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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Harold S. who wrote (64307)	4/11/2000 3:58:00 PM
From: Think4Yourself	Respond to of 95453

Another HUGE order for NG fired turbines... 04/11/00 11:32 GE Wins $3.7 Billion Turbine, Service Order From FPL (Update1) By Rachel Layne Schenectady, New York, April 11 (Bloomberg) -- General Electric Co., the world's biggest maker of power-plant turbines, said it won a contract valued at about $3.7 billion to supply gas turbines, parts and services to FPL Group Inc. GE will deliver 66 natural gas-fired turbines starting this year through 2004, and provide service through 2011. The turbines will add 4,600 megawatts, enough to light 4.6 million homes. The contract will help FPL meet growing electricity demand at its Florida Power & Light Co. unit, Florida's largest utility. FPL's power-plant development business, FPL Energy, will use some of the turbines as it tries to boost sales to utilities and large energy users outside Florida. GE Power Systems, based in Schenectady, New York, accounted for more than $10 billion of General Electric's $111.6 billion in sales last year. The service contracts help GE Power lock in a stream of revenue over time. The division this year has won contracts worth at least $6 billion over several years to supply turbines and services to Charlotte-based Duke Energy Corp., Northern States Power Co.'s NRG Energy Inc. unit and closely held Panda Energy International Inc. GE Power Systems expects about $13.5 billion in revenue this year. FPL got most of its $6.4 billion in 1999 sales from its utility, which has 3.8 million customers, mostly along Florida's eastern coast. Profit is growing faster at FPL Energy. It earned $58 million last year, up 81 percent from a year earlier.