“This is not going to be a quick fix, but there is, at the end of the day, long-life assets here with intrinsic economic value. It is investing in its separate, $10 billion-a-year renewables unit focused on wind and hydro, which saw revenue fall 6 percent last year. After acquiring the Alstom power business in 2015, GE has a base of customers that produces one-third of the world’s electricity. Utilities there are shutting down the equivalent of about 20 average-sized coal plants this year, according a Reuters analysis of data from power system operator ERCOT. It said it has no current plans to build more such plants.“Solar is very cheap,” spokesman Dan Genest said.

Source: Egypt Today May 24, 2018 07:52 UTC