Yahoo Finance General Electric (GE) Arm, NTPC Ink MOU on Hydrogen Co-Firing
General Electric Company GE unit GE Gas Power has signed a Memorandum of Understanding (MOU) with NTPC Ltd. for viability to demonstrate hydrogen co-firing blended with natural gas in GE's 9E gas turbines.
NTPC’s Gujarat-based Kawas gas power plant is fuelled by four GE 9E gas turbines. These turbines have an installed capacity of 645 megawatt and operate in a combined-cycle mode. When blended with natural gas, General Electric's state-of-the-art E- Class gas turbine can burn up to 100% by volume of hydrogen. However, the gas turbine accessories require assessment for fuels with more than 5% hydrogen by volume, and are modified to deliver the fuel to combustors reliably.
Per the deal, GE Gas Power will inspect alterations needed in the gas turbine unit and auxiliaries for blending hydrogen with natural gas. On the basis of viability, a pilot project for 5% hydrogen co-firing may be carried out at the Kawas gas power plant in a safe environment and the required hydrogen for the project will be provided by NTPC.
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GE and NTPC will work together to find new ways to reduce CO2 emissions from the Kawas gas power plant and the methods will be implemented across NTPC's other installed plants in India.
Zacks Rank and Stocks to Consider
General Electric currently carries a Zacks Rank #3 (Hold). Some better-ranked companies are discussed below:
Applied Industrial Technologies, Inc. AIT presently has a Zacks Rank #1 (Strong Buy) and a trailing four-quarter earnings surprise of 22.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
AIT’s earnings estimates have increased 5.1% for fiscal 2023 (ending June 2023) in the past 60 days. Its shares have risen 15.7% in the past three months.
Carlisle Companies CSL has a Zacks Rank #2 (Buy), currently, and a trailing four-quarter earnings surprise of 28%, on average.
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Eaton Corporation plc ETN presently has a Zacks Rank of 2. ETN’s earnings surprise in the last four quarters was 1.4%, on average.
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