General Electric (GE) saw its stock price surge more than 7% on June 26 after the company said it would dissolve its stake in oil services company Baker Hughes and…
News
News and technology for the global energy industry.
GE will sell its Distributed Power business, which includes the company’s Jenbacher and Waukesha engines, to Advent International, a global private equity investment company, in a deal worth $3.25 billion.…
Two Westinghouse AP1000 nuclear power plants being constructed in China have successfully completed significant project milestones. Sanmen Unit 1—the world’s first AP1000 reactor—achieved initial criticality on June 21. Initial criticality…
Siemens and General Electric, two rivals battling financial problems due to fewer orders for their flagship energy products and services, could each announce major restructuring moves in the coming weeks,…
Puerto Rico’s energy infrastructure must be redesigned and rebuilt with an emphasis on resilience—and that will require wide-ranging, long-term efforts, the Department of Energy (DOE) says in a new report.…
American Electric Power’s (AEP’s) proposed $4.5 billion Wind Catcher Energy Connection project—the largest single-site wind project in the nation—has garnered approval from the Louisiana Public Service Commission (LPSC). The LPSC…
For the first time since it began conducting sector outlooks, Moody’s Investors Service has downgraded the regulated utility sector from stable to negative. The new outlook reflects a surge in…
Siemens Chief Executive Joe Kaeser on June 19 said reports last week that the German engineering company was considering a sale of its gas turbines manufacturing unit are "media speculation."…
About half the world’s power will be generated by wind and solar resources by 2050. Generation from coal will drop more than 70% from today’s levels. That’s according to research…
Siemens still hasn’t commented on reports it could be looking to sell its gas turbine business. But the managing board member responsible for the company’s power and gas division reportedly…