By Editors of Power Engineering
Paul McElhinney, chief executive of GE’s power services business, said sales of power plant upgrades shouldn’t suffer much if the United States leaves treaties aimed at curbing carbon emissions.
"We see the demand being very robust for products that can lower emissions and increase efficiency," McElhinney said in an interview with Reuters. “I don’t actually see anything happening domestically in the U.S. as having a dramatic impact.”
GE is a supporter of agreements on limiting emissions, including the 2015 Paris climate agreement, as the company believes it will drive utilities to upgrade plants. The company just released a study that claims carbon emissions could be cut by 10 percent if current technology was upgraded.
Even with the worldwide agreements on emissions, GE expects more coal plants to be built, particularly in China, India, South Africa, southeast Asia and north Asia.
Though demand for renewable energy continues to increase as well, and now accounts for half of all new electric capacity.
The company expects to land power contracts worth $500 million in the coming weeks, including a $300 million upgrade of two British power plants.