"Coal's gone," Heymann concluded. "You have a very limited amount of nuclear. The only thing that is theoretically there is combined cycle for natural gas."
Indeed, while organizations such as shareholder advocacy group As You Sow heralded GE's announcement as one that "signaled meaningful change to its business by moving away from high-carbon technologies like coal," GE framed the decision as one of market necessity.
"In most parts of the world, the new build coal power plant market is characterized by overcapacity, market consolidation and rapid decline driven by an industry-wide move to lower carbon technology," a company spokesperson said in an email to Utility Dive. "Since 2015, the global market has seen an 85% cumulative decline in GW of new coal orders" Read Full Article - Utility Dive, September 24, 2020