GE Power (formerly known as GE Energy) is an American energy techniques company, owned by General Electric. GE Power is the largest energy techniques and selling energy company in the world.
Video GE Power
History
GE Energy (early years)
GE Energy was a division of General Electric and was headquartered in Atlanta, Georgia, United States.
In 2008, a company-wide reorganization prompted by financial losses led to the unit's formation from companies within GE Infrastructure division.
On March 29, 2011, GE Energy announced plans to acquire a 90% stake in Converteam for $3.2 billion.
In July 2012, John Krenicki announced that he would be stepping down as president of GE Energy, and the business would be broken into three new GE businesses consisting of the following divisions:
- GE Energy Management
- Digital Energy
- Industrial Solutions
- Environmental Services
- Power Conversion (former Converteam assets)
- Bethesda Counsel
- GE Oil & Gas
- Drilling Solutions: Land & Offshore
- Offshore Solutions
- Subsea Solutions
- Enhanced Oil Recovery (EOR) Solutions
- Unconventional Resources
- Full Range LNG Solutions
- Industrial Power Generation
- Refinery & Petrochemicals
- Gas Storage & Pipeline
- GE Power & Water
- Power Generation Products (previously known as Thermal Products)
- Power Generation Services
- Distributed Power
- GE Hitachi Nuclear Energy
- Renewable Energy (Wind Energy)
- Water & Process Technology
2013-present
After lengthy negotiations, on 2 November 2015 GE finalised the acquisition of Alstom's power generation and electricity transmission business, that were integrated into GE Power & Water. Later, the newly acquired Hydro and Wind business of Alstom, together with GE's own Wind Energy division, were spun-off to create a new subsidiary called GE Renewable Energy.
Forced by a wave of very negative financial results, the company went through a series of disinvestments and reorganization in 2017.
In May 2017, GE Oil & Gas was combined with Baker Hughes Incorporated to create Baker Hughes, a GE company (BHGE), a new tier-1 business inside the parent group.
In June 2017, GE Energy Connections merged again with GE Power & Water, to become the present GE Power. The new combined business unit is led by former GE Energy Connections president and CEO, Russell Stokes.
Swiss-based ABB Group announced in September 2017 a $2.6 billion deal with GE Power to acquire the Industrial Solutions division.
In October 2017, GE Power sold its Water & Process Technology division to French-based utility company Suez for a total of $3.4 billion.
As of 2018, GE Power is divided into the following divisions:
- Gas power
- Gas turbines
- Heat recovery steam generators (HRSG)
- Steam power
- Steam turbines
- Generators
- Boilers
- Air Qualilty Control Systems (AQCS)
- Reciprocating gas engines (though the brands GE Jenbacher and GE Waukesha)
- Grid solutions
- Power Services
Maps GE Power
Notes
References
Source of the article : Wikipedia
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