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TRANSCRIPT
Mike Barrett
March 24, 2004
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Disclaimer
This presentation is being supplied to you solely for your information and may not be reproduced, furtherdistributed to any other person (whether within or outside your organisation) or published, in whole or in part, forany purpose.
This presentation is not an offer to sell or the solicitation of an offer to buy nor shall there be any sale ofsecurities in any jurisdiction, including the United States, in which such offer, solicitation or sale would beunlawful prior to registration or qualification under the securities laws of such jurisdiction. Securities may not beoffered or sold in the United States absent registration or an exemption from registrations.
Nothing contained in this document should be construed as a definitive statement regarding the Company’sfinancial condition or results of operations at or for the fiscal year ending on March 31, 2004 and the subsequentfinancial years.
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� The GT24/GT26 Story
� What is the experience with the mature fleet ?
� What advantages are already demonstrated in the field?
� What improvements are available today?
� What do our customers say today?
� Summary
Agenda
4Some facts about GT24/26
The GT24/GT26 Story
� A GT26 in combined cycle, produces enoughpower (400 MW) to provide energy for500,000 people.
� The turbine inlet temperature is 1280°C, closeto the melting point of the blades which requireadvanced cooling methods.
� The 120 ton shaft, with a diameter of more than3 metres, rotates 50 times per second.
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The GT24/GT26 Story
HRSGG STSTGTGT
Generator
Clutch
Condenser
GT24 Gas Turbine
Gas TurbineSteam Turbine
A typical Single-Shaft Arrangement in Combined-Cycle Power Plant
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Not to scale
Front runners
Fleet
2001Stabilization
Out
put
2000Interim Operation Concept
2002 UpgradePerformance Test
LPT Row 2 Modification
(cooling air andTemp reduction)
Temperature reduced further
Upgradewithouttemp
increase
2003Field upgrades
2004Ongoing fleetimplementation
Ongoing fleetupgrades
The GT24/GT26 Story
Recovery profile
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March 03 Feb 04
Settlements agreed or not needed 61 68
In negotiation 12 12
In litigation 7 0
Total engines 80 80
The GT24/GT26 Story
� 73 units in operation
� Commercial negotiation :
Update on commercial operation
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73 Units in commercial operation
2 Units in commissioning (Milford, Senoko II)
1 Units in construction (Senoko II)
4 Units in suspension (Staythorpe)
80 Units Total
The GT24/GT26 Story
GT24/GT26 Fleet Commercial Status
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� The GT24/GT26 gas turbine fleet has now accumulated over850 000 operating hours
� Performance & Lifetime improvements deployed with positiveresults
� 73 machines in operation with world class reliability andavailability and best-in-class emissions levels
� Commercial implications quantified & mitigation plans in place
� The engines are supplying enough electricity to meet the needsof 20 million people in 17 countries world-wide.
The GT24/GT26 Story (1)
Where are we today?
10We are regaining Customer Confidence
� Cartagena CCPP in Spain (�680
million)
� Gas Natural, an existing GT26
customer
� Turnkey combined-cycle power plant
(1,200 MW) including three GT26 gas
turbines and associated O&M contract
The GT24/GT26 Story (2)
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� The GT24/GT26 Story
� What is the experience with the mature fleet ?
� What advantages are already demonstrated in the field?
� What improvements are available today?
� What do our customers say today?
� Summary
Agenda
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� 73 units in commercial operation� + 3 units in hot commissioning (2x Milford, 1x Senoko II)
� + 1 GT26 Gas Turbine Test Centre
� Fleet Experience� Simple Cycle, Combined Cycle and Repowering
� Single Shaft and Multi Shaft
� From “Daily starts and stops” to “base load” operating plants� Natural gas (also with high C2+), oil with online fuel switch-over
� Power Augmentation (Inlet cooling)
What is the experience with themature fleet?
Over 850’000 operating hours (leader >43’000), >24’000 starts,98+% GT reliability
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What is the experience with themature fleet?Accumulating Experience with the GT24/GT26 fleet:
Approaching 1 Million Operating Hours
0
100000
200000
300000
400000
500000
600000
700000
800000
900000
1000000
1100000
1200000
Sep-95 Mrz-96 Sep-96 Mrz-97 Sep-97 Mrz-98 Sep-98 Mrz-99 Sep-99 Mrz-00 Sep-00 Mrz-01 Sep-01 Mrz-02 Sep-02 Mrz-03 Sep-03 Mrz-04
Ope
ratin
g H
ours
GT24/GT26 Fleet accumulating at around30’000 Operating Hours per month
250’000 OH250’000 OH
1st GT26B1st GT26B
500’000 OH500’000 OH
1’000’000 OH1’000’000 OH
850’000 OH 850’000 OH
Cumulative Fleet Operating Hours
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What is the experience with themature fleet?
TOCOPILLA 1xKA26-1TOCOPILLA 1xKA26-1
DOCK SUD 1xKA26-2DOCK SUD 1xKA26-2
RDK4 1 xKA26RDK4 1 xKA26
Gas Turbine Test Centre,1xGT26
Gas Turbine Test Centre,1xGT26
GILBERT 1xGT24BURGIN 2xGT24AGAWAM 1xKA24-1MIDLOTHIAN 4xKA24-1ISLAND COGEN 1xKA24-1LAKE ROAD 3xKA24-1MILFORD 2xKA24-1BLACKSTONE 2xKA24-1BAYSIDE 1xKA24-1HAYS 4xKA24-1MIDLOTHIAN II 2xKA24-1BELLINGHAM 2xKA24-1LA PALOMA 4xKA24-1
GILBERT 1xGT24BURGIN 2xGT24AGAWAM 1xKA24-1MIDLOTHIAN 4xKA24-1ISLAND COGEN 1xKA24-1LAKE ROAD 3xKA24-1MILFORD 2xKA24-1BLACKSTONE 2xKA24-1BAYSIDE 1xKA24-1HAYS 4xKA24-1MIDLOTHIAN II 2xKA24-1BELLINGHAM 2xKA24-1LA PALOMA 4xKA24-1
PORYONG 4 xKA24-2PORYONG 4 xKA24-2
HAI FU, 2xKA24-2HAI FU, 2xKA24-2
TARANAKI 1 xKA26-1TARANAKI 1 xKA26-1
CHIBA MILL,1xKA26-1
CHIBA MILL,1xKA26-1
ROCKSAVAGE 1xKA26-2ENFIELD 1xKA26-1SHOREHAM 1xKA26-1CORYTON 1xKA26-2STAYTHORPE 4xKA26-1
ROCKSAVAGE 1xKA26-2ENFIELD 1xKA26-1SHOREHAM 1xKA26-1CORYTON 1xKA26-2STAYTHORPE 4xKA26-1
SENOKO 1xKA26SENOKO II 2xKA26SENOKO 1xKA26SENOKO II 2xKA26
BESOS 2xKA26-1SAN ROQUE 2xKA26-1CASTEJON 1xKA26-1
BESOS 2xKA26-1SAN ROQUE 2xKA26-1CASTEJON 1xKA26-1
BOWIN 2xKA26-1BANG BO 1xKA26-1BOWIN 2xKA26-1BANG BO 1xKA26-1
TERMOBAHIA 1xKA24-1TERMOBAHIA 1xKA24-1
SWANBANK 1xKA26-1SWANBANK 1xKA26-1
RINGSEND 1 xKA26-1RINGSEND 1 xKA26-1
MONTERREY 2xKA24-1MONTERREY III 4xKA24-1ROSARITO 2xKA24-1HERMOSILLO 1xKA24-1
MONTERREY 2xKA24-1MONTERREY III 4xKA24-1ROSARITO 2xKA24-1HERMOSILLO 1xKA24-1
Orders of 51 GT24, 29 GT26 and 1 GT26 in the test centre
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Five GT26B gas turbines have the highestnumber of operating hours in Spain !
San Roque 1
Besos 4
Besos 3San Roque 2
Castejon 1
Source: Boletín Estadístico de Energía Eléctrica - October 2003, No. 65
How do they operate?
What is the experience with themature fleet?
Leading Performance
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� The GT24/GT26 Story
� What is the experience with the mature fleet ?
� What advantages are already demonstrated in the field?
� What improvements are available today?
� What do our customers say today?
� Summary
Agenda
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Compressor
EV Combustor
SEV Combustor
High Pressure Turbine
Low Pressure Turbine
What advantages are alreadydemonstrated in the field?
EV = EnVironmentalSEV = Sequential EnVironmental
Main Components of GT24/GT26 Architecture
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What advantages are alreadydemonstrated in the field?
� Quick start-up times (45 minutes to full load)
� Part load operation down to 40% load with high efficiency
� Sequential combustion gives unique advantages
� Low emissions <25 vppm and low pulsations
� Constant exhaust temperature for optimal Combined Cycle layout
How do they operate?
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� Advantages� High Power Density (Output / kg inlet air), small frame, small parts� Low Emissions on fuel gas and on fuel oil� High part load efficiency� Two degrees of freedom giving more combustion stability
What advantages are alreadydemonstrated in the field?
SEV Burner
Why Sequential Combustion?
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� The GT24/GT26 Story
� What is the experience with the mature fleet ?
� What advantages are already demonstrated in the field?
� What improvements are available today?
� What do our customers say today?
� Summary
Agenda
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� A Simple Cycle Power Station
� Delivers more than 280 MW ofpower to the Swiss grid
� Includes dual fuel and non-standard gas capabilities
� More than 2000 additionalmeasuring points
� Is used for the state-of-the-arttesting which includes
� functionality testing
� protection test
� rainbow tests
� thermal paint tests
� compressor surge
What improvements areavailable today?
� Full Engine Validation
GT26 Engine Test Facility at Birr
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� Open books in sharing gas turbine technologiesof both parties including but not limited to:� design reports� guidelines, processes,� tools,� test results
� Rolls Royce engines operate using:� high temperature technologies� advance aerodynamics� high strength/high temperature materials
What improvements areavailable today?
� Benefits & Impact
HotterregionsHotterregions
CoolerregionsCoolerregions
Rolls-Royce Cooperation
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� The GT24/GT26 Story
� What is the experience with the mature fleet ?
� What advantages are already demonstrated in the field?
� What improvements are available today?
� What do our customers say today?
� Summary
Agenda
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CCPP TARANAKI
"The Taranaki Plant has reached the goal of being the mostreliable low cost, base load thermal generator in NZ;a direct result of the commitment and the willingnessof the ALSTOM Staff to contribute and to "go the extra mile."
Barrie Almond - Plant Manager – Taranaki Combined Cycle, 16 September 2003
What our customers say today?
� CCPP TARANAKI
� 360 MW Power Plant in New Zealand
� Owned by Contact Energy Ltd.
� KA26-1 Single Shaft Power Train with1 x GT26AB
� Commercial operation since July 1998
Satisfied Customers
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"The Castejon plant is running at 99% and is totally reliable.If you ask me if there is anything to complain about,the answer is ‘no’.”
Managing Director, Hydrocantabrico, 20 October 2003
CCPP Castejon
� CCPP Castejon
What our customers say today?
� 400 MW Power Plant in Spain
� owned by HYDROCANTABRICO
� KA26-1 Single Shaft with1 x GT26B
� Commercial operation sinceSeptember 2002
Satisfied Customers
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"Dramatic improvement in how ALSTOM performs in the management ofits very difficult technical and commercial issues. The organization hasregained our confidence."
Chuck Davis, Managing Director Intergen UK, 5 November 2003
� CCPP Rocksavage
What our customers say today?CCPP Rocksavage
� 770 MW Power Plant in United Kingdom
� owned by INTERGEN
� KA26-2 Multi-Shaft with 2 x GT26AB
� Commercial operation since July 1998
Satisfied Customers
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� The GT24/GT26 Story
� What is the experience with the mature fleet ?
� What advantages are already demonstrated in the field?
� What improvements are available today?
� What do our customers say today?
� Summary
Agenda
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GT24/GT26 Concluding ...
� Total of over 850,000 operating hours experience
� Advantages of the GT24/GT26 seen in the field
� Excellent part load efficiency down to 40% GT load
� Very low emissions
� Very low combined cycle start-up times
� Rigorous Validation led to engine achieving >98% reliability
� Performance of GT24B and GT26B with upgraded compressorconfirmed in the field with customer acceptance
� Continuous improvement program with partner Rolls-Royce
� Satisfied Customers
� Selling again a competitive product
We are back !
Summary
www.alstom.com