On Monday, Shares of General Electric Company (NYSE:GE), lost -2.93% to $23.87.
Ongoing its mission to deliver comprehensive energy storage solutions, General Electric Company declared 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, about 100 miles east of San Diego. The facility will aid grid flexibility and enhance 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.
General Electric Company (GE) operates as an infrastructure and financial services company worldwide. The company’s Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment.
Shares of Yahoo! Inc. (NASDAQ:YHOO), declined -4.92% to $31.31, during its last trading session, hitting its lowest level.
Third Point LLC, the hedge fund firm run by activist investor Daniel Loeb, has settled U.S. regulatory charges that it failed to properly seek antitrust clearance while it built a big stake in Yahoo Inc in 2011, according to Reuters.
The settlement, declared on Monday by the U.S. Department of Justice and Federal Trade Commission, resolves claims that Third Point took five weeks too long to tell antitrust regulators it planned an activist stake in Yahoo, after having crossed a threshold requiring disclosure. Reuters Reports
Third Point will not pay a fine but entered a five-year agreement to make appropriate disclosures.
The FTC vote was 3-2, with the dissenting commissioners saying the New York-based firm should not have been sanctioned.
A Third Point spokeswoman did not right away respond to a request for comment. Reuters added.
Yahoo! Inc. provides search and display advertising services on Yahoo properties and associate sites worldwide. The company offers Yahoo Search that serves as a starting point to navigate the Internet and discover information; and Yahoo Answers, which enables users to seek, discover, and share knowledge and opinions across mobile phones, tablets, and desktops.
Finally, Denbury Resources Inc. (NYSE:DNR), ended its last trade with -7.63% loss, and closed at $3.27, as Oil prices plunged to fresh six-year lows Monday on concerns about a slowdown in Chinese demand and growing crude-oil supplies in the U.S., according to WSJ.
Brent, the global oil benchmark, fell through its January lows to trade below $45 a barrel for the first time in six years. Brent settled down $2.77, or 6.1%, at $42.69 a barrel on ICE Futures Europe, the lowest settlement since March 2009. WSJ Reports
The U.S. oil benchmark settled down $2.21, or 5.5%, at $38.24 a barrel on the New York Mercantile Exchange, the first settlement below $40 a barrel since February 2009. WSJ added.
Denbury Resources Inc. operates as an independent oil and natural gas company in the United States. The company primarily focuses on improved oil recovery utilizing carbon dioxide. It holds properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.
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