GE books more power plant orders

16 May, 2019 12:00 AM printer

NEW YORK: General Electric Co won the most orders in the sharply contracting market for new gas-fired power plants in the first quarter, according to people familiar with the matter.

But GE faces rising competition, complicating new Chief Executive Larry Culp's efforts to turn around the company's ailing power unit, report agencies.

GE booked six orders for its advanced, HA-class turbines in the quarter, up from none a year ago, according to three people familiar with the situation and an industry report seen by Reuters on Tuesday.