Washington : General Electric will divide itself into three public companies focused on aviation, healthcare and energy. The company said Tuesday that it will spin off its healthcare business in early 2023 and its energy segment, which includes its renewable energy, power, and digital businesses, in early 2024. GE will maintain a 19.9% stake in […]
How Siemens Energy Is Targeting the US Green Hydrogen Opportunity
The latest test at the Utah mega-project marks the third U.S. entry into electrolysis, storage and the use of carbon-free fuel. Green hydrogen is both an untested and a potentially vital way for renewable-energy-powered grids to store their intermittent power for later use, not just for hours at a time, but for days, weeks or […]
Macquarie, Siemens units create US distributed energy joint venture
Electricity generation is forecast to increasingly move away from traditional structures involving large fossil fuel-burning power plants, towards localized systems using renewable energy and battery storage, known as distributed energy NEW YORK: Units of Macquarie Group and Siemens AG are forming a venture named Calibrant Energy, that will invest in the emerging energy-as-a-service (EaaS) sector […]
Emerson Acquires OSI for $1.6B as Grid Edge Software Landscape Consolidates
OSI is expanding its portfolio of utility software to the growing market for integrating distributed energy into the grid. The growth of distributed energy resources such as rooftop solar, behind-the-meter batteries, electric vehicle chargers and intelligent load controls is changing the world of building energy management and pushing the world’s biggest building technology and controls […]
NCLAT allows GE to sell stake in Baker Hughes with riders
A three-member bench headed by Chairperson Justice S J Mukhopadhaya also said that such sales should not affect the business of Triveni Turbine Ltd and its JV firm GE Triveni Ltd (GETL). New Delhi: The National Company Law Appellate Tribunal (NCLAT) Tuesday allowed General Electric (GE) to sell a controlling stake in its step-down subsidiary […]
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. […]
Germany’s Siemens says to cut 2,700 jobs worldwide
Industrial conglomerate Siemens said Tuesday it would slash 2,700 jobs worldwide at its gas and power unit, including 1,400 in its home country Germany, “over several years”. The division — set for an independent stock market flotation in 2020 — will “require further savings of 500 million euros” ($560 million), Siemens said in a statement. […]
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 […]
General Electric sees turnkey opportunity in India’s renewable power sector
Disconnect between wind projects awarded and executed, says GE Senior VP American energy giant General Electric (GE) is increasing its footprint in India’s power sector by integrating its renewable and grid offerings. On March 1, GE, which got a foothold in the country after acquiring Alstom’s energy business globally in 2015, announced the integration of […]