25 May '11, 5pm

GE's big bet on natural gas | new blogpost #energy #ge

GE's big bet on natural gas | new blogpost #energy #ge

General Electric Co. (GE) is betting big on natural gas. The $150-billion a year company, whose power plants generate about one-fourth of the world’s electricity, today announced a new natural-gas power plant that it says is more efficient and flexible than any other in the market. By phone from Paris, where the announcement was made, Steve Bolze, president of GE Power & Water, told me: “This is about transforming the industry over the next five or 10 years.” GE says it invested more than $500 million in the new plant development. It will be manufactured in France and sold first in Europe and Asia, and then later in the U.S. One key selling point of the new plant is its unprecedented flexibility: It can ramp up and down rapidly, and thus be easily combined with wind and solar power plants that generate electricity intermittently. It’s also efficient enough to work as a gen...

Full article: http://www.marcgunther.com/2011/05/25/ges-big-bet-on-natu...

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