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

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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 

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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.