POWER Notebook: ‘Coal on Way Out’, Theme Parks Embrace Renewables

Credit to Author: Darrell Proctor| Date: Sun, 17 Mar 2019 16:13:55 +0000

The chief executive of Vistra Energy Corp. last week said coal is not likely to regain market share in the U.S. power market. Curtis Morgan, in a panel discussion March 14 at the CERAWeek event in Houston, Texas, said “coal is on its way out. More and more plants are being retired.” It’s not the […]

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Financial and Gas Turbine Blade Troubles Plague GE Power

Credit to Author: Sonal Patel| Date: Thu, 07 Feb 2019 14:27:09 +0000

GE Power’s financials spun out further on a dismal trajectory during the fourth quarter of 2018, plagued by slack market demand for products and services, technical glitches of a flagship gas turbine model, and poor project execution. Despite a series of divestments and corporate reshuffles, including of leadership, for the 12 months that ended on […]

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Siemens Cutting 2,900 Jobs, Vying with GE for $15B Iraqi Contract

Siemens on September 24 said it would cut about 2,900 jobs, mostly from its Power and Gas division in Germany, as it continues restructuring to achieve cost savings amid a tough global market for turbine manufacturers. Siemens on Monday said the cuts will save the company about €270 million ($318 million) and is part of […]

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3-D Printed Gas Turbine Technology Marks ‘Game Changing’ Milestone

The world’s first 3-D printed burner for an industrial gas turbine has been in operation for one year with no reported issues. Siemens, which installed the burner for the 32.8-MW SGT-7000 gas turbine at E.ON’s combined cycle power plant in Philippsthal in the German state of Hessen said on September 19 that it has been […]

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Siemens Combining Business Units as Part of New Strategy

Siemens reported a 2% rise in industrial profit for its fiscal third quarter on August 2, topping analyst forecasts, though the German engineering giant also reported that revenue for the quarter dropped 4%. The earnings report comes as the company prepares to implement a new strategy that cuts its number of business divisions. The company […]

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GE Cutting 225 Jobs at New York Campus

General Electric (GE), long considered the most-prominent business in Schenectady, New York, on April 7 announced another 225 job cuts at its main campus in the city. The announcement comes as GE continues to restructure its operations amid a downturn in global demand for the company’s turbines. GE cut about 110 jobs at the Schenectady […]

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Restructuring on Horizon for Siemens and GE

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, according to media reports. Reuters on June 21, citing a person familiar with the matter, said Siemens plans to merge or trim some of its […]

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Restructuring on Horizon for Siemens and GE

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, according to media reports. Reuters on June 21, citing a person familiar with the matter, said Siemens plans to merge or trim some of its […]

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