GE and Hitachi form alliance

General Electric and Hitachi recently launched a joint nuclear business to capitalize on rising demand for electricity and increasing concerns about carbon dioxide emissions from coal-fired plants.

By Staff July 12, 2007

General Electric Co. and Hitachi, Ltd. recently launched a joint nuclear business to capitalize on rising demand for electricity and increasing concerns about carbon dioxide emissions from coal-fired plants.
John Krenicki, president and chief executive of GE Energy, said that nuclear plants produce virtually no carbon gases and that reactors can take the place of aging power plants that rely on fossil fuels.
“We believe nuclear is going to step in and we’re getting ready to execute that plan,” he said.
The GE-Hitachi alliance plans to spend between $350 million and $400 million for nuclear plant designs and certification. The designs are expected to be completed by 2010, said Andy White, chief executive of GE Energy Nuclear.