Calon Energy has selected General Electric Company (NYSE:GE) to upgrade its Sutton Bridge Power Station in Lincolnshire with a broad range of hardware and software technologies to increase power production, improve efficiency and flexibility and reduce its operating costs. The 800-megawatt (MW) natural gas-fired combined-cycle power plant provides electricity to the East Anglian region of the United Kingdom, and the upgrades will help increase the competitiveness of the plant in the country’s challenging power industry.

Sutton Bridge’s two existing GE 9FA gas turbines and a D-11 steam turbine will be upgraded with multiple applications from the OpFlex* controls software suite, a Dry Low NOx 2.6+ combustor and Advanced Gas Path (AGP) technology solutions. The project represents the first 9FA AGP upgrade in the U.K. These enhancements will help the power station become a far more flexible, reliable and efficient plant able to meet the demands of the U.K.’s power needs today while also being able to respond to the requirements of the future with the introduction of the U.K. Power Market Balancing Mechanism. Sutton Bridge also will benefit from additional availability to generate power with extended periods between planned outages with these upgrade solutions. The project is expected to begin in mid-2016 and be completed some months later.

“This is a significant investment by Calon Energy, particularly in the current economic,” said Kevin McCullough, chief executive, Calon Energy. “We play an important role by providing energy at peak times and cover renewable generation intermittencies.”

The Sutton Bridge Power Station is adjacent to the River Nene and is located approximately 2 miles from the village of Sutton Bridge in Lincolnshire. GE’s upgrade package will include OpFlex Enhanced Transient Stability, AutoTune, Variable Load Path, Cold-Day Performance, Extended Turndown, Variable Inlet Bleed Heat and Variable Airflow and Steam Turbine Agility applications, steam turbine thermal blankets for improved cold-start capability and upgrades to balance-of-plant equipment to allow for additional performance improvement.

McCullough added, “Along with other combined-cycle gas turbine plants in the U.K., Sutton Bridge has competed with subsidized renewables, cheap coal and high gas prices. These upgrades will make the plant more competitive and, just as importantly, more flexible. GE originally built the plant. This collaboration demonstrates the confidence we have in their capabilities, and we are very pleased to continue our relationship with them.”

GE has managed the operation and maintenance (O&M) of the Sutton Bridge Power Station since 2013 under a multiyear services agreement. Currently, GE has more than 30 O&M people on-site managing the facility on behalf of Calon.

With more than 25 years of experience in O&M of power plants, GE currently manages more than 11 gigawatts at 22 sites in 11 countries. GE’s global resources and fleet expertise enable it to provide complete plant services and management, along with sharing best practices and technical knowledge with power plant owners. (Original Source)

Shares of General Electric opened today at $26.03 and are currently trading down at $25.68. GE has a 1-year high of $28.68 and a 1-year low of $23.41. The stock’s 50-day moving average is $26.49 and its 200-day moving average is $26.04.

On the ratings front, General Electric has been the subject of a number of recent research reports. In a report issued on July 20, UBS analyst Shannon O’Callaghan reiterated a Buy rating on GE, with a price target of $32, which represents a potential upside of 22.9% from where the stock is currently trading. Separately, on June 26, William Blair’s Nicholas Heymann reiterated a Hold rating on the stock and has a price target of $30.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Shannon O’Callaghan and Nicholas Heymann have a total average return of 17.0% and 2.3% respectively. O’Callaghan has a success rate of 79.5% and is ranked #144 out of 3729 analysts, while Heymann has a success rate of 44.4% and is ranked #2210.

The street is mostly Bullish on GE stock. Out of 7 analysts who cover the stock, 4 suggest a Buy rating and 3 recommend to Hold the stock. The 12-month average price target assigned to the stock is $33.00, which implies an upside of 26.8% from current levels.