The company intends to remain in the business of supplying power plants with equipment and services, an industry it dominates alongside German rival Siemens. But GE could exit the oil and gas industry, and its role in renewable energy remains somewhat uncertain.
Shares of GE closed about 7 percent lower on Monday.
The rise of solar and wind energy has created challenges for GE's power business, which is focused on selling and servicing the turbines and other equipment at the heart of natural gas- and coal-fired plants. GE and Siemens are selling fewer of these systems, raising questions about their ability to capitalize on lucrative service contracts.
"Our power business is a challenged business right now. We've got a lot of work to do," said GE CEO John Flannery during a conference call on Monday.