GE Intelligent Platforms, a part of General Electric (GE), will be working on the Alaska Utility Privatization Project being developed by Doyon Utilities LLC. The project will use GE’s Proficy Process Systems, providing productive and flexible power generation solution.
Doyon has received this utility privatization contract for the United States Army Forts Wainwright, Richardson and Greely in Fairbanks, Anchorage and Delta Junction, Alaska. The period of contract is 50 years, during which Doyon will have ownership of the electric, natural gas, steam and potable water distribution systems, as well as the wastewater collection system. Doyon will be responsible for the operation and maintenance of these systems and aims to improve the quality and efficiency of the systems over time.
General Electric’s Proficy Systems provides a solution to Doyon’s goal of providing a quick upgrade to the existing aging infrastructure at a low implementation cost. The Proficy Process Systems and Proficy Historians, together with GE’s Proficy Troubleshooter software, provide an accurate and stable control of optimized boiler. These systems also regulate power generation and provide scope for future expansion. With the help of these systems, Doyon will be able to calculate the use of electricity, water, wastewater and steam, which will help it to derive further benefits through conservation.
Proficy is a product of the company’s $4 billion annual revenue generating software and solutions services businesses, engaged in providing productivity improving solution to customers. Headquartered in Charlottesville, VA., GE Intelligent Platforms is a global provider of software, hardware, services, and has expertise in automation and embedded computing.
General Electric has one of the best infrastructure franchises worldwide with solid organic growth rates, exposure to favorable secular trends and a large installed base supporting a growing annuity-like service business. Infrastructure businesses of the company are helping to build energy, health, transportation and technology infrastructure of the new century. These businesses provide products and services that facilitate the developing regions to participate in the global economy, while also assisting developed regions to upgrade with cleaner, more efficient and better infrastructure technologies.
However, the company’s global expansion is subject to economic and political risks pertaining to various operating geographies.
Operating in more than 100 countries globally and employing about 300,000 people worldwide, General Electric Co. is a diversified infrastructure, finance and media company. Within the energy sector, the company aims to develop and install technology for the efficient use of natural resources. The major competitors of General Electric are Honeywell International Inc. (HON), Siemens AG (SI) and United Technologies Corp. (UTX).
We currently maintain our Neutral rating on General Electric, with a Zacks #3 Rank over the next one-to-three months.