General Electric (GE) Arm Wins Wind Turbine Deal From Continuum General Electric (GE) to offer 37 units of 2.7-132 onshore wind turbines to 99.9 MW Rajkot wind farm in Gujarat, India.

General Electric Company's GE business unit, GE Renewable Energy, recently secured a contract from Continuum Trinethra Renewables Pvt Ltd for delivery, installation and commissioning of onshore wind turbines. Continuum Trinethra is a subsidiary of Continuum Green Energy India Pvt Ltd. Financial terms of the contract were kept under wraps.
General Electric's share price gained 0.2% yesterday, eventually closing the trading session at $102.46.
Continuum Green Energy provides renewable energy solutions to industrial consumers across India. It owns and operates 226.8 MW wind-solar hybrid project in Tamil Nadu and is constructing a 240 MW wind-solar hybrid project in Gujarat.

Inside the Headline

GE Renewable Energy will be responsible for supplying 37 units of 2.7-132 onshore wind turbines. The turbines will be set up in the 99.9 MW Rajkot wind farm located in Gujarat, India. The deal will likely help the wind farm to generate sufficient power for local consumers and businesses, thus catering to the increasing demand for renewable and sustainable energy.
As noted, the product design will be done at the company's technology center in Bengaluru, while the blades for the wind turbines are to be supplied by its plants located in Vadodara. The product assembly will take place at the company's multi-modal manufacturing plant in Pune. The wind turbines are anticipated to work efficiently in Gujarat, which has low wind speed conditions.
This contract strengthens GE Renewable Energy's ties with Continuum Green Energy. In 2021, the company received a contract from Continuum Green Energy to provide 55 units of its 2.7-132 onshore wind turbines for the 148.5 MW wind farm in Morjar, Bhuj, Gujarat.
It's worth noting that in 2021, GE Renewable Energy clinched more than 1.2 GW of orders in India, making it the biggest manufacturer of wind turbine original equipment in the country.

Zacks Rank, Price Performance and Estimate Trend

General Electric, with a $112.3 billion market capitalization, currently carries a Zacks Rank #4 (Sell). The company has been experiencing weakness in the onshore wind market in the United States and headwinds related to supply-chain constraints and inflationary pressures. However, its portfolio-restructuring program, expansion in the digital business and product innovation are likely to aid.

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In the past three months, its share price has decreased 1.8% compared with the industry's decline of 3.9%.
In the past 30 days, the Zacks Consensus Estimate for the company's bottom line for 2021 (results are awaited) has gone down from $2.03 to $2.01, owing to three downward estimate revisions versus none upward. The consensus estimate for its earnings for 2022 has gone down from $4.02 to $4.00 due to three downward estimate revisions versus none upward.

Key Picks

Some better-ranked companies are discussed below.
Berry Global Group, Inc. BERY presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Its earnings surprise in the last four quarters was 16.50%, on average.
In the past 30 days, Berry Global's earnings estimates have increased 0.1% for 2021 (results are awaited) and 0.4% for 2022. BERY's shares have gained 15.5% in the past three months.
Carlisle Companies Incorporated CSL presently carries a Zacks Rank #2 (Buy). Its earnings surprise in the last four quarters was 38.89%, on average.
In the past 30 days, Carlisle's earnings estimates have been stable for 2021 (results are awaited) and increased 0.8% for 2022. CSL's shares have gained 11.2% in the past three months.
Danaher Corporation DHR presently carries a Zacks Rank #2. Its earnings surprise in the last four quarters was 24.05%, on average.
Danaher's earnings estimates have increased 0.1% for 2021 (results are awaited) and 1.4% for 2022 in the past 30 days. DHR's shares have lost 3.1% in the past three months.

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