Advertisement
UK markets close in 5 hours 47 minutes
  • FTSE 100

    7,957.99
    +26.01 (+0.33%)
     
  • FTSE 250

    19,811.02
    +0.36 (+0.00%)
     
  • AIM

    742.39
    +0.28 (+0.04%)
     
  • GBP/EUR

    1.1690
    +0.0021 (+0.18%)
     
  • GBP/USD

    1.2618
    -0.0020 (-0.16%)
     
  • Bitcoin GBP

    55,825.95
    +264.37 (+0.48%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,248.49
    +44.91 (+0.86%)
     
  • DOW

    39,760.08
    +477.75 (+1.22%)
     
  • CRUDE OIL

    82.09
    +0.74 (+0.91%)
     
  • GOLD FUTURES

    2,227.40
    +14.70 (+0.66%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,497.36
    +20.27 (+0.11%)
     
  • CAC 40

    8,248.60
    +43.79 (+0.53%)
     

General Electric (GE) Arm, NTPC Sign MOU on Decarbonization

General Electric’s GE subsidiary, GE Power India, has signed a Memorandum of Understanding (MOU) with NTPC Ltd., an Indian central public sector undertaking engaged in electricity generation and related activities. The agreement is aimed at reducing the carbon footprint of NTPC’s existing coal-fired power plants.

The agreement helps India progress in its efforts to adopt advanced powering technology to decarbonize power generation as it strives to achieve its net-zero goal.

This is a first-of-its-kind MOU partnering on research, development and engineering of technologies that will help NTPC reduce the amount of coal-fired in its units while simultaneously replacing it by co-firing alternative carboneous and non-carboneous fuels. The process will help in reducing the carbon footprint of NTPC’s coal-based power generation.

General Electric Company Price

General Electric Company Price
General Electric Company Price

General Electric Company price | General Electric Company Quote

ADVERTISEMENT

The deal with GE Power India will help NTPC co-fire biomass pellets beyond 20% and up to 100%, as well as enable co-firing of methanol. It will also explore options to introduce ammonia as a co-firing fuel and demonstrate technologies that enable co-firing with lower carbon fuels in coal-fired power plants.

Zacks Rank & Key Picks

General Electric presently carries a Zacks Rank #3 (Hold).
 
Some better-ranked stocks worth considering are as follows:

Applied Industrial Technologies, Inc. AIT presently sports a Zacks Rank #1 (Strong Buy). AIT delivered a trailing four-quarter earnings surprise of 24.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.

Applied Industrial has an estimated earnings growth rate of 14.3% for the current fiscal year. The stock has gained 39% in the past six months.

IDEX Corporation IEX presently carries a Zacks Rank #2 (Buy). The company pulled off a trailing four-quarter earnings surprise of 5.7%, on average.

IDEX has an estimated earnings growth rate of 28.4% and 6.1% for the current and next years, respectively. The stock has rallied 28% in the past six months.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

General Electric Company (GE) : Free Stock Analysis Report

Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report

IDEX Corporation (IEX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research