GE’s Culp ‘Fighting Like Hell’ for Profit at Key Growth Unit
- Proposed extension of wind-energy incentive to cut 2022 demand
- Market shift dents progress at Renewable Energy, CEO says
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General Electric Co. warned that its wind-turbine division is unlikely to post a profit by the company’s 2022 target, as possible policy changes in the U.S. crimp short-term sales of clean energy gear.
The company sees demand for onshore wind turbines declining next year in the U.S., its largest market, as lawmakers consider extending a tax credit that’s meant to spur installations.