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MarketScreener Homepage  >  Equities  >  Nyse  >  General Electric Company    GE

GENERAL ELECTRIC COMPANY

(GE)
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General Electric : GE Renewable Energy Announces 576 MW Order with Invenergy

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09/23/2020 | 09:05am EDT
  • Agreement includes GE's 2.X-127 and 2.X-116 turbines
  • 187-turbine order will power the equivalent of more than 160,000 average American homes

Schenectady, NY, September 21, 2020-GE Renewable Energy today announced a trio of orders for its 2.X onshore wind turbines with Invenergy. The 576 MW, 187-turbine order will power the equivalent of 160,000 American homes across three U.S. states.

The agreement includes:

  • 54 2.X-127 turbines for the 110 MW Crescent Wind Energy Center in Michigan
  • 30 2.X-127 and 6 2.X-116 turbines for the 166 MW Contrail Wind Energy Center in Iowa
  • 97 2.X-127 for the 300 MW Deuel Harvest Wind Energy Center in South Dakota

GE's best-selling 2 MW product platform has a total installed capacity of more than 15 GW and operates at an industry-leading average of 98+ percent availability.

Vikas Anand, GE Renewable Energy CEO for Onshore Wind Americas, said: 'GE Renewable Energy is proud to continue our longstanding relationship with Invenergy with these three wind farms. Our 2.X platform leverages proven, reliable technology and is ideally suited for this part of the country at a time when the world needs access to clean, affordable energy.'

All three projects are scheduled to be operational by the first quarter of 2021 or earlier.

GE Renewable Energy was recognized by AWEA as the top manufacturer of wind turbines in the U.S. in 2019, supplying 45% of the total onshore wind installed nationwide. With one of the most diverse renewable energy portfolios in the industry, GE Renewable Energy offers customers a wide range of products and services - from onshore and offshore wind equipment to grid solutions and digital services offerings - to help them drive down the cost of electricity and bring green electrons to the grid.

###

About GE Renewable Energy
GE Renewable Energy is a $15 billion business which combines one of the broadest portfolios in the renewable energy industry to provide end-to-end solutions for our customers demanding reliable and affordable green power. Combining onshore and offshore wind, blades, hydro, storage, utility-scale solar, and grid solutions as well as hybrid renewables and digital services offerings, GE Renewable Energy has installed more than 400+ gigawatts of clean renewable energy and equipped more than 90 percent of utilities worldwide with its grid solutions. With more than 40,000 employees present in more than 80 countries, GE Renewable Energy creates value for customers seeking to power the world with affordable, reliable and sustainable green electrons.
Follow us at www.ge.com/renewableenergy, on www.linkedin.com/company/gerenewableenergy, or on www.twitter.com/GErenewables.

About Invenergy
We are innovators building a sustainable world. Invenergy and its affiliated companies develop, own, and operate large-scale sustainable energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Colombia, Japan, Poland and Scotland. Invenergy has successfully developed more than 25,000 megawatts of projects that are in operation, construction or contracted, including wind, solar, and natural gas power generation facilities as well as advanced energy storage projects. For more information, please visit www.invenergy.com.

For media inquiries, please contact:

Becky Norton
Communications, Onshore Wind Americas & Digital Services
GE Renewable Energy
+1 518 522 8832
[email protected] business unit

Disclaimer

GE - General Electric Company published this content on 23 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2020 12:04:02 UTC


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Financials (USD)
Sales 2020 79 090 M - -
Net income 2020 4 249 M - -
Net Debt 2020 19 481 M - -
P/E ratio 2020 18,1x
Yield 2020 0,52%
Capitalization 66 788 M 66 788 M -
EV / Sales 2020 1,09x
EV / Sales 2021 1,06x
Nbr of Employees 205 000
Free-Float 74,3%
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Number of Analysts 22
Average target price 8,97 $
Last Close Price 7,63 $
Spread / Highest target 70,4%
Spread / Average Target 17,5%
Spread / Lowest Target -34,5%
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H. Lawrence Culp Chairman & Chief Executive Officer
Carolina Dybeck-Happe Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
James S. Tisch Independent Director
Francisco D'Souza Independent Director
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