GE Power & Water, a segment of
General Electric Company
), declared that its distributor Clark Energy has won a contract to
deliver 19 new Jenbacher gas engines to Australia Pacific LNG.
Clark Energy is General Electric's authorized distributor for its
Jenbacher gas engines in Australia. The three-megawatt (MW)
Jenbacher J620 gas engines will be used at two on-site power
projects in rural Queensland. These engines will generate around 57
MW of reliable electricity at two coal seam gas (CSG) processing
facilities, presently under construction.
The ownership, operation and maintenance of both projects will be
conducted by Clarke Energy, supported by its network of field
service technicians and experienced staff. Both the projects will
employ Clarke Energy's modular power station concept, wherein the
gas engine generation set is placed in a separate enclosure to
ensure safer and more efficient operation and maintenance.
Per the agreement, Clarke Energy is required to design and build a
fully operational temporary power station, with 9 Jenbacher gas
engines generating 27 MW at Eurombah Creek and 10 units generating
30 MW at Reedy Creek. The setup will use locally extracted coal
seam gas in order to supply constant power supply to the
facilities, until the installation of permanent electrical
Australia Pacific LNG is an incorporated joint venture between
Origin Energy, Sinopec and ConocoPhillips. This project is a step
forward in the development of CSG processing facilities in
With rapid development of CSG and offshore natural gas reserves,
Australia is emerging as a key alternative LNG supplier to Asia and
other areas of the world. Consequently, Clark Energy's on-site
power plant projects are turning out to be a significant growth
driver for GE Power & Water, as it explores new profitable
avenues while offering seamless life-cycle services to customers.
Headquartered in Cincinnati, OH, GE Power & Water's Distributed
Power business is a foremost provider of power equipment and
engines and services, specializing in power generation at or near
the point of use. As Australia further develops its energy
infrastructure, General Electric is witnessing healthy demand for
other power, water filtration and oil and gas production
technologies and services as well.
General Electric currently holds a Zacks Rank #3 (Hold). Some
better-ranked stocks worth considering in the industry include
Icahn Enterprises, L.P.
Noble Group Ltd.
), each carrying a Zacks Rank #1 (Strong Buy).
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