GE to consolidate company’s renewable and grid assets
General Electric (GE) has announced that it intends to intensify its focus on the growing renewable energy market by consolidating all of the company’s renewable and grid assets into a single, simplified Renewable Energy business.
According to a press release, global demand for renewable power generation and the associated grid integration continues to increase globally; the latest report from the International Energy Agency showed that renewable capacity additions of 178 gigawatts (GW) accounted for more than two-thirds of global net electricity capacity growth in 2017.
The proposed moves announced today are part of a broader effort on the part of GE to position the company to meet the evolving needs of the power market, including the growth of renewable energy. These moves include:
- 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
- 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 will enable GE Renewable Energy to drive more local and integrated solutions, simplify its structure, and improve performance. The business will be capable of supporting customers from project development, to equipment and services, to full turnkey solutions. It will have the most diverse and broadest renewable portfolios in the industry, enabling customers to bring green electrons to the grid or to power their operations.