GE 2005 Annual Report Download - page 13

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(13)
Energy and Energy Financial Services
Energy serves power generation, industrial, government and other customers worldwide with products and services
related to energy production, distribution and management. We offer wind turbines as part of our renewable energy
portfolio, which also includes hydropower, solar, and geothermal technology. We also sell aircraft engine
derivatives for use as industrial power sources. Gas turbines and generators are used principally in power plants for
generation of electricity and for industrial cogeneration and mechanical drive applications. We are a worldwide
supplier of gas turbines for Integrated Gasification Combined Cycle (IGCC) applications, having provided gas
turbines for a significant number of the world's operating IGCC plants. IGCC systems convert coal and other
hydrocarbons into synthetic gas which, after cleanup, is used as the primary fuel for gas turbines in combined-cycle
systems. IGCC systems produce fewer air pollutants compared with traditional pulverized coal power plants. We
sell steam turbines and generators to the electric utility industry and to private industrial customers for cogeneration
applications. Products also include portable and rental power plants. Nuclear reactors, fuel and support services for
both new and installed boiling water reactors are also a part of this segment. We provide our customers with total
solutions to meet their needs through a complete portfolio of aftermarket services, including equipment upgrades,
contractual services agreements, repairs, equipment installation, monitoring and diagnostics, asset management and
performance optimization tools, remote performance testing and Dry Low NOx (DLN) tuning. We continue to
invest in advanced technology development that will provide more value to our customers and more efficient
solutions that comply with today’ s strict environmental regulations.
Worldwide competition for power generation products and services is intense. Demand for most power
generation products and services is global and, as a result, is sensitive to the economic and political environment of
each country in which we do business. Regional load growth requirements and demand side management are
important factors. The availability of fuels and related prices have a large impact on demand.
Energy Financial Services offers structured equity, leveraged leasing, partnerships, project finance and
broad-based commercial finance to the global energy and water industries. We operate in a highly competitive
environment. Our competitors include banks, financial institutions, energy companies, and other finance and leasing
companies. Competition is based on price, that is interest rates and fees, as well as deal structure and terms. As we
compete globally, our success is sensitive to the economic and political environment of each country in which we do
business.
Oil & Gas
Oil & Gas offers advanced technology turbomachinery products and services for the production, transportation,
storage, refining, and distribution of oil and natural gas. We have leading technology in total pipeline integrity
solutions including analysis and pipeline asset management.
Transportation
Transportation provides technology solutions for customers in a variety of industries including railroad, transit,
mining, oil and gas, power generation, and marine. We serve customers in more than 100 countries. Our products
include high horsepower diesel-electric locomotives as well as parts and services for locomotives, including
locomotives manufactured by competitors.
With the launch of the Evolution Series™ locomotive, we created our most technologically advanced, most
fuel-efficient, diesel locomotive, while meeting or exceeding the U.S. Environmental Protection Agency’ s Tier II
requirements. Commercial production of the Evolution Series™ locomotive began in January 2005.