General Electric (GE) Upgrades Futtsu Power Plant in Japan
General Electric Company’s GE unit GE Vernova’s Gas Power business recently announced that JERA’s 1.5 Gigawatt (GW) Futtsu Power Plant–Group 4, situated in Chiba, Japan, has successfully begun commercial operations. The power plant uses three GE 9HA.01 gas turbines.
The Futtsu power plant consists of four groups and has a collective capacity of delivering 5.6GW of power. It is the one of the biggest power-generating facilities in Japan, which powers the Tokyo Metropolitan area. The facility is also the largest LNG terminal of the country which receives over 11 million tons of LNG annually.
General Electric, JERA and the EPC partner, Toshiba Energy Systems & Solutions Corporation (Toshiba) executed the flange-to-flange replacement (a full replacement of an existing gas turbine core engine with a new production engine) to upgrade the original gas turbine units to the advanced turbine technology. This upgrade allows the power plant to offer enhanced performance, efficiency, and reduce CO2 emissions by burning fuel efficiently.
GE has upgraded the auxiliary system and enhanced the Mark Vle control system for the gas turbine, steam turbine, and heat recovery steam generator. Additionally, the company will also offer equipment maintenance services for 12 years.
General Electric Company Price
General Electric Company price | General Electric Company Quote
Successful project completions position General Electric to gain an edge over the competition. It also allows the company to increase the customer satisfaction level which ensures higher customer retention rate, thus building referrals and loyalty. For instance, General Electric has supported power generation in Japan for the last 130 years by providing power generation tools including gas turbines, steam turbines, nuclear reactors, hydro and wind turbines. The company presently supports 50% of the country’s gas-fired power generation capacity with 130 gas turbine units. GE also accounts for about 25% of Japan’s current installed capacity of onshore wind.
Zacks Rank & Other Stocks to Consider
GE currently sports a Zacks Rank #1 (Strong Buy). Some other top-ranked companies are discussed below:
Caterpillar Inc. CAT presently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks.
CAT’s earnings surprise in the last four quarters was 18.5%, on average. In the past 60 days, estimates for Caterpillar’s earnings have increased 11.2% for 2023. The stock has gained 47% in the past year.
A. O. Smith Corp. AOS presently carries a Zacks Rank #2 (Buy). AOS’ earnings surprise in the last four quarters was 10.5%, on average.
In the past 60 days, estimates for A. O. Smith’s earnings have increased 2.9% for 2023. The stock has gained 23.1% in the past year.
Alamo Group Inc. ALG presently carries a Zacks Rank of 2. ALG’s earnings surprise in the last four quarters was 13%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 1.1%. The stock has gained 29.5% in the past year.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
General Electric Company (GE) : Free Stock Analysis Report
Caterpillar Inc. (CAT) : Free Stock Analysis Report
A. O. Smith Corporation (AOS) : Free Stock Analysis Report
Alamo Group, Inc. (ALG) : Free Stock Analysis Report
