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GE's Affiliate Expands Foothold with Multiple Contract Wins
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Current,a start-up unit of General Electric Company (GE - Free Report) , recently announced the undertaking of 13 New Solar Projects.
The company is providing its solar solutions to Northeastern businesses which include Partners Healthcare, Seabury and Smith & Wesson. The use of solar energy enables the company to generate clean energy to fuel diverse industries like healthcare, manufacturing and municipalities.
Based in Boston, the company is currently focused on building 17 MW in solar carport and ground-mount projects across six Northeastern states. This not only enables the company to improve its revenues but also shows its initiatives toward the wellbeing of society.
The company will be providing a 1.1 MW carport and ground-mount installation that will produce 70% of the hospital's electricity for Partners Healthcare's Spaulding Rehabilitation Hospital. In addition, the hospital will also be installing two of General Electric’s carports at its Newton-Wellesley Hospital facility, to save over $4.4 million in energy costs.
Life care provider, Seabury’s Life Plan community in Bloomfield, CT, had installed General Electric’s solar ground-mount solutions to save over $600,000.The Town of Wallkill, NY, installed a 2.4 MW solar plant on a capped landfill, to help save over $2 million.
Smith & Wesson's new 2.6 MW solar carport project at its industrial facility in Springfield, MA, offers a lifetime estimated savings of $2.8 million. In addition, Current has also provided the site with its LED lighting facility to further reduce energy consumption and energy costs.
The company had also installed its solar solutions across a number of its facilities which tallied to more than 9.4 MW in solar carport and ground-mount power, to save over $13.8 million across sites.
Despite its string of contract wins, General Electric underperformed the Zacks categorized Diversified Operations industry over the last 30 days, with an average loss of 2.1% compared with 0.6% decline of the latter.
Current is a first-of-its-kind start-up which combines advanced energy technologies like LED and solar with networked sensors and software to enhance energy efficiency & productivity. Supported by General Electric's Industrial Internet platform, the power of Predix and a broad ecosystem of technology partners, Current is aiding businesses and cities realize the potential of their environments.
Hitachi has a long-term earnings growth expectation of 13% and is currently trading at a forward P/E of 13.4x.
LSB Industries has a long-term earnings growth expectation of 12%.
Bunzl has a long-term earnings growth expectation of 7.5% and is currently trading at a forward P/E of 20.6x.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
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GE's Affiliate Expands Foothold with Multiple Contract Wins
Current,a start-up unit of General Electric Company (GE - Free Report) , recently announced the undertaking of 13 New Solar Projects.
The company is providing its solar solutions to Northeastern businesses which include Partners Healthcare, Seabury and Smith & Wesson. The use of solar energy enables the company to generate clean energy to fuel diverse industries like healthcare, manufacturing and municipalities.
Based in Boston, the company is currently focused on building 17 MW in solar carport and ground-mount projects across six Northeastern states. This not only enables the company to improve its revenues but also shows its initiatives toward the wellbeing of society.
The company will be providing a 1.1 MW carport and ground-mount installation that will produce 70% of the hospital's electricity for Partners Healthcare's Spaulding Rehabilitation Hospital. In addition, the hospital will also be installing two of General Electric’s carports at its Newton-Wellesley Hospital facility, to save over $4.4 million in energy costs.
Life care provider, Seabury’s Life Plan community in Bloomfield, CT, had installed General Electric’s solar ground-mount solutions to save over $600,000.The Town of Wallkill, NY, installed a 2.4 MW solar plant on a capped landfill, to help save over $2 million.
Smith & Wesson's new 2.6 MW solar carport project at its industrial facility in Springfield, MA, offers a lifetime estimated savings of $2.8 million. In addition, Current has also provided the site with its LED lighting facility to further reduce energy consumption and energy costs.
The company had also installed its solar solutions across a number of its facilities which tallied to more than 9.4 MW in solar carport and ground-mount power, to save over $13.8 million across sites.
Despite its string of contract wins, General Electric underperformed the Zacks categorized Diversified Operations industry over the last 30 days, with an average loss of 2.1% compared with 0.6% decline of the latter.
Current is a first-of-its-kind start-up which combines advanced energy technologies like LED and solar with networked sensors and software to enhance energy efficiency & productivity. Supported by General Electric's Industrial Internet platform, the power of Predix and a broad ecosystem of technology partners, Current is aiding businesses and cities realize the potential of their environments.
General Electric currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry include Hitachi, Ltd. (HTHIY - Free Report) , LSB Industries, Inc. (LXU - Free Report) and Bunzl plc (BZLFY - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hitachi has a long-term earnings growth expectation of 13% and is currently trading at a forward P/E of 13.4x.
LSB Industries has a long-term earnings growth expectation of 12%.
Bunzl has a long-term earnings growth expectation of 7.5% and is currently trading at a forward P/E of 20.6x.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere
1 billion iPhones in 10 years but a new breakthrough is expected to generate more
than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging
phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may
kick yourself in 2020. Click here for the 6 trades >>