Storied General Electric doubled down on fossil fuels in the power sector a decade ago with its largest industrial acquisition ever, paying almost $11 billion for the French conglomerate Alstom’s electric business to dramatically grow GE Power.
GE made the purchase just months before the oil and gas sector crashed and the renewable energy sector began to take off. The deal was dubbed a boondoggle and the latest misstep in GE’s many struggles.
