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General Electric (GE) Arm Wins Wind Turbine Deal in Germany
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General Electric Company (GE - Free Report) unit GE Renewable Energy recently announced that it secured an onshore wind turbine contract from Germany-based company wpd for the three wind farms to be built in Landkreis Uelzen, Niedersachsen.
Per the latest deal, GE Renewable Energy will be responsible for supplying 16 onshore wind turbines for the wind power facilities, with each turbine having 5.5MW of capacity. The wind turbines have a rotor diameter of 158m. These turbines at the three wind farms will have an instilled capacity of 88MW.
The Bankewitz, Müssingen and Flinten wind farms are situated within a radius of 20 km. Bankewitz and Müssingen are likely to be commissioned and operational by the end of this year, while Flinten is scheduled in the first quarter of 2024. Collectively, these three wind farms will generate enough power to supply electricity to approximately 90,000 households per year. The deal includes a 15-year full-service contract, which could be extended for another five years.
Gilan Sabatier, GE’s Chief Commercial Officer of Onshore Wind International, said, “wpd is a major investor in wind energy in Germany and around the world. We are thrilled to have been selected by wpd on these three projects which demonstrates our continuous commitment to the German onshore wind market, extends our presence in Europe and confirms the confidence of our customers in our technology."
Zacks Rank & Stocks to Consider
GE currently has a Zacks Rank #5 (Strong Sell). Some top-ranked companies are discussed below:
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General Electric (GE) Arm Wins Wind Turbine Deal in Germany
General Electric Company (GE - Free Report) unit GE Renewable Energy recently announced that it secured an onshore wind turbine contract from Germany-based company wpd for the three wind farms to be built in Landkreis Uelzen, Niedersachsen.
Per the latest deal, GE Renewable Energy will be responsible for supplying 16 onshore wind turbines for the wind power facilities, with each turbine having 5.5MW of capacity. The wind turbines have a rotor diameter of 158m. These turbines at the three wind farms will have an instilled capacity of 88MW.
The Bankewitz, Müssingen and Flinten wind farms are situated within a radius of 20 km. Bankewitz and Müssingen are likely to be commissioned and operational by the end of this year, while Flinten is scheduled in the first quarter of 2024. Collectively, these three wind farms will generate enough power to supply electricity to approximately 90,000 households per year. The deal includes a 15-year full-service contract, which could be extended for another five years.
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Gilan Sabatier, GE’s Chief Commercial Officer of Onshore Wind International, said, “wpd is a major investor in wind energy in Germany and around the world. We are thrilled to have been selected by wpd on these three projects which demonstrates our continuous commitment to the German onshore wind market, extends our presence in Europe and confirms the confidence of our customers in our technology."
Zacks Rank & Stocks to Consider
GE currently has a Zacks Rank #5 (Strong Sell). Some top-ranked companies are discussed below:
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