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General Electric (GE)-Fueled 1,875 MW Power Plant Comes Online

General Electric Company GE unit, GE Vernova’s Gas Power business, announced that Caithness Energy’s Guernsey Power Station, which is fueled by GE’s HA combined cycle equipment, has begun commercial operations. The power plant is based in Guernsey County, Southeastern Ohio, in the heart of the state’s Utica and Marcellus shale gas development area.

The 1,875-megawatt (MW) Guernsey Power Station is equipped with three 7HA.02 gas turbines which power three W84 generators, three STF-A650 steam turbines and three GE triple pressure with reheat Heat Recovery Steam Generators. The plant uses combined-cycle technology which contains both natural gas-powered turbines and steam-powered turbines. This allows the power station to use the surplus heat produced by the gas turbines to make steam in order to fuel the steam turbines, generating a maximum of 50% more electricity from the same amount of fuel used in a simple cycle plant.

Per the deal, General Electric will provide cloud-based predictive analytics through GE Digital’s Asset Performance Management Software Reliability software. Under a multi-year services agreement, the company will also service the power plant for 20 years. GE’s APM Reliability will enhance the power plant’s productivity and reliability by forecasting possible asset failures and lowering the unplanned downtime. GE’s equipment will help Caithness Energy to achieve its goal to lower carbon emissions.

General Electric Company Price


General Electric Company Price
General Electric Company Price

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The Guernsey Power Station contributes more than 1,800 MW of electricity to the grid in PJM Energy Market. This is the amount of electricity required to power about 1.4 million homes in the U.S.

Zacks Rank & Stocks to Consider

GE currently carries a Zacks Rank #3 (Hold). Some better-ranked companies are discussed below:

Ingersoll Rand Inc. IR 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% in the year-to-date period.

Alamo Group Inc. ALG 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 29.7% in the year-to-date period.

Axon Enterprise AXON 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 19.3% in the year-to-date period.

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General Electric Company (GE) : Free Stock Analysis Report

Ingersoll Rand Inc. (IR) : Free Stock Analysis Report

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