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GE Aerospace (GE) - $25 value - yours FREE >>
Honeywell International Inc. (HON) - $25 value - yours FREE >>
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General Electric (GE) Arm Wins Grid Infrastructure Deal in Nepal
General Electric Company’s (GE - Free Report) Grid Solutions business recently secured a deal from Nepal Electricity Authority for upgrading three Gas-Insulated Substations (GIS) based in Khimti, Lapsiphedi and Barhabise in Nepal.
Grid Solutions is a division of General Electric's GE Renewable Energy business segment.
Inside the Headlines
Per the multi-million-dollar deal, General Electric will be responsible for upgrading the three GIS substations from 220 kiloVolt to 400 kiloVolt. The upgrade will involve full substation automation in addition to relay panels as well as high-quality substation equipment.
Notably, the company’s cutting-edge grid technology will facilitate in smoother transmission of power, apart from enabling these substations to operate with greater control of load and under efficient monitoring. As a matter of fact, this will allow the substations to provide reliable and incessant hydro energy to numerous households, particularly outside Kathmandu area.
It’s worth mentioning here that substation equipment will be produced at the company’s factories in Hosur, Padappai, Pallavaram and Noida in India.
Existing Business Scenario
General Electric has been experiencing weakness in the Aviation and Power businesses amid the coronavirus pandemic. Although the company is working on several counter measures, lower installation of commercial engines and a weak commercial aftermarket business might hurt performance of the Aviation segment in the initial quarter of 2021. For the Power segment, weakness in equipment revenues might affect its performance.
Also, it faces stiff competition from several of its peers in the industry like Honeywell International Inc. (HON - Free Report) , 3M Company (MMM - Free Report) and Raytheon Technologies Corporation (RTX - Free Report) .
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