GE (NYSE:GE) Lands $200 Million Saudi Deal
Modern Energy Roundup - March 27, 2012
By Jeff Siegel
Tuesday, March 27th, 2012
- GE (NYSE:GE) has announced that it landed a $200 million supply contract with Saudi Arabia. The deal has GE supplying steam turbine technology, power generation services and distributed control systems for Saudi Electricity Company. Saudi Arabia is looking to add an average of 4 gigawatts of power each year with the goal of doubling grid capacity by 2020. For those who want exposure to energy, but don't want to go “all-in” on a pure play, GE is a great way to do it. It's a solid long-term investment with a nice dividend.
Editor's Note: From solar and wind to geothermal and biofuels, Green Chip readers want to know which renewable energy resource will take over where fossil fuels leave off. The answer is...all of the above!
There is no one single solution to today's energy crisis. However, the combination of all viable renewable energy resources, coupled with energy efficiency, conservation and smart grid development will not only lead us to energy independence and a cleaner, more sustainable energy infrastructure — but also to what will soon prove to be the greatest investment opportunity of the 21st Century.
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