Transelectrica signs MOU with GE Energy for major substation protection & control upgrade program

MOSCOW, RUSSIA, March 11, 2004 — GE Energy has signed a Memorandum of Understanding (MoU) with Transelectrica S.A., the transmission grid operator of Romania.

The MoU is for the proposed supply, delivery and installation of 11 fully-integrated protection and control solutions for high-voltage substations, with an estimated value of at least $22 million, GE announced at the second annual Russia Power Conference & Exhibition. This MoU was facilitated by the “Energy Co-operation Agreement” between the Governments of Romania and the United States signed last year.

The proposed protection and control solutions will be supplied and installed at a number of high-voltage substations as part of a planned upgrade of the transmission network by Transelectrica S.A. They will be similar to the three systems already delivered during 2003 and currently being commissioned. Once installed, the new systems will bring a higher level efficiency to Transelectrica’s operations.

Jean Constantinescu, director general, Transelectrica S.A., commented, “The control and protection systems we will implement in the 11 substations will fully meet the UCTE standards and the substations performance will be significantly improved.”

Bob Gilligan, general manager of Network Reliability Products and Services for GE Energy, commented, “This latest MoU is part of an ongoing project with Transelectrica. S.A. in support of its critical and strategic plans for the modernization of Romania’s power network. GE is providing leading edge technology in integrated substation protection & control systems that is at the heart of a modern infrastructure.”

Iulian Iancu, state secretary, Ministry of Economy and Trade, Dan Ionescu, GE regional executive for South East Europe, and Jonathan L. Marks, commercial attaché of the Embassy of the United States in Romania witnessed the signing.

About GE Energy

GE Energy (www.gepower.com) is a global supplier of power generation and energy delivery technology, with 2003 revenues of approximately $18.5 billion. Based in Atlanta, Georgia, GE Energy provides equipment, service and management solutions across the power generation, oil and gas, transmission and distribution, distributed power and energy rental industries.