General Electric Company
) recently signed an agreement with Green Waste Energy, a
privately-held U.S.-based developer of Advanced Recycling and
Energy Conversion plants, to supply Jenbacher J620 gas engines to
generate renewable electricity. The gas engines will be utilized
by one of its subsidiaries Green Waste Energy Development (GWED)
for its waste-to-energy projects. GWED remains committed to use
GE's Jenbacher gas engines in the U.S., the U.K., Africa and
Asia. The companies can renew the agreement after Dec 2013 on
GE's Jenbacher gas engines are an integral part of GE's
ecomagination portfolio, which aims to provide products viable
for the environment, have innovative power solutions and help in
maximizing the resources with greater efficiency. The Jenbacher
gas engines are cost-effective with reliable performance, greater
efficiency and have impressive fuel flexible power solutions that
promote regional energy security.
A medium size Advanced Recycling and Energy Conversion (AREC)
plant has a daily capacity to convert 1,000 tons of solid waste
into approximately 600-megawatt of electricity per day. This is
sufficient to power 24,000 U.S. homes with cleaner electricity.
With this agreement, GWED will be able to generate renewable
electricity through its gas engines. GE's gas engines are well
suited to provide alternative energy solutions thereby meeting
global energy goals for renewable power generation. Additionally,
GWED signed an agreement with J.M. Clarke and Sons to build a
waste-to-energy power facility at Pebble Hall in Theddingworth,
U.K., which will use six Jenbacher J620 gas engines.
General Electric is one of the most diversified technologies
and financial service corporations in the world. Its segments
include Power & Water, Oil & Gas, Energy Management,
Aviation, Healthcare, Transportation, Home & Business
Solutions, and GE Capital. GE Power & Water produces gas,
steam and aero derivative turbines; generators; combined cycle
systems; and renewable energy solutions, as well as water
treatment services and equipment.
General Electric currently has a Zacks Rank #4 (Sell). Other
stocks that look promising and are worth a look now are
Honeywell International Inc
Macquarie Infrastructure Company LLC
), each carrying a Zacks Rank #2 (Buy).
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