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General Electric (GE) Unit Wins Transformer Deal in Germany

General Electric Company’s GE unit GE Vernova’s Grid Solutions business has secured a deal from Germany-based Amprion GmbH, one of four transmission system operators in the country, to deliver power transformers to upgrade Amprion’s grid to accommodate more energy generation.

GE Vernova is the combined operations of GE Digital, Renewable Energy and GE Power. Its Grid Solutions business provides equipment, systems, and services to utilities and industries globally.

Per the deal, GE will supply twelve 400 kilovolts (KV) power transformers to Amprion, which will be installed at nine substations. General Electric will replace the outdated transformer fleet installed in the 1970s with its advanced power transformers. GE’s transformers collectively have the total capacity of producing more than 5,000 megavolt amperes of electricity, which will cater to the energy need of 29 million people who live and work in the area covered by Amprion’s grid. Its 11,000 km-long, extra-high voltage network stretches from lower Saxony to the Alps area. Approximately one-third of the country’s total economic output is generated from this area. General Electric’s state-of-the-art transformers will help Amprion boost capacity and maintain stability in their network.

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GE will produce the transformer units at its Mönchengladbach grid facility in western Germany. The power transformers are likely to be delivered to Amprion from 2025 to 2027.

Zacks Rank & Other Stocks to Consider

General Electric 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 here.

CAT’s earnings surprise in the last four quarters was 17.8%, on average. In the past 60 days, estimates for Caterpillar’s earnings have increased 10.5% for 2023. The stock has gained 62.7% in the past year.

Ingersoll Rand Inc. IR presently sports a Zacks Rank of 1. IR’s earnings surprise in the last four quarters was 14.9%, on average.

In the past 60 days, estimates for Ingersoll Rand’s earnings have increased 3% for 2023. The stock has gained 43.5% in the past year.

Eaton Corporation plc ETN currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter earnings surprise of approximately 3%, on average.

In the past 60 days, estimates for Eaton’s earnings have increased 3.9% for 2023. The stock has soared 56.9% in the past year.

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Caterpillar Inc. (CAT) : Free Stock Analysis Report

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Ingersoll Rand Inc. (IR) : Free Stock Analysis Report

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