Diversified industrial conglomerate
General Electric Company
) was recently selected by SSE Renewables - the largest renewable
power producer in U.K, to supply 94 megawatts (MW) of capacity to
power the Dunmaglass Wind Farm in Scotland.
Under this agreement, General Electric will provide SSE with 33,
2.85 MW wind turbines to meet its renewable energy targets of the
country. General Electric specifically designed these turbines with
a 70-meter tower height for the project, which meets the
restrictions of tip height imposed by the local planning authority.
The wind farm project should help the Scottish government to meet
its renewable electricity generation target for renewable to
generate equivalent of 100% of gross annual consumption by 2020
along with a new target of 50% by 2015. With this strategic move,
General Electric will expand its operations in the U.K. and deliver
specialized services to SSE.
Also, subsidiaries of General Electric and EON SE (EOAN) - the
biggest utility company of Germany, formed a 50/50 investment
partnership to operate Grandview Phase I, a 211MW wind farm under
construction in Texas. EON is expected to manage construction of
the wind farm with operations likely to begin in
The project will include 118, 1.7 MW turbines provided by
General Electric under a five-year agreement. The wind farm will
supply power to the new renewable energy zones infrastructure in
Texas and also create significant employment opportunities. Once
operational, the wind farm will meet the energy requirements of
General Electric provides cutting edge wind turbine technology
through which wind energy can be harvested more efficiently,
creating more value for its customers. 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. The
GE Power & Water segment produces gas, steam and aero
derivative turbines; generators; combined cycle systems; and
renewable energy solutions, as well as provides water treatment
services and equipment.
General Electric currently has a Zacks Rank #3 (Hold). Other
stocks that look promising and are worth a look include
Noble Group Limited
), carrying a Zacks Rank #1 (Strong Buy),
United Technologies Corp.
), both carrying a Zacks Rank #2 (Buy).
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