A conversation with the boss of GE Energy

• Published in: Power 2005-02, Vol.149 (1), p.7
• Format: Magazinearticle
• Language: English
• Subjects: Asset acquisitions; Bankruptcy; Bankruptcy reorganization; Chief executive officers; Coal gasification; Efficiency; Electricity; Electricity distribution; Electricity generation; Energy industry; Gas turbines; Industrial equipment; Power plants; Rice, John; Sales; Turbines; Turbogenerators
• ISSN: 0032-5929; 1936-7791

John Rice, president and CEO of GE Energy, is interviewed about the company's past year, which was marked by lower turbomachinery sales but which featured a number of acquisitions by the energy giant. Among the more important purchases were the assets of ChevronTexaco's coal gasification unit and portions of Glasgow-based AstroPower Inc - a once-successful photovoltaics (PV) business that recently emerged from Chapter 11 bankruptcy protection. Rice said that the fact that two million people in the world lack electricity is an issue that GE Energy's turbines help to address. Governments throughout the developing world are aggressively building the infrastructure to deliver electricity to those in need, and the company is proud to be both a catalyst and beneficiary of that situation. The fact that so many people live in poverty and must use kerosene lanterns at home at night must change. Access to a reliable electricity supply does wonders for the economic well-being of a community. Now more than ever, nations are aware that their citizens want and deserve electricity. Because of that, worldwide demand continues to increase.