Industrial goods manufacturer General Electric CompanyGE recently inaugurated the world's most efficient combined-cycle power plant in Bouchain, France, inking its name in the Guinness Book of World Records for achieving an efficiency rate of up to 62.22%. The HA turbine power plant was put into operation in association with Électricité de France (EDF), one of the largest utility companies in the world.
GE's HA Turbine Plant
Indigenous technology from General Electric enables the turbine plant to reach full power in less than 30 minutes. This saves energy by allowing partners to respond quickly to fluctuations in grid demand, integrate renewable energy onto the grid and adapt quickly to weather changes. Consequently, the plant helps to conserve natural gas and reduce greenhouse gases, allowing France to meet Europe's climate and energy guidelines.
The plant will have a power generating capacity of 605 MW, which is equivalent to providing power supply to over 680,000 homes. The power plant is also equipped with General Electric's digital capabilities that use real-time data to deliver better plant outcomes with stable and efficient operations, while providing valuable predictive insights for higher reliability and optimization.
GE's Digital Prowess in Europe
General Electric had earlier announced steps to augment its digital presence in Europe and foster growth of the industrial ecosystem for the continent's overall development. The strategic move was largely fueled by the market predictions that digitization of products and services is likely to yield an excess of 110 million Euros in annual revenues in Europe over the next five years.
GENL ELECTRIC Price
General Electric also issued a research report that envisions Industrial Internet solutions as one of the driving forces in the European GDP, contributing about $1.7 trillion annually by 2025. By his own submission, Jeffrey Immelt, the CEO of the company, stated "GE is committed to helping Europe develop the building blocks for their Industrial Internet that will help the continent's companies turn information into insights and insights into outcomes." (Read More: GE Expands Industrial Internet for Digital Growth in Europe ).
The Bouchain plant is likely to script a new era of power generation technology and digital integration. General Electric's Power segment is a leading player in the power generation industry with state-of-the-art technologies and digital offerings that help in making power more affordable, reliable, accessible and sustainable.
General Electric currently carries a Zacks Rank #3 (Hold). Stocks that look promising in the same industry include China Merchants Holdings (International) Company Limited CMHHY , Koninklijke KPN N.V. KKPNF and Dycom Industries Inc. DY . While China Merchants Holdings and Koninklijke hold a Zacks Rank #2 (Buy), Dycom sports a Zacks Rank #1 (Strong Buy).
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