With its traditional gas-fired power business in decline, GE is looking to offshore wind for earnings growth: https://www.ft.com/content/c1fb080c-2ab5-11e8-9b4b-bc4b9f08f381 … via @financialtimes
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GE Renewable Energy CEO: “The conventional wisdom, three, four years ago at GE was thermal power [will] keep growing and offshore wind is a fantasy. Now offshore wind is not a fantasy, it’s a market."
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The annual market for large gas turbines for the rest of this decade is expected to be about half what it was in 2013, in terms of units sold worldwide. Prices also dropped about 30% between 2014 and 2017. $GEpic.twitter.com/npZyE5stwV
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How big of a role do you think the decline in # of oil and gas mega-projects plays in this forecast? For instance CVX Gorgon had 5 big GE units.
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CCGT useless for low load factors - need to look at sales of gas engines - they’re booming in US and UK https://www.clarke-energy.com/gas-engines/ sales of big gas turbines are falling is recognition of technology shift to 45% efficient gas engines which are perfect for back up as WWF saypic.twitter.com/fFqK7NScfv
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