26 Jun '18, 4pm

Renewables are now core focus of @generalelectric @GErenewables

General Electric announced the final result of its sweeping strategic review on Tuesday, betting its future on three industrial segments – Aviation, its gas-turbine-centric Power business, and Renewable Energy – in a move with important implications for the global renewables industry. The restructuring catapults France-based GE Renewable Energy – as well as unit chief executive Jerome Pecresse – into positions of greatly increased prominence within GE. The unit will become the third largest global business for GE; previously it had been fifth largest. The overhaul includes a planned divestment of GE’s interest in the Baker Hughes oil & gas business as well as the spin-off of GE Healthcare as a standalone operation, on top of a variety of smaller deals announced in recent months. All of this comes as part of a bid to right the ship at GE, which had lost more than $100bn of ...

Full article: http://www.rechargenews.com/transition/1520535/renewable-...

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