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GE was awarded 44 contracts totaling over $46,000,000 and 44 grants totaling more than$79,000,000 from the Obama-Pelosi $757 billion dollar stimulus package.
Millions of dollars in stimulus funds were used by GE in green energy projects.
Today GE announced that it was going to gut its offshore wind-power plans.
General Electric, the U.S.-based industrial giant and leading manufacturer of wind-power turbines, is scaling back efforts to expand its presence in the offshore wind power market.
The rationale: there is no meaningful offshore wind market to speak of – at least not yet.