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General Electric (GE) Wins Gas Turbine Contract From SFOE
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General Electric Company (GE - Free Report) arm GE Gas Power recently announced that it secured a deal from the Swiss Federal Office of Energy (SFOE) to rent out its eight TM2500 mobile aeroderivative gas turbine units to meet Switzerland’s electricity demand in critical times of the winter season.
GE’s TM2500 units will be installed at its manufacturing center in Birr, located 30 kilometers east of Zurich. These can be powered by different fuel sources like hydrogen, biogas or biodiesel and other renewable energy-produced synthetic fuels. The units can be fully powered in a short span, enabling users to meet peak demand and also minimize energy wastage when demand is lower.
General Electric aims to deliver about 250 megawatts (MW) of power to the grid starting February 2023. Per the deal, GE will install, operate and maintain the plant through 2026.
“The temporary reserve power plant installed in Birr will have dual fuel capability, and can operate on both gaseous and liquid fuels, and switch in between” said Christian Verhoeven, chief technology officer, GE Gas Power Switzerland. “GE’s TM2500 gas turbines can run on several different fuel sources including hydrogen, biogas or biodiesel and synthetic fuels produced with renewable energy, the most readily available in the area, and with lower-carbon footprints, such as synthetic fuels/SAF (sustainable air fuels). This is a crucial capability that our technology offers today for tomorrow’s sustainable power generation.”
Zacks Rank and Stocks to Consider
General Electric currently carries a Zacks Rank #3 (Hold). Some better-ranked companies are discussed below:
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Carlisle Companies (CSL - Free Report) has a Zacks Rank #2 (Buy), currently, and a trailing four-quarter earnings surprise of 28%, on average.
In the past 60 days, Carlisle’s earnings estimates have increased 0.1% for 2022. The stock has rallied 15.4% in the past three months.
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In the past 60 days, IDEX’s earnings estimates have increased 0.1% for 2022. The stock has rallied 11.8% in the past three months.
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General Electric (GE) Wins Gas Turbine Contract From SFOE
General Electric Company (GE - Free Report) arm GE Gas Power recently announced that it secured a deal from the Swiss Federal Office of Energy (SFOE) to rent out its eight TM2500 mobile aeroderivative gas turbine units to meet Switzerland’s electricity demand in critical times of the winter season.
GE’s TM2500 units will be installed at its manufacturing center in Birr, located 30 kilometers east of Zurich. These can be powered by different fuel sources like hydrogen, biogas or biodiesel and other renewable energy-produced synthetic fuels. The units can be fully powered in a short span, enabling users to meet peak demand and also minimize energy wastage when demand is lower.
General Electric aims to deliver about 250 megawatts (MW) of power to the grid starting February 2023. Per the deal, GE will install, operate and maintain the plant through 2026.
General Electric Company Price
General Electric Company price | General Electric Company Quote
“The temporary reserve power plant installed in Birr will have dual fuel capability, and can operate on both gaseous and liquid fuels, and switch in between” said Christian Verhoeven, chief technology officer, GE Gas Power Switzerland. “GE’s TM2500 gas turbines can run on several different fuel sources including hydrogen, biogas or biodiesel and synthetic fuels produced with renewable energy, the most readily available in the area, and with lower-carbon footprints, such as synthetic fuels/SAF (sustainable air fuels). This is a crucial capability that our technology offers today for tomorrow’s sustainable power generation.”
Zacks Rank and Stocks to Consider
General Electric currently carries a Zacks Rank #3 (Hold). Some better-ranked companies are discussed below:
Enerpac Tool Group Corp. (EPAC - Free Report) presently sports a Zacks Rank #1. EPAC delivered a trailing four-quarter earnings surprise of 3.4%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks.
EPAC’s earnings estimates have increased 9.1% for fiscal 2023 (ending August 2023) in the past 60 days. Its shares have gained 8.1% in the past three months.
Carlisle Companies (CSL - Free Report) has a Zacks Rank #2 (Buy), currently, and a trailing four-quarter earnings surprise of 28%, on average.
In the past 60 days, Carlisle’s earnings estimates have increased 0.1% for 2022. The stock has rallied 15.4% in the past three months.
IDEX Corporation (IEX - Free Report) presently has a Zacks Rank of 2. IEX’s earnings surprise in the last four quarters was 2.1%, on average.
In the past 60 days, IDEX’s earnings estimates have increased 0.1% for 2022. The stock has rallied 11.8% in the past three months.