This article first appeared on GuruFocus.
GE Vernova (NYSE:GEV) shares rose about 2% in early Monday trading after the company signed a deal to supply three onshore wind turbines for a project in Germany.
Each turbine has a capacity of 5.5 megawatts, or about 16.5 megawatts in total. A megawatt is a unit of power equal to one million watts.
The onshore turbines, installed on land rather than at sea, are for the Schlotberg-Juchsen wind farm being developed by Stadtwerke Heidenheim. The order also includes a 20-year service agreement.
With the order, Stadtwerke Heidenheim’s installed GE Vernova turbine capacity in Germany would reach 74 megawatts.
Deliveries are scheduled to begin in August 2027. Commissioning, the stage when turbines are tested and put into operation, is expected in December 2027.
That leaves about four months between the first deliveries and expected commissioning.
GE Vernova booked the order in the fourth quarter of 2026. Booking an order means recording it as a confirmed contract, with revenue typically following as deliveries are made.
The turbines will be built at GE Vernova’s Salzbergen factory in Germany.
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
