GE Shines in Solar Deal
An agreement to supply 23 megawatts of advanced solar equipment to Invenergy, has been announced by General Electric (NYSE:GE). This thin film solar panels will be installed at Invenergy’s Grand Ridge Solar project, now being built in Illinois. Additionally, GE also will supply packaged inverter skids that include Brilliance inverters, transformers and re-combiners, plus GE SunIQ plant controls.
Converteam has been renamed Power Conversion by GE Energy, as the next step in the integration of its acquisition of the business. Power Conversion will be able to better fulfill the needs of customers looking to improve operational efficiency, by way of productivity technologies in process controls, automation systems and high-efficiency power electronics, motors and generators. Acquisition of Power Conversion will help GE expand its presence in the fast-growing energy efficiency, electrification and automation sector, and maximize its deep domain expertise in the sector, which was valued at $30B. The sector’s growth is above global GDP.
Here’s how GE shares closed:
General Electric Co. (NYSE:GE): GE shares recently traded at $18.99, up $0.25, or 1.33%. They have traded in a 52-week range of $14.02 to $21.65. Volume today was 47,606,041 shares versus a 3-month average volume of 63,972,600 shares. The company’s trailing P/E is 14.53, while trailing earnings are $1.31 per share.