General Electric
(
GE
) and
Toshiba Corporation
recently signed a memorandum of understanding (MOU) to
collaborate for high-efficiency combined-cycle power projects
across the world. Additionally, the two companies intend to team
up to develop combined-cycle power generation technology and
advanced steam turbine technology with high levels of thermal
efficiency.
The global alliance is expected to be beneficial for both the
companies which already have in-place agreements for 50-Hz and
60-Hz projects in Japan as well as in other parts of Asia. The
combined entity recently won a contract to supply Flex Efficiency
technology to Chubu Electric Power's Nishi Nagoya thermal power
plant in Japan. GE's Flex Efficiency technology harnesses natural
gas to ensure efficient usage of renewable energy. The Flex
Efficiency portfolio will reduce emissions and its flexibility
enable utilities to deliver power quickly as per the need, thus
balancing the grid cost effectively.
The customers will also reap the benefits of the sophisticated
engineering, procurement and construction solutions of Toshiba as
well as new technology of the Flex Efficiency Portfolio, which
will meet the energy demands around the globe. The alliance will
have high-efficiency steam turbine and generator technologies
that will entail high plant efficiency, better engineering
solutions and better fuel efficient plants in the future.
General Electric is one of the most diversified technology and
financial service corporations in the world, competing with
industry big wigs such as
ITT Corporation
(
ITT
) and
Federal Signal Corp
(
FSS
). Its segments include Power & Water, Oil & Gas, Energy
Management, Aviation, Healthcare, Transportation, Home &
Business Solutions, and GE Capital. GE Power & Water provides
customers with a wide array of power generation, energy delivery
and water process technologies and helps them in addressing the
challenges locally.
General Electric currently has a Zacks Rank #4 (Sell). One of its
competitors,
Tyco International Ltd
(
TYC
) carries a Zacks Rank #1 (Strong Buy).
FED SIGNAL CP (FSS): Free Stock Analysis
Report
GENL ELECTRIC (GE): Free Stock Analysis
Report
ITT CORP (ITT): Free Stock Analysis Report
TYCO INTL LTD (TYC): Free Stock Analysis
Report
To read this article on Zacks.com click here.
Zacks Investment
Research