Toshiba Receives Combined-Cycle Project Order from Hokkaido Electric Power Co., Inc. Powered by GE/Toshiba Alliance

  Toshiba Receives Combined-Cycle Project Order from Hokkaido Electric Power
  Co., Inc. Powered by GE/Toshiba Alliance

Toshiba and GE Strengthen Strategic Alliance for Sales Expansion

Business Wire

TOKYO -- June 3, 2014

Toshiba Corporation (Tokyo:6502) and GE (NYSE:GE) today announced Toshiba has
received an order for a high-efficiency combined-cycle thermal power
generation system from Hokkaido Electric Power Co., Inc. (HEPCO) for the
Ishikariwan Shinko Power Plant Unit 1, HEPCO’s first liquefied natural gas
(LNG) fueled thermal power plant. The combined-cycle thermal power generation
system combines GE’s latest high-efficiency 9HA Gas Turbine with Toshiba’s
most-advanced steam turbine. Toshiba will be the prime contractor for the
project.

The gas turbine combined-cycle system ordered by HEPCO is expected to achieve
a thermal efficiency of 62 percent, the world’s highest^1, at the lower
heating value. The plant will have an output capacity of 569.4 megawatts (MW),
and construction is expected to start in October 2015.

Toshiba and GE are drawing on their respective records of excellent
reliability, high-level technical competence and a comprehensive service
network in an alliance to promote joint marketing of combined-cycle systems
that offer the world’s highest level of thermal energy efficiency.

Toshiba and GE have cooperated in gas turbine combined-cycle power generation
systems since 1982. In May 1996, the companies established Toshiba-GE Turbine
Services Co., Ltd. (TGTS) to provide maintenance services in Japan for
high-pressure components for gas turbines. In October 2011, they established
an alliance to promote sales of the world’s most efficient 50-Hz systems in
Japan and Asia, and in September 2012, this was expanded to include 60-Hz
systems.

In October 2013, Toshiba and GE signed a strategic alliance agreement to
reinforce marketing capabilities globally, based on a January 2013 memorandum
of understanding. Under the agreement, Toshiba and GE will jointly work on
product planning and promotion, strengthening product reliability and quality
and developing next-generation combined-cycle systems offering even higher
levels of thermal efficiency.

Commenting on the contract, Mr. Yoshihiro Aburatani, vice president of the
Thermal & Hydro Power Systems & Services Div. in Toshiba’s Power Systems
Company said: “Toshiba and GE’s LNG-fueled combined-cycle thermal power
generation system contributes to achieving the balanced power supply mix
essential for securing long-term stable power supply. I am sure it will be
adopted by many utilities.”

Mr. Victor R. Abate, vice president, Power Generation Products at GE Power &
Water said: “As the centerpiece of Toshiba’s power generation system, GE’s 9HA
Gas Turbine provides the highest combined-cycle efficiency, power plant
availability and unprecedented operational flexibility while also being more
economical in construction, operations and maintainability over the product
life cycle.”

The order from HEPCO is the first received since establishment of the
strategic alliance with GE. Through the alliance, Toshiba and GE will further
strengthen cooperation and expect to develop highly efficient and
environmentally friendly low-NO[x] and CO[2] emission combined-cycle thermal
power generation systems and plan to expand their thermal power generation
business globally.

To view photos to accompany this announcement, please click here and here.

About Toshiba

Toshiba is a world-leading diversified manufacturer, solutions provider and
marketer of advanced electronic and electrical products and systems. Toshiba
Group brings innovation to a wide range of businesses: digital products,
including LCD TVs, notebook PCs, retail solutions and MFPs; electronic
devices, including semiconductors, storage products and materials; industrial
and social infrastructure systems, including power generation systems, smart
community solutions, medical systems and escalators & elevators; and home
appliances.

Toshiba was founded in 1875, and today operates a global network of more than
590 consolidated companies, with 206,000 employees worldwide and annual sales
surpassing 5.8 trillion yen (US$61 billion). Visit Toshiba's web site at
www.toshiba.co.jp/index.htm.

About GE

GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in energy,
health and home, transportation and finance. Building, powering, moving and
curing the world. Not just imagining. Doing. GE works. For more information,
visit the company's website at www.ge.com.

About GE Power & Water

GE Power & Water provides customers with a broad array of power generation,
energy delivery and water process technologies to solve their challenges
locally. Power & Water works in all areas of the energy industry including
renewable resources such as wind and solar; biogas and alternative fuels; and
coal, oil, natural gas and nuclear energy. The business also develops advanced
technologies to help solve the world’s most complex challenges related to
water availability and quality. Power & Water’s six business units include
Distributed Power, Nuclear Energy, Power Generation Products, Power Generation
Services, Renewable Energy and Water & Process Technologies. Headquartered in
Schenectady, N.Y., Power & Water is GE’s largest industrial business.

Follow GE Power & Water and GE Power Generation on Twitter @GE_PowerWater and
@ge_powergen.

To track progress of the first 9HA Gas Turbine or view its journey, please
visit: www.gepower.com/efficiency or follow the turbine on Twitter:
@HArriet_GE.

^1 As of June 3, 2014. Toshiba survey.

Contact:

Toshiba Corporation
Midori Hara, +81-3-3457-2100
media.relations@toshiba.co.jp
or
GE Japan
Sumito Koike, +81-3-5544-3847
Sumito.Koike@ge.com
or
GE Power & Water
Kevin Norris, +1-678-844-4568
Kevin.Norris@ge.com
 
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