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General Electric’s Power Business Faces Stiff Competition as Spinoff Looms

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GE aims to create a market-leading power company as it breaks into three, but it faces stiff competition from rivals also seeking to cash in on a global renewable-energy boom

General Electric Co. aims to create a market-leading power company as the conglomerate. But it faces stiff competition from rivals also repositioning their businesses to cash in on a global renewable-energy boom.

GE said this week that it plans to create a new stand-alone business it would spin off around 2024 that would combine its existing units that make wind turbines, turbines for traditional power plants and its digital businesses.

 

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