General Electric Company and Green Waste Energy announced they have signed a frame agreement for GE to supply an undetermined number of ecomagination qualified Jenbacher gas engines to power a series of Advanced Recycling and Energy Conversion (AREC) plants that GWE's development subsidiary, Green Waste Energy Development (GWED), plans to build around the world. GWED uses C6 Technologies' proprietary and patent-pending, non-burn waste-advanced pyrolysis technology in its AREC projects. The C6 technology can transform a wide range of wastes into "syngas," which then can be used in gas engines to generate cleaner electricity or produce "greener" transportation fuels including diesel and jet fuel. C6T licenses its technology to developers worldwide. Under terms of the agreement, GE will provide GWED with Jenbacher J620 gas engines, which will use the syngas produced at GWED's waste-gasification facilities to generate renewable electricity. Each installed gas engine will generate nearly 2 megawatts (MW) of reliable on-site power. GE also will provide technical support for GWED's installed engine fleet. GWED has committed to use GE's Jenbacher gas engines worldwide, including for pending projects in the United States, the United Kingdom, Africa and Asia. The frame agreement will remain in place until December 2013 and can be renewed if both parties agree. GWED has signed an agreement in partnership with J.M. Clarke and Sons to build a waste-to-energy power facility at Pebble Hall in Theddingworth, U.K. The facility will use up to six Jenbacher J620 gas engines and provide approximately 8-MW per hour to the electrical grid. Additional projects are nearing agreement.

China Xian Electric Group is in talks to acquire Prolec GE, S. de R.L. de C.V. a joint centure company of General Electric Company (NYSE:GE) and Xignux SA de CV, for as much as $1 billion, said three people with knowledge of the matter. Xian Electric's discussions to acquire Prolec GE are at an early stage, said one of the people, who asked not to be identified because the information is private. GE owns 49.99% of Prolec GE. Seth Martin, Spokesman for GE, and Hu Gengmin, Spokesman for XD Group declined to comment. Jose Cantu, an executive at Xignux, didn’t immediately respond to an e-mail seeking comment by Bloomberg.

General Electric Company (NYSE:GE) is planning the sale of its Australian insurance unit for AUD 300 million, according to a person with knowledge of the transaction. Nomura Holdings Inc. has started looking for potential buyers for the unit.