General Electric (GE) has already established a presence in the China wind energy market, supplying them with nearly 1000 wind turbines and today the company is announcing it will be a bigger player after securing a joint venture deal with a subsidiary of Harbin Power Equipment. The venture between the two companies will manufacture GE designed turbines for onshore and offshore wind farms. Harbin will be the majority owner with a 51% stake.
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General Electric announced this morning that it has acquired SNC-Lavalin’s Energy Control Systems business as well as its network management and control software. Energy Control Systems’ software is used to improve the efficiency and reliability of the electric power grid, so this acquisition will enhance GE’s smart grid-related offerings.
In a Bob Gilligan, vice president–digital energy for GE Energy Services, commented on the acquisition:
“ECS software empowers everyone along the energy value chain to do … Read the rest
It’s a busy day on the green energy front for General Electric (GE). Earlier, they announced their $200 million Ecomagination Challenge and have also introduced their WattStation electric car charging system which decreases charging times and allows utilities to manage the impact on the local grid.
The charger decreases average full charge times of 12 – 18hrs for a standard level 1 charger to 4 – 8hrs. It will be available commercially on a … Read the rest
General Electric (GE) along with some leading venture capital partners such as Kleiner Perkins, announced today a $200 million contest which seeks to accelerate the advancement of the smart grid and other green energy solutions. The “GE Ecomagination Challenge: Powering the Grid”, invites technologists, entrepreneurs and start ups to share their best ideas.
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Said GE CEO Jeff Immelt, "At GE we have invested broadly … Read the rest
CBS News did a story tonight on the led lighting revolution as the incandescent bulb nears extinction. Here are some facts presented in the story..
– Americans consume double the amount of electricity than someone in Great Britain and nearly 6x than someone in China
– We’re increasing our energy use by 30% per year (this number seems hard to believe!)
– 22% of our electricity use comes from lighting
– 95% of the … Read the rest
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General Electric (GE) made its first move into the thin film solar market in 2007 when it acquired a stake in PrimeStar Solar (of which it now has a majority stake). It appears the company is sold on PrimeStar’s cadmium telluride thin film technology which happens to compete directly with industry leader First Solar (FSLR) and continues to … Read the rest
By Sam Hopkins of GreenChipStocks.com
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I’m in Washington, D.C. today for the American Council on Renewable Energy’s RETECH Expo, where I’m mining the showcases and speakers for new stock picks. Not every technology or company here will be a home-run investment. To tell the truth, many of them won’t even make it ten years without being bought out or folding…
Others will make headlines and drive market returns, … Read the rest
China’s HECIC New Energy Co., Ltd has selected GE Energy to supply wind turbines for 3 wind projects three new projects in Hebei and Shanxi Provinces. Under the agreement, GE will supply 88 1.5-megawatt wind turbines to HECIC New Energy. To make the turbines easier to connect to the grid and to improve reliability and stability, they will include GE’s Low Voltage Ride-Through and Wind Farm Management Systems technology.
GE has already supplied 895 of … Read the rest
There’s a good piece from Eric Savitz over at Barron’s discussing the loss of business Broadwind Energy (BWEN) faces following the cancellation by Boone Pickens of half of that large, $2 billion wind turbine order from GE. Broadwind supplies parts to GE for these turbines and the stock is getting hit as a result. The selling picked up yesterday and continues today with record sell volume. A return to the November lows appears inevitable.
Savitz … Read the rest
Big news this morning out of General Electric (GE) and great news for the wind industry in general. The company is announcing it will supply what will be the world’s largest wind farm in Oregon called the Sheperds Flat project run by Caithness Energy. The deal calls for 338 wind turbines from GE between 2011 and 2012 with the project generating 845MW of energy at full capacity. The project is expected to inject $16 million … Read the rest