GE (NYSE: GE) launched a 16.5 MW NovaLT16 gas turbine for mechanical drive and power generation applications in the oil and gas industry. GE collaborated with TransCanada Corp. (TSX, NYSE: TRP) on the turbine design.
The turbine will provide up to 37 percent mechanical efficiency, which helps improve standards of efficient and reliable power generation and oil and gas plant compression applications, as well as pipeline compressions.
As a result of the collaboration, GE and TransCanada signed a memorandum of understanding to progress development of the gas turbine, including technical evaluation and negotiation of the terms and conditions for purchase.
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