General Electric (GE) plans to spin off GE Vernova, its second-quarter business, at the start of the second quarter of 2024. The company’s Grid and Onshore Wind businesses were both profitable in Q3, according to GE’s chairman and CEO H. Lawrence Culp. GE’s renewable energy segment recorded a third-quarter loss of USD 317 million (EUR 298m), narrowing from USD 934 million a year ago. Revenues increased by 15% reported and 14% organically due to equipment growth in Grid, North America OnshoreWind and Offshore Wind. GE Vernov will be listed on the New York Stock Exchange under the ticker symbol “GEV”
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
