GE

IEEFA Research

IEEFA U.S.: Energy transition to renewables likely to accelerate over next two to three years

IEEFA U.S.: Energy transition to renewables likely to accelerate over next two to three years

Coal, gas set to become biggest losers as renewable generation climbs quickly

March 31, 2021 (IEEFA) — The speed and scope of the energy transition to renewables will pick up pace over the next two to three years, according to the Institute for Energy Economics and Financial Analysis’ U.S. Power Sector Outlook 2021. Solar and battery storage adoption is enjoying almost exponential growth, and wind and solar […]

IEEFA U.S.: Virginia coal plant’s future isn’t bright: preparation for  transition should commence now

IEEFA U.S.: Virginia coal plant’s future isn’t bright: preparation for transition should commence now

Virginia City Hybrid Energy Center (VCHEC), one of the newest in U.S., risks closure due to market forces

December 16, 2020 (IEEFA)—Retiring the Virginia City Hybrid Energy Center (VCHEC) will bring unnecessarily abrupt economic hardship to Wise County if state and local officials do not begin to plan now for a transition, concludes a report published today by the Institute for Energy Economic and Financial Analysis. The 8-year-old coal-fired power plant, owned by […]

IEEFA Japan: ¥26 billion loss on Australian coal power plant raises questions for Sumitomo and its investors

Sumitomo’s coal policies are lagging its trading house peers and the Japanese government

23 November 2020 (IEEFA Japan): As the government of Japan’s energy policy shifts significantly and Japanese trading houses exit coal projects overseas, Sumitomo Corporation continues to develop coal power projects and has seen its thermal coal output grow according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The report, […]

IEEFA report: GE’s Q3 loss, write-off likely to be $9+billion

IEEFA report: GE’s Q3 loss, write-off likely to be $9+billion

More red ink to follow as O&G division has nearly $25 billion on balance sheet

October 4, 2019 (IEEFA U.S.)  ̶  General Electric’s misreading of changing dynamics in the energy sector and its Oil & Gas (O&G) division’s 2017 merger with oil services company Baker Hughes have cost the company billions, according to a report released today by the Institute for Energy Economics and Financial Analysis (IEEFA). The report, GE’s […]

IEEFA report: Risk factors multiply for GE as California power plant shutters—20 years early

IEEFA report: Risk factors multiply for GE as California power plant shutters—20 years early

Lackluster demand for natural gas may continue to dampen revenues

July 25, 2018 (IEEFA U.S.) – The closure of a $1 billion natural gas power plant in southern California, only 10 years into its planned 30-year life cycle, spells trouble for GE, according to a report released today by the Institute for Energy Economics and Financial Analysis (IEEFA). The report, New Risk Factors Emerge as […]

IEEFA report: GE made a massive bet on the future of natural gas and thermal coal, and lost

IEEFA report: GE made a massive bet on the future of natural gas and thermal coal, and lost

Investors lost hundreds of billions by GE’s misreading of the energy transition

June 6, 2019 (IEEFA U.S.) – Investors lost billions when the (once) most valuable company in the world, General Electric Company (GE) and its largest shareholders – BlackRock, Vanguard, State Street and Fidelity – misjudged the pace of the global energy transition and subsequent collapse of the gas turbine and thermal power construction market, a […]

More News and Commentary

GE, partners study cost-saving potential in 3D printing offshore wind turbine components

Power Engineering International: GE Renewable Energy, Fraunhofer IGCV and voxeljet have announced a research partnership to develop what is claimed to be the world’s largest 3D printer for offshore wind applications. The Advance Casting Cell (ACC) 3D printer is currently under development and aims to streamline the production of key components of GE’s Haliade-X offshore […]

September 20, 2021 Read More →

Developers secure $2.3 billion in financing for 800MW offshore wind farm in Massachusetts

Reuters: Vineyard Wind, which is on track to be the first major U.S. offshore wind farm, closed on a $2.3 billion loan and will begin construction in Massachusetts as soon as this week, the project’s developer said on Wednesday. The senior debt financing allows the project, a joint venture between Avangrid Inc. and Copenhagen Infrastructure […]

September 16, 2021 Read More →

Major wind turbine manufacturers struggle with lower earnings

Wall Street Journal ($): The world’s appetite for green energy is greater than ever, but that isn’t translating into big profits for some of the companies behind the boom. Top wind-turbine makers are struggling with lower earnings as rising raw- material costs, problems shipping the hulking machines, and uncertainty over the future of U.S. subsidies […]

August 23, 2021 Read More →

Deal for $1.1 billion China-backed coal-fired plant in Bosnia threatened

Reuters: A Chinese-backed deal to help Bosnian utility EPBiH expand its Tuzla coal-fired power plant has run into problems following General Electric’s (GE.N) withdrawal from the project, a senior Bosnian official told Reuters on Thursday. Nermin Dzindic, industry and energy minister in the government of Bosnia’s autonomous Bosniak-Croat Federation, made the comments following the publication […]

July 16, 2021 Read More →

GE announces plans to curb all carbon emissions created by its products

Bloomberg ($): General Electric Co. vowed to curb the greenhouse gases produced by the use of its products—including thousands of fossil-fueled turbines and jet engines in operation around the world—in a bid to achieve net-zero emissions by 2050. The new goal, announced in GE’s annual sustainability report on Monday, signals that the industrial giant plans […]

July 13, 2021 Read More →

Funding for $3B Zimbabwe coal plant dumped by biggest China bank

Bloomberg Quint:  China’s biggest bank dumped a plan to finance a $3 billion coal-fired power plant in Zimbabwe, dealing a blow to coal developers in Africa that see the Asian country as the last potential funder of their projects. Industrial and Commercial Bank of China Ltd. told Go Clean ICBC, an ad-hoc body representing 32 […]

June 30, 2021 Read More →

Nordex boosts share in booming Finland wind turbine market

Wind Power Monthly: Nordex has secured a 199.5MW order for four wind farms in the west of Finland, taking its annual total for the market beyond 500MW already. It will supply N163/5.X turbines to four projects in the interior of the mid-west of Finland, as well as in the west of the country, near to […]

June 23, 2021 Read More →

Biden offshore wind plans meet stiff headwinds for major expansion

New York Times ($):  A constellation of 5,400 offshore wind turbines meet a growing portion of Europe’s energy needs. The United States has exactly seven. With more than 90,000 miles of coastline, the country has plenty of places to plunk down turbines. But legal, environmental and economic obstacles and even vanity have stood in the […]

June 8, 2021 Read More →
IEEFA: Birchwood coal facility closure/redevelopment highlights transition from coal to renewables

IEEFA: Birchwood coal facility closure/redevelopment highlights transition from coal to renewables

Birchwood plant shifts from coal showcase to solar-plus-storage resource

The Birchwood coal facility in Virginia is emblematic of the rapid transition from coal to renewable energy underway in the U.S. Four years ago, General Electric, which owns half of the 242-megawatt (MW) unit, planned to make the facility a showcase of its digital technologies, promising efficiency improvements, reduced emissions and lower costs. Earlier this […]

April 13, 2021 Read More →
IEEFA: Bangladesh needs a renewables focus, not a switch from ‘coal to gas’

IEEFA: Bangladesh needs a renewables focus, not a switch from ‘coal to gas’

Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations

The emerging markets of Bangladesh and Vietnam are alluring for foreign energy companies looking to make money in the region. But these nations stand to lose both economically and environmentally through a pivot from coal to gas. Such a switch risks hindering investment into renewable energy and derailing climate progress across the continent. In Bangladesh, […]

April 13, 2021 Read More →