GE said its FlexEfficiency technology, which was introduced earlier this year, is engineered to deliver an unprecedented combination of flexibility and efficiency.

GE Energy thermal products president and CEO Paul Browning said both GE and Toshiba see rich opportunities for FlexEfficiency offering in Japan and elsewhere in the Asia region over the next few years.

"By facilitating the integration of more renewable energy into the power grid, this technology is a good fit for countries like Japan that are turning to renewable solutions, such as wind and solar, to meet more of their power needs," Browning said.

Toshiba and GE have worked together for eight decades, including nearly 30 years in the gas turbine sector.