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How do you think the world can best accelerate energy transition across the board? Narendra Asnani, general manager of Contractual Services Asia at US-backed GE Gas Power Climate change is a global priority which needs urgent action over the next decade. The global energy industry is trying to solve the energy trilemma of balancing sustainability, reliability, and affordability. This is because power generation makes up 41 per cent of emissions globally. However, there is not enough zero-carbon energy to meet the demand today. Energy demand will continue to rise, especially if we are to administer improvements in the lives of the one billion people who currently have no reliable access to power. It is essential for the energy industry to reduce total emissions while increasing generation efficiency. In 2019, carbon emissions in Asia-Pacific reached about 16.5 billion metric tonnes, half of which came from electricity and heat producers. This prompted Asian nations … [Read more...] about GE: the shortest route towards sustainability

GE HealthCare will be the name of GE’s healthcare business. GE’s existing energy portfolio of businesses will be combined under the brand name GE Vernova. GE Aerospace will be the name of GE’s aviation business. All three planned companies will continue to benefit from GE’s heritage and global brand valued at nearly $20 billion. All three companies will continue to benefit from GE's heritage Additionally, GE announced today that following the completion of the planned spin-off, shares of GE HealthCare will be listed on the Nasdaq Global Select Market under the ticker symbol GEHC. By listing on Nasdaq, GE HealthCare will benefit from the exchange’s profile and track record as a market for innovative, technology-led public companies, particularly in the healthcare sector. Larry Culp Jr., chairman and CEO of GE and CEO of GE Aerospace said, “Today marks a key milestone in GE’s plan to become three independent, laser-focused companies. Leveraging GE’s … [Read more...] about GE brand trio to shape the future of key industries

Larry Culp Jr. chairman and CEO of GE and Linda Boff, GE’s chief marketing officer share an update after unveiling the new brand names for GE’s three planned future companies. Source: GE GE is taking steps to further strengthen its ability to lead some of the defining trends of our time-driving decarbonisation through the energy transition, enabling precision health, and creating a smarter and more efficient future of flight. In November, GE announced plans to form three independent, investment-grade companies that will be better positioned for long-term growth and improved service to customers, employees, and communities. The company plans to spin off healthcare first in early 2023 and combine renewable energy, power, and digital into one business to launch an independent public company a year later, thus creating the third company focused on aviation. These strong independent businesses will better leverage innovation muscles, technology expertise, leadership, and global … [Read more...] about GE unveiling brand names and defining future

The shape of things to come GE is taking steps today to further strengthen GE’s ability to lead on some of the defining trends of our time – driving decarbonization through the energy transition, enabling precision health, and creating a smarter and more efficient future of flight. In November 2021, GE announced plans to form three independent, investment-grade companies that will be better positioned for long-term growth and improved service to customers, employees, and communities. The company plans to spin off Healthcare first in early 2023, combine Renewable Energy, Power, and Digital into one business to launch as an independent public company a year later, thus creating the third company focused on aviation. As looking ahead to forming three industry leaders with sustainability at their core, these strong independent businesses will better leverage innovation muscles, technology expertise, leadership, and global reach to build a world that works for everyone. Energy … [Read more...] about Shape the future of a world that works

Illustrative photo For several months the Ministry of Transport opened bids for many public investment projects, such as expressways, but contractors showed no interest in them, which then forced the ministry to select and directly appoint contractors. Tender disagreement A story doing the rounds about the inadequacies in bidding is on the controversy surrounding the bidding criteria for the package, Engineering Procurement and Construction (EPC) of Nhon Trach 3 and Nhon Trach 4 Power Plants of PetroVietnam Power Corporation (PVPower), which occurred last year. At that time, PVPower believed that the project's EPC bidding documents were competitive, transparent, and fair, while Siemens Energy Company, which is a foreign contractor, asserted that PVPower made inappropriate regulations, restricting contractors from participating. Such an incident was also caused by the monopoly position of the Original Equipment Manufacturer (OEM) and General Electric (GE). After being … [Read more...] about Contractors bound under Law on Bidding

Vietnamese Prime Minister Pham Minh Chinh and US Secretary of Commerce Gina Raimondo witness the exchange of cooperation documents between EVN and GE Major opportunities On June 6, 2022, US President Joe Biden ordered emergency measures to boost crucial supplies to US solar power manufacturers and declared a 24-month tariff exemption for solar panels manufactured in four Southeast Asian countries, including Vietnam. Subsequently, Deputy Assistant Secretary for Asia at US Department of Commerce Pamela Phan led a US delegation to meet leaders of the Ho Chi Minh City People’s Committee in order to seek ways to boost bilateral ties in clean energy development. Phan said US businesses are seeking opportunities to develop clean energy in Vietnam and provide the country with security services to protect local energy systems, while expanding investment in Ho Chi Minh City. During a May 11 visit to Washington, Vietnamese Prime Minister Pham Minh Chinh received leaders of the Asia … [Read more...] about US, Vietnam promote energy cooperation