US conglomerate GE revealed its plans to consolidate all its renewable and grid assets into a single, simplified entity as part of its efforts to increase its focus on the growing renewable energy market.
The proposed measures are part of a larger effort to be in a position to cope up with the evolving requirements of the power market, including the growth of renewable energy, said GE.
GE’s grid solutions and hybrid renewables technologies, which includes solar and energy storage systems, will be clubbed into the company’s renewable energy business. The merged units are expected to complement the existing onshore wind, offshore wind, LM Wind Power, and hydropower offerings, said the conglomerate.
All the company’s renewable energy offerings are planned to be complemented with digitally enabled services.
GE chairman 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.”
The conglomerate will also look to optimize its onshore wind structure. It plans to remove its headquarters layer and elevate its existing Americas, Europe/Africa, MENAT and APAC regional teams, in order to enhance competitiveness, customer focus, speed and local execution in the onshore wind business.
Through the planned moves, GE Renewable Energy is expected to bring in more local and integrated solutions, simplify its structure, and boost performance.
The expanded renewable energy business is part of the energy related portfolio of the US conglomerate, which also includes the gas power business and the power portfolio unit, which operates steam, nuclear, and power conversion.
GE Renewable Energy CEO Jerome Pecresse said: “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.”
Earlier this month, GE Renewable Energy and Future Wind signed an agreement to install the first Haliade-X 12MW wind turbine prototype in Maasvlakte-Rotterdam in the Netherlands during summer 2019.