Wednesday, November 3, 2010

General Electric (NYSE:GE) Receives Order for 55 Wind Turbines from Suncor (NYSE:SU)

Suncor Energy (NYSE:SU) has reportedly ordered 55 wind turbines from General Electric (NYSE:GE) for its project in Alberta, Canada.

The order is expected to be fulfilled by General Electric in the second quarter of 2011.

Teck Resources (NYSE:TCK) is a 30 percent partner with Suncor in the project, which has the remaining 70 percent stake. The Wintering Hills project is located 79 miles northeast of Calgary.

Approximately 35,000 homes will be supplied power from the 88 MW project.

Suncor closed Tuesday at $32.81, gaining $0.26, or 0.80 percent. Teck Resources closed in New York at $45.33, increasing $0.48, or 1.07 percent. General Electric closed at $15.94, losing $0.01, or 0.06 percent.

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