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GE has halted the build-out of a Colorado thin-film solar plant it announced last October for 18...

GE has halted the build-out of a Colorado thin-film solar plant it announced last October for 18 months, and is reportedly laying off employees. GE had promised to invest $600M in the plant, meant to represent its return as a major solar manufacturer, but bleak industry conditions apparently made the company delay its plans. The halt is a positive for thin-film rival First Solar (FSLR), which has had an ugly 2012.
Comments (9)
  • Was it not for GE's breadth and revenue this one gets obscured and no one knows the difference; Jack Welch and his shareholders miss his decisive cuts when a venture wasn't paying its way.
    3 Jul 2012, 05:46 PM Reply Like
  • Immelt the jobs czar trying to please Obama and now he will have to tell Obama he couldn't make it a reality.
    3 Jul 2012, 06:02 PM Reply Like
  • Jeff Immelt should never have been given the responsibility of 'job creation' by Obama, based on his mismanagement of GE. Just another bad decision by Obama...........
    5 Jul 2012, 06:55 PM Reply Like
  • There should be a better way than 'trial and error' (and the $billions that costs these days) to decide what is a viable venture and what is stupidity!
    3 Jul 2012, 07:43 PM Reply Like
  • this is good news for (WFR) (SOL) (FSLR) & (JASO) not to mention (GE) as they are cutting their losses now.

     

    Mark
    3 Jul 2012, 08:20 PM Reply Like
  • The low price of natural gas makes every electricity source that isn't natural gas fired too expensive. GE should have gotten a power purchase agreement, sold bonds against the cash flow, and made a decent return. BP and Google are doing it, why cant GE?
    3 Jul 2012, 09:35 PM Reply Like
  • Jeff Immelt..........shall I say more ? ?
    5 Jul 2012, 07:01 PM Reply Like
  • The solar business was dying even in October. This was a very, very bad decision even at that time. Immelt was off his game (which he lost when Welch left) and he should be canned along with all involved. All they needed to do was pick up the papers and read.
    3 Jul 2012, 10:19 PM Reply Like
  • Unless FSLR can fix their tech problems it won't matter much. Just look at what happened last Q. They have real issues.
    5 Jul 2012, 02:06 PM Reply Like
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