Tuesday, October 27, 2020
News

GE to pursue exit from new-build coal power market

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mumbai (Maharashtra) | September 22, 2020 2:42:22 PM IST
GE Power India said on Tuesday it is examining the implications of its parent company's decision to exit the new-build coal power market.

"The company will continue to focus its efforts on maintaining its business in India aligned with local market dynamics," it said in a statement.

A day earlier (US local time), GE said 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 will continue to focus on and invest in its core renewable energy and power generation businesses, working to make electricity more affordable, reliable, accessible and sustainable," it said.

GE steam power will continue to deliver turbine islands for the nuclear market and service existing nuclear and coal power plants.

"With the continued transformation of GE, we are focused on power generation businesses that have attractive economics and a growth trajectory," said Russell Stokes, GE Senior Vice President and President & CEO of GE Power portfolio.

"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," he said. (ANI)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
GST collections in Oct may cross Rs 1 la...
Medihauxe Pharma is fully equipped to ha...
Odd Loop, a new-age creative agency in D...
Training Basket: Shaping your present fo...
Equity indices open flat...
Stock markets slide over rising Covid-19...
More...
 
INDIA WORLD ASIA
Chandigarh-based group raises money for ...
Firecracker factories in Ahmedabad face ...
Sonia Gandhi slams Bihar govt, says peop...
4 held for stealing 58 bags of onions fr...
Uttarakhand Chief Secretary directs offi...
Telangana reports 837 new COVID-19 cases...
More...    
 
 Top Stories
13 missing as typhoon Molave hits P... 
Pelosi, Mnuchin continue Covid-19 r... 
India, US working closely in Defenc... 
AB de Villiers pulls out of BBL... 
India Internet Engineering Society ... 
udChalo empowers Bhaarat ka Bharat ... 
Hyderabad airport introduces e-boar... 
Russia records 16,550 COVID-19 case...