GE Wins $1.9 billion order from UK's new nuclear plant

General Electric said it will receive $1.9 billion for a contract to supply steam turbines, generators, and other equipment to the Hinkley Point C project, the United Kingdom’s first new nuclear power plant in decades.

By approving Hinkley Point on Thursday, the UK government cleared the way for 

GE 

to begin building two 1,770 MW Arabelle steam turbines and generators and supplying about 7% of the UK’s power generation needs for 60 years, GE said. They will replace older coal-fired plants, GE said. Arabelle is steam turbine technology originally with Alstom that GE bought last year.

New nuclear projects are slowly recovering after a steep drop following the 2011 Fukushima accident in Japan. GE is also bidding on nuclear competitions in Finland, South Africa, Saudi Arabia, Egypt, India, and China.