With BlackRock as a partner and a new focus on project ownership, GE’s under-the-radar solar business may be in for noisier days ahead. General Electric is a big and sprawling company that’s undergone some dramatic reorganizations over the past few years, particularly in its renewable energy, energy storage and grid edge business lines. But over […]
GE gas plant to close 20 years early, become battery storage site — sign of the times?
General Electric will demolish a California natural gas-fired plant with 20 years remaining in its useful life, deeming the plant “uneconomical” as inexpensive solar and wind grab a larger share of power in the state. The Inland Empire Energy Center (IEEC), a 750 megawatt plant, is slated for closure by the end of the year. […]
Chinese Manufacturers Could Rule the Offshore Wind Market Without Ever Leaving Home
China dominates the world’s solar and onshore wind markets. Offshore wind is not far behind. China’s offshore wind manufacturers could become the world’s leading suppliers, even if they fail to break out of their own domestic market. The potential size of China’s surging offshore wind market means that, despite having less advanced technology than their […]
GE lost billions by ‘misjudging’ renewables: report
Investors in General Electric, once one of the world’s most valuable companies, lost tens of billions of dollars after the Paris climate deal as it failed to adapt to the pace of the green energy transition, new analysis showed Thursday. A report by the Institute for Energy Economics and Financial Analysis (IEEFA) said GE had […]
GE books more power plant orders, beats Mitsubishi, Siemens: sources
NEW YORK: General Electric Co won the most orders in the sharply contracting market for new gas-fired power plants in the first quarter, according to people familiar with the matter. But GE faces rising competition, complicating new Chief Executive Larry Culp’s efforts to turn around the company’s ailing power unit. GE booked six orders for […]
GE stock could still tank despite upbeat earnings report — here’s why
Despite better than expected first quarter earnings and a minor stock price pop, GE still has a lot to prove to investors — and then some. Chief among that long list is stabilizing the struggling power business, which represents about 22% of annual sales. If turnaround specialist now GE CEO Larry Culp can’t fix power’s […]
Israel’s Megalim solar thermal power plant starts operations
The 3 billion shekel ($839 million) project was announced in 2008 and construction began at the end of 2014 under the leadership of GE Renewable Energy. The technology uses 50,600 mirrors spread over a 3 square kilometre site. Tel Aviv: The Megalim solar thermal power plant, a joint venture of BrightSource, GE Renewable Energy and the Noy Fund, said on […]
GE appoints Prashant Jain to lead GE Steam Power in South Asia
GE on Friday announced appointment of Prashant Jain to lead the global conglomerate’s steam power business in South Asia. Prashant will officially assume the role of Regional General Manager GE Steam Power South Asia and Managing Director GE Power India on April 17, 2019, a company statement said. He joins GE from Siemens where he […]
GE Sells 650MW of Renewable Energy Assets to Enel, Despite Plans to Grow Renewables Arm
GE’s joint venture projects don’t appear to be part of its renewable energy growth plan. General Electric has sold 650 megawatts of joint venture-owned renewable energy projects, less than two months after trumpeting an expansion of its renewables arm. The sale involved seven projects belonging to Enel Green Power North America Renewable Energy Partners (EGPNA […]
GE Says Its New Battery Product Can Cut Grid-Scale Storage Installation Times in Half
After a reboot, the energy giant is getting more serious about storage. GE has released a containerized energy storage product with a competitive advantage for installation time. The 1.2-megawatt, 4-megawatt-hour Reservoir system marks a new entry into the standardized, large-scale battery market. It reflects a strategic shift at GE’s storage practice, which recently reorganized after […]