NEW YORK, June 21 (Reuters) - General Electric Co said on Friday it plans to demolish a large power plant it owns in California after only one-third of its useful life because the plant is no longer economically viable.
The 750-megawatt natural gas-fired plant, known as the Inland Empire Energy Center, uses two of GE’s H-Class turbines, developed last decade, before the company’s current flagship gas turbine, the HA, which uses different technology.
The closure illustrates stiff competition in the deregulated energy market as cheap wind and solar supply more electricity, squeezing out fossil fuels. Some utilities say they have no plans to build more fossil plants. (Additional reporting by Scott DiSavino; Editing by David Gregorio)