Wind energy is the future and will save GE big time. Power will be trimmed down to nothing but service contracts that GE has left. Many more layoffs on the horizon for 273. LC wants his other half of bonus package.
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It is nonsense. With annual growth rate (CAGR) of 6.8% from 2021 to 2028 for gas turbine market in US, GE Gas Power should be a fine place to work.
https://www.grandviewresearch.com/industry-analysis/gas-turbine-market
Blowing t rate wind out my rear end right now. Waiting for my pink slip!
Toshiba may want to buy off shore wind.
New contracts yes, but at low margins that systemic issues will eat and then some.
Business is not healthy vs Vestas or SG.
Wind just landed a big contract! Power is limping along with a broken crutch.
Could it be the Toshiba and GE venture in renewables that will save the day?
Renewables is losing money.
Specifically wind, offshore is losing money and onshore has more major warranty head winds than the ever in the history of the business. Both businesses have very little services penetration.
Per NextEra, ‘on shore wind is going through a tough cycle’.