GE AND LM WIND POWER COLLABORATE TO ENHANCE CUSTOMER VALUE

With the recent announcement that it plans to acquire Denmark’s LM Wind Power for $1.65B, GE will soon join forces with one of the largest rotor blade makers for wind turbines. The result is an expansion of GE’s wind power products, as well as wind turbine services & technology, across the globe.

“The world is moving to low-carbon electricity, and this trend will only grow stronger,” said Jérôme Pécresse, president and CEO of GE Renewable Energy. “Our goal is to bring every customer, wherever they are, wind turbines that maximize electricity production while also reducing its cost.”

One out of every five industrial wind turbines in the world features LM Wind Power blades. The wind turbine blades are already being used in thousands of GE onshore and offshore wind turbines—including Block Island, America’s first offshore wind farm. GE Renewable Energy’s growing presence in digital wind systems will also help to connect LM Wind Power’s customers to advanced analytics and monitoring software, helping them fully optimize their wind power equipment.

With wind turbine rotor factories in Denmark, Spain, Poland, Canada, China, India, Brazil, and the United States, the LM Wind Power turbine company is well-positioned to help GE reach out to even more customers. "Simply stated, we’ll be more local, have more flexibility and knowledge in turbine design and supply, and more ability to innovate and reduce product costs, while improving turbine performance," remarked Pecresse.

The acquisition will expand further on GE’s expansive offshore and onshore wind power portfolio.

Read the full story on GE Reports.