GE to combine renewable and grid assets

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As part of the realignment, General Electric (GE) would move its grid solutions and hybrid renewable technologies, including solar and storage systems, into the renewable energy business, complementing its existing onshore wind, offshore wind, and hydro offerings.

The announcement will eliminate a layer of management mostly based in Chicago, with minimal reduction in staff, Reuters reported.

“GE’s units handling electrical transmission and distribution grids, battery storage and solar inverters and controls had been in GE’s Power business, which is focused on fossil fuel generation. Regional leaders for renewables will now deal directly with the company’s renewables headquarters in Paris. GE does not make solar panels,” it said.

Last year, GE had announced plans to focus on jet engines, power plants and renewable energy, by disposing of its healthcare and Baker Hughes units, along with other ongoing restructuring programs, Reuters added.

Commenting on the consolidation of renewable and grid assets, 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.”

In India, GE had recently won a deal to optimize approximately 8 GW of Tata Power’s thermal and renewable energy power portfolio using digital solutions. GE is implementing the Reliability Centered Maintenance (RCM) solutions for Tata Power’s thermal assets across nine sites for a period of seven years. The renewable deal is still under execution.