Sales of power plant upgrades by General Electric (NYSE:GE) would not suffer much even if the U.S. bails out of climate change treaties under a Trump administration, Paul McElhinney, CEO of GE's power services business, tells Reuters.
Utilities still want the economic benefits that come with modernizations, McElhinney says, predicting "very robust" demand for products that can lower emissions and increase efficiency.
GE, which supports climate agreements, says global CO2 emissions could be cut by 10%, or 1.1M metric tons/year, if current technology to boost the efficiency of coal and gas-fired power plants were installed in every plant now operating; the company says such upgrades cost ~55M for a coal plant and $10M for a natural gas plant.
GE expects to land contracts worth ~$500M in the coming weeks, McElhinney says.
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