- The United States industrial giant, General Electric, has announced that it would shut or sell coal fired power sites as it prioritised its renewable energy and power generation businesses.
- It comes ahead of a US Presidential election in which the candidates hold starkly different views on coal.
- NGO the Natural Resources Defense Council said the move was “about time”.
In a press release, GE announced that its Steam Power business will work with customers on existing obligations as it pursues this exit, which may include divestitures, site closings, job impacts and appropriate considerations for publicly held subsidiaries.
Russell Stokes, GE’s senior vice president, said: “With the continued transformation of GE, we are focused on power generation businesses that have attractive economics and a growth trajectory.
“As we pursue this exit from the new build coal power market, we will continue to support our customers, helping them to keep their existing plants running in a cost-effective and efficient way with best-in-class technology and service expertise.”
GE said it would continue to service existing coal power plants, but warned jobs could be lost as a result of its decision.
Author: Bryan Groenendaal
Source: GE
