GE PLANS TO STOP BUILDING COAL-FIRED POWER PLANTS

General Electric Co. (GE) said on Monday it plans to stop making new coal-fired power plants, as the US industrial conglomerate focuses more on renewable sources of power generation, Ankit Ajmera reported for Reuters.

The company, which also makes aircraft engines, said the exit from the business could include divestitures, site closings and job cuts.

GE had competed intensely with Westinghouse in building nuclear power plants for the past several decades, including the mothballed Bataan Nuclear Power Plant (BNPP) in the Philippines that never produced a single watt of electricity.

Coal-fired power plants have also taken a beating as Europe and countries in other continents have opted to go for renewable energy sources, with Germany planning to achieve 100% renewables by 2030.

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