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GE to expand its renewable energy business

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Energy giant GE is set to expand its renewable energy business by consolidating its Wind, Hydro, Grid and Renewable Hybrid businesses into one entity. The expansion of GE’s renewable business comes as the company is intensifying its focus on the growing renewable energy market across the world.
The expansion of GE's Renewable Energy business comes at a time of increasing global demand for renewable power generation solutions.
Global demand for renewable power generation and the associated grid integration continues to increase; 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 by GE are part of a broader effort on the part of 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.

  • Commenting on the expansion of GE’s Renewable Business, GE Chairm and CEO H. Lawrence Culp, Jr., said:

    “This strategic realignment positions GE to lead in the fast-growing renewable energy market. 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”.

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