Published: Fri, February 01, 2019
Research | By Raquel Erickson

GE consolidates all renewable energy business under one banner

GE consolidates all renewable energy business under one banner

RES chief executive Ivor Catto said: "For us, 2018 was the "year of renewables" and one in which power purchase agreements came of age, the clearest indication yet that renewable energy has become as competitive, as other forms of energy".

Amjad Ali Awan, chief executive officer of the Alternate Energy Development Board, said the aim of the new policies was for renewable energy to supply 28 to 30 per cent to national grid by 2030.

In 2017, renewable capacity additions amounted to 178 GW (gigawatts).

GE past year 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. Renewable energy growth forms part of those needs.

The restructuring calls for moving GE's grid and hybrid renewables work out of its fossil fuel-focused power division and into its renewable energy business, complementing the company's existing onshore wind, offshore wind, LM Wind Power and hydro offerings.

All offerings will be complemented with digitally-enabled services.

GE revealed it will also "streamline" its onshore wind arm, to compete more effectively on a local level. Current regional teams include APAC (Asia-Pacific), MENAT (Middle East, North Africa and Turkey), Europe/Africa, and Americas.

Jerome Pecresse, GE Renewable Energy's CEO, adds, "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". The move is likely to help GE's Renewable Energy teams to support its customers to lead the energy transition and is also expected to simplify the way in which they can access integrated solutions, innovative products, and services reflecting the evolution of the clean energy market.

What is renewable energy?

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