Company’s GE business unit, GE Renewable Energy, yesterday announced that it has clinched a contract from Kalyon to deliver its FLEXINVERTER solar power station technology. The financial terms of the contract were not disclosed.The company also entered into a deal with ACTA MARINE for chartering a Service Operation Vessel (SOV).General Electric’s share price increased 1.8% yesterday, eventually closing the trading session at $98.54.Inside the HeadlinesThe company’s FLEXINVERTER solution integrates solar inverter, medium voltage power transformer, auxiliary transformer, and an optional MV Ring Main Unit in a single 20-feet ISO high cube container. The advanced solution serves as a factory-integrated power conversion system platform for solar and battery energy storage applications at utility scale.This energy storage solution will be used for the 270 MW Karapinar phase II-A and 810 MW Karapinar phase II-B solar plant, based in Turkey. This marks the company’s first implementation of FLEXINVERTER outside the United States.GE Renewable Energy will be responsible for designing, engineering, project & site management, and commissioning of the Karapinar solar power project. The company’s advanced solar power conversion solution and its expertise in the grid solution space will help Kalyon in supplying additional renewable energy to its customers while boosting the plant’s performance and lowering capital and operation expenses.The two solar plants are anticipated to begin commercial operations by December next year. This deal is based on GE Renewable Energy’s strong collaboration with Kalyon as the former has commissioned the same equipment for the 267 MW Karapinar phase I solar plant.As communicated, General
Electric will localize the manufacture of the DC-cables and mounting structures in Turkey. The transformers for the solar inverter system will be manufactured in the company’s Grid Solutions business manufacturing facility, based in Gebze.Separately, GE Renewable Energy entered into a deal with ACTA MARINE for chartering of ACTA AURIGA — a SOV. The SOV will facilitate the company in commissioning 80 units of its Haliade 150-6MW turbines at the Saint-Nazaire offshore wind farm.Zacks Rank, Price Performance and Estimate TrendGeneral Electric, with a $108.2-billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company is poised to benefit from solid contract wins, a strong liquidity position, and actions to restructure its portfolio. However, the market-related challenges in the Aviation segment are concerning.Image Source: Zacks Investment ResearchIn the past three months, its share price has decreased 6.3% against the industry’s growth of 4.9%.The Zacks Consensus Estimate for 2021 earnings has decreased 1% to $1.99 in the past 60 days. Earnings estimates for 2022 have declined 0.7% to $4.16 during the same period.Key PicksSome better-ranked stocks from the same space are Carlisle Companies Incorporated CSL, Raven Industries, Inc. RAVN, and Crane Co. CR. While Carlisle and Raven currently sport a Zacks Rank #1 (Strong Buy), Crane carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Carlisle pulled off an earnings surprise of 39.38%, on average, in the trailing four quarters.Raven pulled off an earnings surprise of 42.59%, on average, in the trailing four quarters.Crane pulled off an earnings surprise of 19.54%, on average, in the trailing four quarters.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>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 Raven Industries, Inc. (RAVN): Get Free Report Carlisle Companies Incorporated (CSL): Free Stock Analysis Report Crane Co. (CR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment ResearchWeiter zum vollständigen Artikel bei "Zacks"