GE to pursue exit from new build coal power market

• 3 years ago (2020-09-22)
• David Flin

Coal 273

---

GE has announced that it intends to exit the new build coal power market, subject to applicable consultation requirements. GE’s 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.

GE said that it will continue to focus on and invest in its core renewable energy and power generation businesses. GE Steam Power said that it will continue “to deliver turbine islands for the nuclear market and service existing nuclear and coal power plants.”

Russell Stokes, GE Senior Vice President and President and CEO of GE Power Portfolio, 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.”