the world’s first climate-neutral continent by 2050.”

    Philippe Piron, CEO of GE Grid Solutions, said: “Together with our consortium partners Sembcorp Marine and McDermott, we are honored and pleased to play a key role in this critical infrastructure project for European energy security and decarbonization. These awards confirm that GE’s Voltage-Sourced Converter HVDC technology is now recognized as one of the most advanced in the world.”

    Read the full news release here.

    Notes to the Editor:

    Caution Concerning Forward-Looking Statements

    This press release contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see https://www.ge.com/investor-relations/important-forward-looking-statement-information, as well as our annual report on Form 10-K and our most recent quarterly report on Form 10-Q. We do not undertake to update our forward-looking statements.

    View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005599/en/



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleHC Wainwright & Co. Initiates Coverage of Legend Biotech (LEGN) with Buy Recommendation
    Next Article Will Do Kwon Be Extradited To US Or South Korea? Only Time Will Tell
    Business Wire

    Related Posts

    Flash News: OKX Wallet Enables Participation in Chainge Finance’s zkSync Event with New Partnership

    June 4, 2023

    Jordan is the first country to provide iris recognition for digital transformation services

    June 4, 2023

    Drive Shack Inc. Modifies Tax Benefits Plan – Drive Shack (OTC:DSHK)

    June 4, 2023
    Top Posts

    2 AI Stocks That Cathie Wood’s Buying Hand Over Fist

    June 4, 2023

    Eaton Vance Municipal Income Trust (EVN) Declares $0.04 Dividend

    June 4, 2023

    U.S. Money Supply Hasn’t Done This Since the Great Depression, and It Implies Something Big for Stocks

    June 4, 2023

    Subscribe to Updates

    Discover hidden stock market gems and stay up to date with our weekly email newsletter and individual stock ideas

    Loading

    Gain access to our Newsletter, SMS Alerts, and Telegram Community for FREE

    Top Insights

    Flash News: OKX Wallet Enables Participation in Chainge Finance’s zkSync Event with New Partnership

    June 4, 2023

    2 AI Stocks That Cathie Wood’s Buying Hand Over Fist

    June 4, 2023

    Eaton Vance Municipal Income Trust (EVN) Declares $0.04 Dividend

    June 4, 2023
    Get Informed

    Subscribe to Updates

    Discover hidden stock market gems and stay up to date with our weekly email newsletter and individual stock ideas

    Loading
    Facebook Twitter Instagram YouTube LinkedIn TikTok
    • Privacy Policy
    • Disclaimer
    • SMS Squeeze
    • Sign Up
    © 2023 Informatemi

    Type above and press Enter to search. Press Esc to cancel.