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General Electric (GE) Pumped Storage to be Used for China Plant
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General Electric Company (GE - Free Report) has been selected by Anhui Jinzhai Pumped Storage Power Co., LTD, to deliver four 300 MW pumped storage turbines, generator motors and the balance of plant for the latter’s Anhui Jinzhai pumped storage power plant, situated in Jinzhai County, Anhui Province, China. It is worth noting that the first two out of the four units have been delivered and have passed the trial period. Those two units are now connected to the grid.
The pumped storage units will act as big batteries for the power plant. When there is excess energy, water will be pumped from the lower to the upper reservoir. On the other hand, when there is demand, water will be released from the upper chambers thus producing electricity as the water passes through the turbines. This process will help the Anhui province to minimize its grid stability problems.
The 1.2 GW project will help China to meet its goal of developing more than 200 pumped storage stations with a capacity of 270 gigawatts by 2025. Annually the project is capable of generating a capacity of about 1.4 times the household electricity consumption in Jinzhai. This pumped storage station will save about 89,500 tons of coal and will slash carbon dioxide emissions by 179,000 tons a year.
Pascal Radue, President & CEO, GE Hydro Solutions, said, “Once the project is fully commissioned, the giant 1.2 GW hydro battery will offer a high level of flexibility and reliability to the local power grid. This demonstrates pumped storage Solutions’ ability to solve some of the biggest challenges linked to the energy transition, in China and beyond.”
Image: Bigstock
General Electric (GE) Pumped Storage to be Used for China Plant
General Electric Company (GE - Free Report) has been selected by Anhui Jinzhai Pumped Storage Power Co., LTD, to deliver four 300 MW pumped storage turbines, generator motors and the balance of plant for the latter’s Anhui Jinzhai pumped storage power plant, situated in Jinzhai County, Anhui Province, China. It is worth noting that the first two out of the four units have been delivered and have passed the trial period. Those two units are now connected to the grid.
The pumped storage units will act as big batteries for the power plant. When there is excess energy, water will be pumped from the lower to the upper reservoir. On the other hand, when there is demand, water will be released from the upper chambers thus producing electricity as the water passes through the turbines. This process will help the Anhui province to minimize its grid stability problems.
The 1.2 GW project will help China to meet its goal of developing more than 200 pumped storage stations with a capacity of 270 gigawatts by 2025. Annually the project is capable of generating a capacity of about 1.4 times the household electricity consumption in Jinzhai. This pumped storage station will save about 89,500 tons of coal and will slash carbon dioxide emissions by 179,000 tons a year.
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Pascal Radue, President & CEO, GE Hydro Solutions, said, “Once the project is fully commissioned, the giant 1.2 GW hydro battery will offer a high level of flexibility and reliability to the local power grid. This demonstrates pumped storage Solutions’ ability to solve some of the biggest challenges linked to the energy transition, in China and beyond.”
Zacks Rank and Stocks to Consider
GE currently carries a Zacks Rank #3 (Hold).
Some better-ranked companies are discussed below:
Applied Industrial Technologies, Inc. (AIT - Free Report) presently sports a Zacks Rank #1 (Strong Buy) and has a trailing four-quarter earnings surprise of 24.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
AIT’s earnings estimates have increased 4.6% for fiscal 2023 in the past 60 days. Shares of Applied Industrial have risen 28.2% in the past year.
MRC Global Inc. (MRC - Free Report) presently has a Zacks Rank of 1. MRC’s earnings surprise in the last four quarters was 103%, on average.
In the past 60 days, MRC Global’s earnings estimates have increased 42% for 2022. The stock has rallied 67.2% in the past year.
Titan International, Inc. presently carries a Zacks Rank #2 (Buy). Its earnings surprise in the last four quarters was 49.6%, on average.
In the past 60 days, TWI’s earnings estimates have increased 1.4% for 2022. The stock has surged 70.7% in the past year.