General Electric Company (GE - Free Report) recently announced its decision to offer 9EMax gas turbine upgrade solution to power producer Stadtwerke München (“SWM”). Notably, SWM will leverage General Electric’s gas turbine upgrade solution to enhance gas turbines and generators at its district heating plant based in Munich, Germany.
General Electric’s 9EMax gas turbine upgrade solution will make operations of SWM’s cogeneration plant Heizkraftwerk-Süd more efficient in the production of thermal energy by upgrading two GE 9E.03 gas turbines and two A39 generators.
Notably, the modernization will help the plant to boost the efficiency of each gas turbine, apart from enhancing the power output by roughly 15 megawatts per unit. Also, this will enable SWM to reduce carbon dioxide and nitrous oxide emissions considerably. As a matter of fact, the solution will help in meeting the requirements of energy supply for citizens and industrial customers across the city.
The 9EMax gas turbine solution is part of General Electric’s Fleet360 platform of plant solutions that represents the company’s enhanced capabilities as a total solutions provider for all power generation equipment. Notably, the solution is part of the company’s Power segment, which accounted for 17.3% of Industrial revenues in the second quarter of 2019.
General Electric intends to become more competent by focusing on core businesses. In June 2018, it announced its plan to become a high-tech industrial company focused on Aviation, Power and Renewable Energy. Although, the company is working toward improving operations and lowering costs in the Power segment, persistent challenges in the segment remain a concern.
Year to date, the Zacks Rank #3 (Hold) company’s share price has increased 25.4% compared with 16.8% growth recorded by the industry.
Some better-ranked stocks in the same space are Federal Signal Corporation (FSS - Free Report) , Carlisle Companies Incorporated (CSL - Free Report) and United Technologies Corporation (UTX - Free Report) . While Federal Signal sports a Zacks Rank #1 (Strong Buy), Carlisle and United Technologies carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Federal Signal surpassed estimates in each of the trailing four quarters, the average being 16.48%.
Carlisle surpassed estimates thrice in the trailing four quarters, the average being 17.16%.
United Technologies exceeded estimates in each of the trailing four quarters, the average being 13.19%.
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