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GE WILMINGTON, N.C., Nov 24, 2008 — BUSINESS WIREJack Fuller, President and CEO of GE Hitachi Nuclear Energy (GEH), will lead a 50-member U.S. trade mission to India Dec. 2-9, the first civilian nuclear energy delegation to visit India since the nations signed the 123 Agreement ending a three-decade ban on civilian nuclear cooperation.

“The trade mission is a historic step forward in promoting civilian nuclear cooperation between the world’s largest democracies,” Fuller said. “This is the beginning of a new chapter, with important steps ahead. We look forward to exploring opportunities that hold great promise, not only for our company and shareholders, but also economic opportunities that will create jobs, increase energy availability and improve the lives of the people of our two great nations.”

Fuller and trade mission participants will meet with senior Indian government officials and key public-sector executives in New Delhi, Hyderabad and Mumbai. The trade mission, certified by the U.S. Department of Commerce, is sponsored by the U.S.-India Business Council in partnership with the Nuclear Energy Institute.

GE Hitachi Nuclear Energy – GE’s global nuclear alliance with Hitachi Ltd. of Japan – is eager to explore new business opportunities for civilian nuclear power in India, including new reactors and plant services, as well as providing fuel for existing and new nuclear power plants. GEH also is focusing on developing business relationships with Indian companies to enhance the capacity of the nation’s civilian nuclear program.

The trade mission builds on the momentum created by approval of the 123 Agreement, which followed authorization by the 45-nation Nuclear Suppliers Group. The U.S. and Indian governments signed the 123 Agreement Oct. 10, creating the framework to enable U.S. firms to provide nuclear technology and fuel to India. GE played a key role in the success of the 123 Agreement, actively encouraging lawmakers to assure its passage.

GE’s relationship with India dates to 1902, when GE installed India’s first hydropower plant. Today, GE’s global businesses have a prominent presence in the country, participating in a wide range of manufacturing, services and technology sectors. GE’s revenues in India are approximately $2.6 billion, and GE employs more than 14,500 people across the country.

GE has a long history of working with India’s respected civilian nuclear energy industry, in the 1960s having built the Tarapur 1 & 2 units that started the nation’s civilian nuclear energy program.

Nuclear energy can help India meet the pressing need for increased energy output in one of the world’s fastest growing economies, while avoiding the emission of greenhouse gasses. India has plans to expand its electricity generation from nuclear sources more than tenfold over the next 20 years, from 4.1 GW today to approximately 40-50 GW by 2030. Of that total, an estimated 30-40 GW would come from imported reactor technologies.

GEH is working with the Nuclear Power Corporation of India Ltd. to identify a specific site for GEH’s Advanced Boiling Water Reactor (ABWR) technology. Depending on site conditions, GEH could potentially deploy six to eight ABWRs for a total of 10,000 MWe.

The ABWR is the world’s first and only Generation III reactor design with proven construction and operating experience, and the first to be granted a license by the U.S. Nuclear Regulatory Commission. The ABWR, which also is licensed in Japan and Taiwan, has been built successfully using advanced modular construction techniques. In Japan, four ABWR units are in operation, four more are under construction, and additional ABWR units are in the planning stages.

About GEH Nuclear Energy

Based in Wilmington, N.C., GEH is a world-leading provider of advanced reactors and nuclear services. Established in June 2007, GEH is a global nuclear alliance created by GE and Hitachi to serve the global nuclear industry. The nuclear alliance executes a single, strategic vision to create a broader portfolio of solutions, expanding its capabilities for new reactor and service opportunities. The alliance offers customers around the world the technological leadership required to effectively enhance reactor performance, power output and safety.

SOURCE: GEH Nuclear Energy

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