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Emerson (EMR) Selected as Automation Partner by Lodestone
Emerson Electric Co. (EMR - Free Report) has been selected by solar energy company Lodestone Energy to provide advanced automation solutions to New Zealand's first large-scale solar photovoltaic power project.
Solar PV transforms sunlight directly into electricity and is one of the fastest-growing renewable energy sources. It needs accurate orchestration and multiple interfaces to third-party systems, which include high-voltage switchboards, inverters, site security systems, weather stations and grid authority remote terminal units to produce and supply solar PV power. EMR’s leading automation architecture data will merge its control software and technologies with enterprise data solutions to build a control solution to boost output and profitability as well as to manage grid stability.
Per the deal, Lodestone will leverage EMR’s Ovation distributed control system and OCR3000 controller to provide comprehensive control to curtail variability and intermittency impact in solar PV power generation. Using this technology, operators will be able to quickly respond to grid frequency events. It will also help them in monitoring solar PV operations from the control room or mobile devices, measuring, monitoring and reporting key performance indicators to maximize the visibility of plant operations.
Emerson Electric Co. Price
Emerson Electric Co. price | Emerson Electric Co. Quote
Emerson will assist Lodestone in completing its two 23-megawatt sites at Kaitaia and Edgecumbe. This project is a vital step toward supporting New Zealand's goal of achieving carbon neutrality by 2050.
Zacks Rank and Stocks to Consider
EMR currently carries a Zacks Rank #3 (Hold). Some better-ranked companies from the Industrial Products sector are discussed below:
Deere & Company (DE - Free Report) presently sports a Zacks Rank #1 (Strong Buy). DE’s earnings surprise in the last four quarters was 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
In the past 60 days, estimates for Deere & Company’s fiscal 2023 earnings have increased 8.7%. The stock has rallied 12.1% in the past six months.
Ingersoll Rand Inc. (IR - Free Report) presently carries a Zacks Rank #2 (Buy). IR’s earnings surprise in the last four quarters was 8.5%, on average.
In the past 60 days, estimates for Ingersoll Rand’s fiscal 2023 earnings have increased 1.7%. The stock has gained 13% in the past six months.
AGCO Corporation (AGCO - Free Report) presently has a Zacks Rank of 2. AGCO’s earnings surprise in the last four quarters was 13.4%, on average.
In the past 60 days, estimates for AGCO’s fiscal 2023 earnings have increased 2.1%. The stock has rallied 19.7% in the past six months.