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General Electric (GE) Arm Wins GIS Order From Larsen & Toubro
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General Electric Company’s (GE - Free Report) unit, Grid Solutions, recently secured an order from Larsen & Toubro to deliver 380 kV T155 gas-insulated substations (GIS). The GIS unit will be supplied to the world’s largest utility-scale hydrogen plant, which is to be constructed in the Oxagon (northwestern Saudi Arabia)-based planned smart city of Neom.
General Electric’s state-of-the-art GIS design and the 1.5 breaker configuration will ensure continuous power supply at the hydrogen plant and the wind and photovoltaic plants. It will further generate captive energy for the facility. GE-supplied switchgear will aid the primary grid by boosting power supply reliability. GE’s innovative solutions will ensure the seamless distribution of green hydrogen to power homes, businesses and industries in Saudi Arabia.
The 92 bays of GIS for the facility will be designed, manufactured, delivered, installed, supervised and commissioned by General Electric. The company is currently constructing the machinery at its Aix-Les-Bains, France-located Grid Solutions' site.
Neom’s mega plant will be fully powered by renewable sources of energy. The NEOM Green Hydrogen Company will likely generate carbon-free hydrogen at the facility by using wind and solar power only. It aims to produce about 600 tonnes of carbon-free hydrogen per day by the end of 2026. This deal is in sync with Saudi Arabia’s goal to transition toward a more sustainable and decarbonized future.
Zacks Rank & Stocks to Consider
GE currently carries a Zacks Rank #3 (Hold). Some better-ranked companies are discussed below:
IR delivered a trailing four-quarter earnings surprise of 12.6%, on average. In the past 60 days, estimates for Ingersoll Rand’s 2023 earnings have increased 7.5%. The stock has improved 20.1% in the year-to-date period.
Alamo Group Inc. (ALG - Free Report) currently sports a Zacks Rank of 1. ALG delivered a trailing four-quarter earnings surprise of 17.7%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 12.7%. The stock has gained 29.6% in the year-to-date period.
Axon Enterprise (AXON - Free Report) sports a Zacks Rank of 1, at present. The company has a trailing four-quarter earnings surprise of 44.4%, on average.
In the past 60 days, estimates for Axon’s 2023 earnings have increased 13%. The stock has rallied 17.4% in the year-to-date period.
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General Electric (GE) Arm Wins GIS Order From Larsen & Toubro
General Electric Company’s (GE - Free Report) unit, Grid Solutions, recently secured an order from Larsen & Toubro to deliver 380 kV T155 gas-insulated substations (GIS). The GIS unit will be supplied to the world’s largest utility-scale hydrogen plant, which is to be constructed in the Oxagon (northwestern Saudi Arabia)-based planned smart city of Neom.
General Electric’s state-of-the-art GIS design and the 1.5 breaker configuration will ensure continuous power supply at the hydrogen plant and the wind and photovoltaic plants. It will further generate captive energy for the facility. GE-supplied switchgear will aid the primary grid by boosting power supply reliability. GE’s innovative solutions will ensure the seamless distribution of green hydrogen to power homes, businesses and industries in Saudi Arabia.
The 92 bays of GIS for the facility will be designed, manufactured, delivered, installed, supervised and commissioned by General Electric. The company is currently constructing the machinery at its Aix-Les-Bains, France-located Grid Solutions' site.
General Electric Company Price
General Electric Company price | General Electric Company Quote
Neom’s mega plant will be fully powered by renewable sources of energy. The NEOM Green Hydrogen Company will likely generate carbon-free hydrogen at the facility by using wind and solar power only. It aims to produce about 600 tonnes of carbon-free hydrogen per day by the end of 2026. This deal is in sync with Saudi Arabia’s goal to transition toward a more sustainable and decarbonized future.
Zacks Rank & Stocks to Consider
GE currently carries a Zacks Rank #3 (Hold). Some better-ranked companies are discussed below:
Ingersoll Rand Inc. (IR - Free Report) presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks.
IR delivered a trailing four-quarter earnings surprise of 12.6%, on average. In the past 60 days, estimates for Ingersoll Rand’s 2023 earnings have increased 7.5%. The stock has improved 20.1% in the year-to-date period.
Alamo Group Inc. (ALG - Free Report) currently sports a Zacks Rank of 1. ALG delivered a trailing four-quarter earnings surprise of 17.7%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 12.7%. The stock has gained 29.6% in the year-to-date period.
Axon Enterprise (AXON - Free Report) sports a Zacks Rank of 1, at present. The company has a trailing four-quarter earnings surprise of 44.4%, on average.
In the past 60 days, estimates for Axon’s 2023 earnings have increased 13%. The stock has rallied 17.4% in the year-to-date period.