GE to Stop Selling Equipment for New Coal-Fired Power Plants
- Company moves to shrink vestige of 2015 deal with Alstom
- Exit furthers CEO’s reshaping of broader electricity operation
Photographer: Luke Sharrett/Bloomberg
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General Electric Co. plans to stop supplying equipment to new coal-fired power plants, exiting a market that relies on the dirtiest fossil fuel to focus on gas turbines and renewable energy equipment.
The move may include asset sales, site closings and job impacts, GE said in a statement Monday. The company’s Steam Power operation will continue to service existing coal power plants while also providing equipment for nuclear plants.