SCHENECTADY, N.Y. (AP) — General Electric Co. plans to invest $50 million to increase its steam-turbine production capacity to meet growing demand, the industrial conglomerate said Sunday.
GE will expand its production and engineering centers in North America, Europe and Asia.
Much of the demand for the equipment is being driven by combined-cycle power generation plants, the company said. GE has received more than $2 billion this year in orders for combined-cycle power generation plants in Europe and the Middle East. It also expects increased demand for steam turbines for renewable-energy projects, like nuclear, solar-thermal and cleaner coal.
''Although a full range of technology options is required to meet the world's growing electricity needs, steam turbines remain a backbone of the energy industry,'' Larry Blystone, vice president of global supply for GE Energy, said in a statement.