GE Forms JV In Russia For Mini Power Plants and 2 Other Hot Stocks to Watch
General Electric Company (NYSE:GE): Current price $24.33
On Tuesday, it was announced that GE will create a joint venture with Russia’s state-funded private equity vehicle Russian Direct Investment Fund, through which to build mini power plants across Russia. For over 20 years, the American company has been active in that country, providing signaling systems to the rail network, medical equipment to hospitals, and credit via its GE Money Bank. The mini power plants are low-power co-generation systems that generate as much as 25 megawatts, and are constructed independently of the federal power grid, thus without the need for transmission lines.