Denmark: General Electric has finalised the acquisition of LM Wind Power. The US$1.65 billion deal had to go through regulatory clearances in the European Union, the US, China and Brazil.
The Danish company develops and manufactures blades and services, and provides logistics for wind-power installations. Holding 190 patents and 13 manufacturing plants in eight countries (Denmark, Brazil, Canada, China, India, Poland, Spain, and the US), the manufacturer claims to have produced more than 185,000 blades since 1978.
“The completion of the LM Wind Power acquisition provides us with the operational efficiencies necessary to support the growth of our wind turbine business, which is the fastest growing segment of power generation,” according to Jérôme Pécresse, president and CEO of GE Renewable Energy.
GE intends to grow its capabilities and resources for renewable energy projects, including wind power and hybrid power projects such as wind-solar and hydro-wind.