GE Renewable Energy (NYSE: GE) and Cube Hydro Partners announced that they have entered into an agreement to provide three aerating turbines for the High Rock plant in North Carolina. The first of three 13.4 MW units will be delivered in the fall of 2018 and become operational in the spring of 2019.
The aerating turbine developed by GE Renewable Energy's Hydro Solutions business provides a unique environmental benefit for fish and other aquatic wildlife downstream of hydroelectric power plants by increasing the amount of oxygen in the rivers. This benefit is achieved by drawing air into the turbine. The oxygen in the air is transferred to the water and increases the dissolved oxygen levels downstream of the river.
GE Hydro Solutions's advanced R&D program on dissolved oxygen enhancement technologies is part of a GE Renewable Energy global R&D network for hydro research and aligned with GE's company-wide Global Research organization that includes 5 research facilities and 2,000 PhDs, scientists and engineers around the world who span multiple industry sectors. GE executives said they are enthusiastic about broader opportunities to address the large market for aerating turbines.
Pierre Marx, North America Leader for GE's Hydro Solutions said "This is an important contract for us because it will tangibly demonstrate our ability to supply this technology to an ever increasing, important U.S. market segment. We are delighted to be able to offer this product to Cube Hydro and our other customers, ensuring that the US market has access to the latest technology to address the dissolved oxygen challenge."
Kristina Johnson, Cube Hydro Partners's Chief Executive Officer said "Partnerships such as the one announced today are aimed at providing the highest quality equipment and service at the least possible cost, thus demonstrating that renewable energy is both affordable and good for the economy. Based on a comprehensive review of GE's aerating runner technology, we are excited about the environmental benefits this solution brings to the Yadkin River System."
About GE Renewable Energy:
GE Renewable Energy is a $10 billion start-up that brings together one of the broadest product and service portfolios of the renewable energy industry. Combining onshore and offshore wind, hydro and innovative technologies such as concentrated solar power and more recently turbine blades, GE Renewable Energy has installed more than 400+ gigawatts capacity globally to make the world work better and cleaner. With more than 22,000 employees present in more than 55 countries, GE Renewable Energy is backed by the resources of the world's first digital industrial company. Our goal is to demonstrate to the rest of the world that nobody should ever have to choose between affordable, reliable, and sustainable energy.
Follow GE Renewable Energy on Twitter @GErenewables or www.gerenewableenergy.com.
About Cube Hydro Partners:
Cube Hydro, a portfolio company of I Squared Capital Advisors (US) LLC, is a hydropower development and operating platform targeting investments in mid-sized greenfield and operating hydro projects in North Americas. Cube Hydro and its affiliates own and operate 19 hydropower plants on ten rivers in five states with a combined capacity of more than 374 megawatts, generating 1.4 million megawatt-hours annually, or enough electricity to power approximately 140,000 homes with renewable energy.
