Jiangsu Yonggang Group (YG Group) will be installing four of General Electric Company’s (GE) Jenbacher cogeneration systems to provide cleaner energy to its steel mill facilities. The cogeneration systems will be fueled with blast furnace gas (:BFG).
The Yonggang power plant in China is expected to be the first commercial gas engine cogeneration plant in the world to use BFG. The YG group produces 5 million of steel per year and by installing GE’s Jenbacher gas engines, it is expected to reduce 63,000 tons of carbon dioxide emissions annually at the mills.. Banking on the improved flexibility, reliability and efficiency of GE’s gas engines, the combined heat and power (:CHP) plant at the YG Group steel mill is expected to offer a total efficiency of up to 83.5% at reduced energy costs.
GE’s Jenbacher gas engines are an advanced and reliable addition to its product line and aims to achieve maximum efficiency with low emissions. This innovative technology addresses the increasing demand for high-efficiency gas engine solutions and aims to meet the development needs of the YG Group.
General Electric is one of the most diversified technologies and financial service corporations in the world. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions, and GE Capital. GE Power & Water produces gas, steam and aero derivative turbines; generators; combined cycle systems; and renewable energy solutions, as well as provides water treatment services and equipment.
General Electric currently has a Zacks Rank #2 (Buy). Other stocks that look promising and are worth a look now are Honeywell International Inc (HON), Macquarie Infrastructure Company LLC (MIC) and Tyco International Ltd. (TYC), each carrying a Zacks Rank #2 (Buy).
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