General Electric
Co.
(
GE
) recently announced that it has received a contract from German
project developer Energiekontor AG to build 41 wind turbines. GE
will provide 2.75-103 wind turbines, which offer a large 165 foot
blade for better and more efficient energy capture along with noise
reduction feautures.
Energiekontor also signed a service contract with GE, which
covered maintenance, routine inspections, remote monitoring of the
wind turbines and also providing spare parts for them. As per this
contract, GE will provide on-site technicians with exhaustive
instruction manuals to make sure the bottlenecks regarding
troubleshooting and fault rectification are easily solved and
required services catered to.
After this venture, the new units created shall produce 250
million kilowatts of electricity annually, which would cater to
more than 75,000 German households. This adds another feather to
GE's cap in the European market.
Energiekontor AG is a wind power project developer, which
currently has operations all across Europe. It currently has
investments of over €760 million for building wind farm projects
with 79 wind parks already operational.
GE recently reported its fourth quarter and full year financial
results for 2011. Revenues came in at around $147 billion for the
year, which slightly dropped around 2% annually. However,
management, still quite optimistic about its outlook for 2012, has
showed enough vigor and determination with regard to varied product
innovations and market share proliferation strategies.
Even though GE is a formidable giant in its industry, it
continues to face stiff competition from
Exchange Income Corp.
,
LSB Industries, Inc.
(
LXU
) and
ABENGOA SA ADR
.
The current Zacks Consensus Estimates for the first quarter of
2012 and for fiscal 2012 are 33 cents and $1.55, respectively. The
company currently retains a Zacks #4 Rank, which translates into a
short-term 'Sell' rating. However, we presently maintain our
'Neutral' recommendation on the stock.
GENL ELECTRIC (
GE
): Free Stock Analysis Report
LSB INDS INC (
LXU
): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment
Research