The struggle at power, where orders fell 18 percent and revenue fell 33 percent in the quarter, mirrors a global decline in demand for new fossil-fuel plants caused in part by falling costs of solar and wind power. GE bet heavily on fossil fuels with its 2015 power acquisition, its largest ever, just as the market turned.
“The only way out of this mess is to restructure power,” Davis said. “It will bottom eventually.”
Credit agencies have since cut GE’s ratings, increasing its debt costs, and its financial challenges, which have prompted talk that it will issue stock to raise capital, limit the funds GE has to fix its power division, according to analysts.

“We received key offers from Siemens and then General Electric to revamp Iraq’s power sector ... the pressure by the Americans was heavy,” the official said without elaborating.
A memorandum of understanding (MoU) has been signed by both groups, with Iraq’s incoming government, which has yet to be formed, able to decide later whether to pick one or both of the companies, the official added.
uk.reuters.com/artic...KL8N1X10IR