Power generation company TGK-9 has chosen the advanced gas turbine technology from General Electric Company (GE) for a combined-cycle plant meant for supplying heat and electricity to the residents of Berezniki in Russia.
GE will supply two-frame 6FA gas turbines and associated generators plus provide technical assistance, on-site training and performance testing for the combined-cycle project. It is expected that there will be an addition of 220 megawatts of new power for the region.
GE has been present in Russia since the early twentieth century and has approximately 2,500 employees in the country.
GE has one of the best infrastructure franchises worldwide with solid organic growth rates, exposure to favorable secular trends and a large installed base supporting a growing annuity-like services business.
Infrastructure businesses from GE are helping build the energy, health, transportation and technology infrastructure of the new century. These businesses provide the products and services that help developing regions participate in the global economy, while also helping developed regions upgrade with cleaner, more efficient and better infrastructure technologies.
The financial business of GE offers an array of products and services aimed at enabling commercial businesses, consumers and markets worldwide to build a stronger, financially secure future.
The company has adopted strategic imperatives to strengthen its portfolio by building strong growth platforms and generating cash from low-return businesses. Its focus remains on accelerating organic growth and achieving technical and service excellence, while building enduring customer relationships around the world.
GE has products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and industrial products.
Since its incorporation in 1892, the company has developed or acquired new technologies and services that have broadened considerably the scope of its activities. United Technologies Corporation (UTX) is a major competitor.
We currently have an Outperform recommendation on General Electric.
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