Continuing its mission to deliver comprehensive energy storage solutions, General Electric Company (NYSE:GE) announced it will provide Coachella Energy Storage Partners (CESP) with a 30-MW battery energy storage system as part of CESP’s supply contract with the Imperial Irrigation District (IID). Representing GE’s largest energy storage project to date, the plant will be located in California’s Imperial Valley, approximately 100 miles east of San Diego. The facility will aid grid flexibility and increase reliability on the IID network by providing solar ramping, frequency regulation, power balancing and black start capability for an adjacent gas turbine.

“We chose GE as the energy storage system provider for this project because they supplied the most comprehensive solution at a competitive price,” said Mike Abatti, president of CESP. “GE is well-positioned to serve the needs of the project and will remain a stable, reliable technology provider as the energy storage industry evolves.”

GE will provide CESP with an integrated energy storage solution, configured using GE’s Mark* VI plant controls, GE Brilliance* MW inverters, GE Prolec transformers, medium-voltage switchgear and advanced lithium ion batteries housed in a GE purpose-built enclosure. The plant will be operated by ZGlobal, an engineering collaborator with CESP, for the first 18 months, after which control will transfer to the IID.

“This project is a game changer to the energy industry and will be one of the largest battery storage plants in the western United States,” said Ziad Alaywan, P.E., a California energy veteran and president & CEO of ZGlobal Inc. “We are confident in GE’s technology and look forward to a successful project.”

The deal marks GE’s third project using lithium ion battery technology since expanding its portfolio in recent months, joining recent announcements with Con Edison Development in California and Convergent Energy + Power in Ontario.

“While we always strive to provide competitive pricing, what really differentiates GE is the fact that we listen to our customers and help craft a customized energy storage strategy,” said Anne McEntee, president and CEO of GE’s renewable energy business. “We focus on full system performance rather than individual component pieces, allowing customers to match power production with demand in real time and utilize grid assets more efficiently.”

GE anticipates project construction will begin early next year, with commercial operation scheduled for the third quarter of 2016. (Original Source)

Shares of General Electric closed yesterday at $25.73. 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 $26.26 and its 200-day moving average is $26.14.

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 implies an upside of 24.4% from current levels. 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 16.9% and 0.5% respectively. O’Callaghan has a success rate of 79.5% and is ranked #130 out of 3741 analysts, while Heymann has a success rate of 33.3% and is ranked #2493.

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 represents a potential upside of 28.3% from where the stock is currently trading.