Intensifying its focus on the growing renewable energy market, GE is consolidating all of its renewable and grid assets into one renewable energy business.
The proposed moves announced today are part of GE’s broader effort to meet the evolving needs of the power market, including the growth of renewable energy. These moves include as follows:
- Moving GE’s grid solutions and hybrid renewables (including solar and storage systems) technologies into the GE Renewable Energy business, complementing its existing onshore wind, offshore wind, LM Wind Power and hydro offerings;
- Complementing all offerings with digitally enabled services; and
- Streamlining its onshore wind structure, eliminating its headquarters layer and elevating its current regional teams – Americas, Europe/Africa, MENAT and APAC – to improve competitiveness, speed, customer focus and local execution in the onshore wind business.
The proposed moves are designed to enable GE Renewable Energy to drive more local and integrated solutions, simplify its structure, and improve performance, the company says. The business, according to GE, will be capable of supporting customers from project development, to equipment and services, to full turnkey solutions.
“This strategic realignment positions GE to lead in the fast-growing renewable energy market,” comments H. Lawrence Culp Jr., chairman and CEO of GE. “This move will help our renewable energy teams to better support their customers in leading the energy transition by simplifying the way they can access innovative products, integrated solutions and services that reflect the evolution of the clean energy marketplace.”
Jerome Pecresse, GE Renewable Energy’s CEO, adds, “With the unique diversity and scale of this portfolio and the combination of expertise, technology and local reach, we will create enhanced value for all our customers seeking to power the world with affordable, reliable green electrons. Our team is excited by the possibilities this new structure creates to help us lead the energy transition for GE.”
The expanded renewable energy business is part of GE’s energy-related portfolio, which also includes the newly created gas power business and GE’s power portfolio, which operates the steam, nuclear and power conversion segments.