GE Signs Strategic Agreement with China Huadian Corporation

GE GE and China Huadian Corporation today signed a five-year, joint collaboration agreement for distributed energy combined heat and power projects in China that is expected to boost U.S. exports and support thousands of U.S. jobs. The agreement was announced on the eve of Chinese President Hu Jintao's state visit to the United States. GE anticipates that at least 50 gas turbine generator sets will be sold and installed in China, resulting in $500M of total revenue for the collaboration. Of that amount, approximately $350M is estimated in U.S. exports. In addition, according to the U.S. Department of Commerce, the agreement could support approximately 2,100 U.S. jobs and provide new opportunities for further job growth in both countries.