GE To Modernize Brazilian Grid
GE Digital Energy business, a part of General Electric Company (GE), recently announced that it will provide grid modernization solutions to Brazil’s leading utility firms Furnas and Triangulo Mineiro Transmissora (:TMT) to help them cope up with higher electricity consumption and demand. It will also provide protection and control systems to improve the functionality of another Furnas transmission line.
General Electric makes its debut in ANEEL transmission auctions with TMT, a collaborative utility composed of Furnas and FIP Milão, reinforcing its presence in Brazil. GE Digital Energy business will support the 297 km transmission project by providing protection, control and communications systems with latest innovative technology. The protection and control technology is likely to minimize outages and identify faults faster, thus ensuring reliable operations.
In Brazil, industrial growth has led to a considerable increase in electricity consumption and demand leading to a rise in issues related to maintenance. In order to meet these challenges, General Electric will provide commissioning, installation and retroactive services. The project also includes engineering, configuration, panels and factory and site-acceptance tests, as well as training for engineers.
Utility companies have lately been investing in modernization of their existing infrastructure to propel future growth and are looking for innovative solutions for efficient power delivery. With the collaboration of both General Electric and TMT, Brazil’s utility sector is likely to improve the reliability of the grid and transport more reliable power to the fast growing regions. The strategic move is also expected to address a variety of energy challenges that are likely to affect Brazil’s electrical network.
General Electric is one of the most diversified technologies and financial service corporations in the world. The company’s segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions, and GE Capital. The Digital Energy business provides transmission and distribution solutions that provide power from the power plant to the consumers.
General Electric currently has a Zacks Rank #4 (Sell). Other stocks that look promising and are worth a look now include Noble Group Ltd. (NOBGY), having a Zacks Rank #1 (Strong Buy), and CLARCOR Inc. (CLC) and Crane Co. (CR), both having a Zacks Rank #2 (Buy).
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