⌛ Did you miss ProPicks’ 13% gains in May? Subscribe now & catch June’s top AI-picked stocks early.Unlock Stocks

GE to send $1.7B wind platform to North Sea

Published 06/02/2017, 10:59 AM
© Reuters.  GE to send $1.7B wind platform to North Sea
GE
-
SIEGY
-
  • General Electric (GE) says it is ready to ship a €1.5B ($1.7B) 900 MW offshore wind platform to the North Sea, according to the head of GE’s power unit in Germany.
  • The Dolwin3 platform is undergoing final dry-dock tests before being floated around Denmark and into the North Sea; it will bundle power from three wind farms next year, transmitting high-voltage direct current onshore, where it can then be reconverted to alternating currents for use in homes.
  • The exec says GE and Siemens (OTCPK:SIEGY) are well situated as offshore prices fall and where driving down costs is the key to profitability, because they are the only the two companies that make converter platforms and turbines.
  • Now read: GE: Can This Dog Still Hunt?


Original article

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.