General Electric (GE) to Upgrade Cushman II Hydropower Plant
General Electric Company’s GE unit GE Vernova’s Hydro Power business has been selected by Tacoma Power to renovate the Cushman II hydropower plant’s two 27 MW/33 MVA turbine and generator units. The facility has three turbine and generator units in total.
GE Vernova is the combined operations of GE Digital, Renewable Energy and GE Power. Its Hydro Power business creates state-of-the-art technologies, which use the power of water to deliver reliable energy to some of the world's largest economies and remote communities.
Located in Washington, the Cushman II hydropower plant was commissioned in 1930. The power plant has the capacity to produce 81 megawatts of power and can supply renewable energy to approximately 40,500 houses in the north-west.
Per the deal, GE will design, manufacture, restore, install and commission new generator stators at the Cushman II facility. The company will also renovate the generator rotor poles, shaft thrust bearing, two new turbine distributors, turbine runner and draft tube.
The hydropower plant project is likely to finish in 2026. When upgraded, the units will boost the availability and reliability of the power plant and will supply green energy to the grid for another 100 years.
Price Performance
In the past year, the GE stock has surged 40.4% against the industry’s 8.1% decrease.
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General Electric currently carries a Zacks Rank #2 (Buy). Some other top-ranked companies have been discussed below.
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The consensus estimate for ITT’s 2023 earnings has increased 2% in the past 60 days. Shares of ITT have jumped 34.5% in the past year.
A. O. Smith Corporation AOS currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 14%.
In the past 60 days, the consensus estimate for A. O. Smith’s 2023 earnings has improved 5%. The stock has risen 27.2% in the past year.
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