TOKYO--(BUSINESS WIRE)--GE (NYSE: GE) and Toshiba Corporation (TOKYO: 6502) signed today a memorandum of understanding (MOU) to form a global strategic alliance, under which the two companies would jointly develop select combined-cycle power generation projects around the world. In addition, under the MOU, the two companies will explore the formation of a strategic joint venture for the development of next-generation combined-cycle power projects with higher levels of thermal efficiency. “Toshiba's sophisticated engineering, procurement and construction solutions have been well recognized by customers all over the world. Such capability, together with GE's FlexEfficiency portfolio, will enable the most efficient combined-cycle power plant” Toshiba and GE have cooperated in gas turbine combined-cycle power generation systems since 1982 and have existing agreements to pursue 50-Hz and 60-Hz projects together in Japan and in key regions in Asia. Today’s announcement builds on that long, successful history of collaboration by targeting projects around the world that the companies can jointly develop and by exploring joint development of future combined-cycle technology.
