General Electric Company’s (GE - Free Report) unit GE Vernova’s Hydro Power business secured a deal from Manitoba Hydro to upgrade the Unit-4 Kaplan runner of Grand Rapids Generating Station.
GE Vernova is the combined operations of GE Digital, Renewable Energy and GE Power. Its Hydro Power business delivers hydropower solutions to provide more renewable energy to the world.
Manitoba, Canada based Grand Rapids is a reservoir-based hydropower plant. The power plant has four Kaplan runner units and is capable of delivering 479 megawatts of power. Twenty years back, General Electric replaced the runners for Units 1, 2 and 3.
Per the latest deal, GE will design, fabricate and supply the Kaplan runner, which has a diameter of more than six meters. The runner will be assembled and trialed at GE’s North America center.
This project will boost the performance and efficiency of the hydro power plant, which has been in operation for almost 60 years. It will also extend the plant’s lifetime and will allow the facility to deliver clean energy to the grid.
General Electric is building a powerful ecosystem to advance digital transformation, expand into new markets, improve its product line and develop an edge over its competitors through strategic partnerships. These collaborations strengthen GE’s industry position and help it to drive revenues.
Zacks Rank & Other Stocks to Consider
General Electric currently sports a Zacks Rank #1 (Strong Buy). Some other top-ranked companies are discussed below:
Caterpillar Inc. (CAT - Free Report) presently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks.
CAT’s earnings surprise in the last four quarters was 18.5%, on average. In the past 60 days, estimates for Caterpillar’s earnings have increased 11.1% for 2023. The stock has gained 55.5% in the past year.
A. O. Smith Corp. (AOS - Free Report) currently carries a Zacks Rank #2 (Buy). AOS’ earnings surprise in the last four quarters was 10.5%, on average.
In the past 60 days, estimates for A. O. Smith’s earnings have increased 2.9% for 2023. The stock has gained 28.8% in the past year.
Alamo Group Inc. (ALG - Free Report) presently carries a Zacks Rank of 2. ALG’s earnings surprise in the last four quarters was 13%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 1.1%. The stock has gained 33.7% in the past year.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
General Electric Company’s (GE - Free Report) unit GE Vernova’s Hydro Power business secured a deal from Manitoba Hydro to upgrade the Unit-4 Kaplan runner of Grand Rapids Generating Station.
GE Vernova is the combined operations of GE Digital, Renewable Energy and GE Power. Its Hydro Power business delivers hydropower solutions to provide more renewable energy to the world.
Manitoba, Canada based Grand Rapids is a reservoir-based hydropower plant. The power plant has four Kaplan runner units and is capable of delivering 479 megawatts of power. Twenty years back, General Electric replaced the runners for Units 1, 2 and 3.
Per the latest deal, GE will design, fabricate and supply the Kaplan runner, which has a diameter of more than six meters. The runner will be assembled and trialed at GE’s North America center.
This project will boost the performance and efficiency of the hydro power plant, which has been in operation for almost 60 years. It will also extend the plant’s lifetime and will allow the facility to deliver clean energy to the grid.
General Electric is building a powerful ecosystem to advance digital transformation, expand into new markets, improve its product line and develop an edge over its competitors through strategic partnerships. These collaborations strengthen GE’s industry position and help it to drive revenues.
Zacks Rank & Other Stocks to Consider
General Electric currently sports a Zacks Rank #1 (Strong Buy). Some other top-ranked companies are discussed below:
Caterpillar Inc. (CAT - Free Report) presently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks.
CAT’s earnings surprise in the last four quarters was 18.5%, on average. In the past 60 days, estimates for Caterpillar’s earnings have increased 11.1% for 2023. The stock has gained 55.5% in the past year.
A. O. Smith Corp. (AOS - Free Report) currently carries a Zacks Rank #2 (Buy). AOS’ earnings surprise in the last four quarters was 10.5%, on average.
In the past 60 days, estimates for A. O. Smith’s earnings have increased 2.9% for 2023. The stock has gained 28.8% in the past year.
Alamo Group Inc. (ALG - Free Report) presently carries a Zacks Rank of 2. ALG’s earnings surprise in the last four quarters was 13%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 1.1%. The stock has gained 33.7% in the past year.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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