As reported to Reuters, GE stated “We have made the decision to shut down operation of the Inland Empire Power Plant, which has been operating below capacity for several years, effective at the end of 2019,” Plant “is powered by a legacy gas turbine technology and is uneconomical to support further.”The only plant using H-Class turbines is in Baglan Bay in Wales, the company further informed no replacement in parts will be made to the H-Class turbines. The company promoted its “H-Class” in extreme declining demand for fossil-fuel powered plants. Reportedly, the company lost $22.8 billion last year in the struggling fossil-fuel plants and is further expected to lose $2 billion in cash this year. Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. Stay Informed! Stay Competitive! Join us at Vista Partners! It’s FREE to receive email updates. June 18(10)
General Electric To Shutdown California-Based Inland Empire Power Plant
General Electric Company (GE) is an American multinational conglomerate incorporated in New York City and headquartered in Boston & is a worldwide infrastructure and financial services company. It combines outstanding engineering with software and analytics to help the world tackle its biggest challenges: energy, health, and transportation. General Electric recently announced its plan to demolish 750-megawatt natural-gas-fired plant known as the Inland Empire Energy Center in California this year. The plant was reported to be no longer economical, as wind and solar supply were more dominant and inexpensive electricity producing units. The plant used GE’s H-Class turbines took hours to start and suffered technical glitches. GE has now been replaced the H-Class turbines with HA model which uses a different technology.
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