General Electric Company (GE - Analyst Report) has a big role to play in the 2014 Winter Olympic Games as two of its advanced-technology aeroderivative gas turbines will provide the necessary energy requirements to this event that is scheduled to take place in Sochi, Russia. Generating about 180 megawatts of electricity, these gas turbines are expected to meet the on-demand base load and peak load power requirements for the Olympic venues.
The gas turbines are located at the Dzhubginskaya thermal power plant (TPP) of Russian energy company Inter RAO, which offers uninterrupted electricity between 110 kV and 220 kV grids to regional customers. Back in 2011, General Electric had set the TPP to power the Krasnodar region
The two aeroderivative gas turbines used in this project are the first LMS100-PB units that are in service across the globe. The LMS100-PB technology enables these turbines to start up in less than 10 minutes. The turbines also feature General Electric’s DLE 2.0 Dry Low Emissions technology, which eliminates any external need for water injection to reduce emissions.
General Electric is one of the largest and the most diversified technology and financial services corporations in the world. With products and services ranging from aircraft engines, power generation, water processing, and security technology to medical imaging, business and consumer financing, media content, and industrial products, the company serves over 100 million customers worldwide.
Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions, and GE Capital. The 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. This segment also sells surface and sub-sea drilling and production systems, floating production platform equipment, compressors, turbines, turbo expanders, and high pressure reactors to oil and gas companies, as well as provides related services.
General Electric currently has a Zacks Rank #3 (Hold). Other companies in the industry that are worth mentioning include Tyco International Ltd. (TYC - Analyst Report), Hutchison Whampoa Ltd and Marubeni Corporation (MARUY), each having a Zacks Rank #2 (Buy).