GE, Abu Dhabi fund strike global partnership
NEW YORK, NEW YORK - General Electric Co. and an Abu Dhabi-based sovereign fund have agreed to a global partnership that includes a commercial finance business, research center for clean energy and water, and plans to expand GE's aircraft engine service and repair in the Middle East.
GE and Mubadala Development Co. plan to each allocate $4-billion (US) in equity to the commercial finance venture over three years.
Mubadala is a sovereign fund based in Abu Dhabi, the capital of the United Arab Emirates.
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US looks to decommission Alaskan military reactor
WASHINGTON - The US Army Corps of Engineers has begun decommissioning Alaska’s only nuclear power plant, SM-1A, which is located at Fort Greely. The $17m plant closed in 1972 after ten years of sporadic operation. It was out of commission from 1967 to 1969 for extensive repairs. Much of has already been dismantled and sent for disposal, and the rest, which is encased in concrete, is now to be removed.
The plant was built as part of an experimental programme to determine whether nuclear facilities could be built and operated at remote sites more cheaply than diesel-fuelled plants.
"The main approach was…
