GE and Shenhua are expected to execute a vision for expanding to improve cost and performance of commercial scale gasification and integrated gasification combined cycle (IGCC) solutions. This includes industrial coal gasification applications in China and jointly pursuing the deployment of commercial scale IGCC plants with carbon capture.
Wang Xiaolin, vice president of Shenhua Group, said: “The combination of Shenhua’s extensive experience in developing and operating coal gasification and coal-fired power generation facilities in China with GE’s proven gasification and IGCC technologies would create a leading gasification technology business in China with significant local presence, focus, resources and expertise.”
Steve Bolze, president and CEO of GE Power & Water, said: “Once established, this joint venture would represent an important investment by GE and Shenhua in the future of gasification in China and the deployment of cleaner coal technologies. Each business would contribute existing technology, operational, and service expertise to create a comprehensive gasification and cleaner coal technology and service provider in China.”
The parties anticipate that the transaction would be completed in the first half of 2010, subject to the negotiation of definitive agreements and obtaining all required approvals.
