Dive Summary:

• General Electric Co. (GE) announced the production of a new line of gas-powered turbines designed to efficiently supplement renewable devices when their target energy source isn’t available.
• Chubu Electric Power Co., Saudi Electricity Co., and Xcel Energy Inc. are among customers placing almost $1.2 billion of orders for 19 of the new turbines.
• The new turbines, which cost almost $700 million in the research and development phase, are for countries where power is transmitted at a frequency of 60 hertz, which includes the U.S., Canada, Brazil, Japan, and Saudi Arabia.

From the article:

General Electric Co. (GE) introduced a new line of gas-powered electrical turbines designed to run alongside renewable energy sources in markets from the U.S. to Saudi Arabia to Japan.

The turbines are designed to efficiently ramp up to provide electricity when the sun isn’t shining or the wind isn’t blowing and to burn less fuel when operating at less than peak capacity, GE said in a statement today. Chubu Electric Power Co. (9502), Saudi Electricity Co. (SECO) and Xcel Energy Inc. (XEL) are among customers placing almost $1.2 billion of orders for 19 of the new turbines, the company said. ...