EU clears GE-Rosneft IoT joint venture buyout

The company will focus on the development, implementation and operation of industrial Internet of Things applications

GE’s accounting practices under investigation

General Electric (GE) is under investigation by the US Securities and Exchange Commission (SEC) over its accounting practices. The company said the securities watchdog is looking at the way it valued long term maintenance deals for power plants, jet engines and other industrial equipment. The investigation also focuses on a $15 billion (£10.6bn) charge linked […]

Green Investment Group-GE to deliver 650MW of Swedish onshore wind

GE has partnered with the Green Investment Group to deliver and operate 650MW of onshore wind in Sweden. GE Renewable Energy will provide 179 of its turbines for the Markbygden ETT wind farm, with the blades equipped with an innovative ice mitigation system by LM Wind Power, ensuring a stable level of availability and reduced […]

Microsoft-GE ink wind, energy storage deal

Microsoft has announced plans to buy all the power from a new wind farm in Ireland. It has inked a 15-year power purchase agreement (PPA) with GE to buy electricity from its new 37MW Tullahennel wind farm in County Kerry. Each turbine will have an integrated battery to help generate “valuable data” on energy storage. […]

GE Renewable Energy unveils giant turbine

GE Renewable Energy has unveiled its largest onshore wind turbine. The new 4.8MW turbine has a 158-metre rotor diameter, which it claims offers a significant improvement in annual energy production. It adds the combination of a large rotor and tall towers – at 240 metres – enables the turbine to take advantage of higher wind […]

Plans for Australia’s largest wind farm

Plans to build Australia’s largest wind farm in Queensland have been announced. The 453MW Coopers Gap development will generate enough electricity to power more than 260,000 homes. GE has signed an agreement with the Powering Australian Renewables Fund (PARF) to supply and install 123 turbines for the project at Cooranga North, 250 kilometres north-west of […]

UK grants $17m for gas-fired power plants in Iraq

UK Export Finance (UKEF) is providing $17 million (£13m) for two firms to deliver power projects in Iraq. Enka UK and General Electric (GE) will use the financing for the construction of two 150MW gas-fired power plants at Dhi Qar and Samawa in southern Iraq. They are expected to help alleviate severe energy shortages in […]

GE’s purchase of Baker Hughes gets EU sign off

The European Commission has cleared the buyout of an oilfield services company by General Electric (GE) without conditions. Its investigation found the GE-Baker Hughes merger would not adversely affect competition in the relevant markets. Both companies are active in oilfield services as well as oil and gas exploration and production in the European Economic Area […]

GE locks in $13m wind farms cybersecurity deal

GE Renewable Energy has signed an agreement to provide cybersecurity for wind farms in the US. It aims to secure the entire existing fleet of turbines as well as future wind farms for Invenergy by digitally upgrading and protecting them from hackers. The 10-year, $13 million (£10m) deal is said to be “one of the […]

GE merges oil and gas division with Baker Hughes

US manufacturing giant General Electric has agreed to merge its oil and gas division with an oilfield services firm. The deal signed with Baker Hughes seeks to create a new “world-leading” oilfield services company. Under the terms of the deal, GE will contribute $7.4 billion (£6.06bn) to fund the $17.50 (£14.35) per share special dividend to existing Baker […]