General Electric’s Company (NYSE:GE) signs MOU

Posted by Samantha Donahue June 24, 2013 0 Comment 1782 views

General Electric Company (NYSE:GE) is currently trading at $23.10 after plunging down by 1.11% (-$0.27). The stock traded during the day in the range from $22.76 to $23.15. Around 37.32 million shared were traded during the day which is lower than the average volume of 42.86 million shares calculated over 30 days.

General Electric’s Company Power Conversion signed a Memorandum of Understanding together with Yingda International Leasing Co., Ltd. (“Yingda”) and Sinoma International Engineering Co., Ltd. (“Sinoma International”). Under the terms of this MOU, all the 3 companies will share their resources and cooperate nicely so as to develop solar energy business in the country, China and abroad. This cooperation involves the development of government relations, financing and technology management. The key objectives of these companies would be to ensure the quality of the product and also reduce pressure on financial constraints and cash flow which the (engineering, procurement and construction contractors) EPCCs may face during executing the large photovoltaic energy projects. The Chinese government has declared their targets of reducing the energy use per unit of gross domestic product and the carbon emissions by at least 3.7 percent in 2013. The solar energy industry of china has maintained a rapid and a continuous growth. A complete range of inverters are provided by GE’s Power Conversion business. These central inverters are based on a compact and a modular approach and are specially designed for solar industry. ProSolar Central Solar Inverter of General Electric is the latest development which is designed for the solar industry. Medium and large scale PV power plants are attracted by ProSolar Convertors of General Electric because of their capacity to handle input voltages of 1000 V.

There is a feature of latest cooking technology in the new wall oven of General Electric. Aspiring home cooks will be amazed by this technology as it will make it easier than ever to bake food.

About Samantha Donahue

Samantha Donahue is a digital fellow with GDP insider. Samantha earned a Bachelor's degree in Government from Cornell University and later his Master's degree in Journalism from Columbia University. She has also received numerous awards from the Associated Press, Society of Professional Journalists, and other media organizations for many of her exclusive stories. Samantha thrives reporting on breaking news and as a general assignments news reporter.

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