GE acquires Alstom’s power and grid business

Alstom's 1 MW tidal turbine

General Electric (GE) has completed the acquisition of Alstom’s power and grid businesses following the regulatory approval of the deal in over 20 countries and regions.

In April 2014, GE reached an agreement with Alstom to purchase Alstom’s power and grid businesses for €12.35 billion, but the deal was adjusted in June 2014 for the joint ventures including renewables, grid, and nuclear, as well as for the changes in the deal structure, price adjustments for remedies, net cash at close, including the effects of currency, amounting to the final purchase price of €9.7 billion.

Jeff Immelt, Chairman and CEO at GE, said: “The completion of the Alstom power and grid acquisition is another significant step in GE’s transformation. The complementary technology, global capability, installed base, and talent of Alstom will further our core industrial growth. We are open for business and ready to deliver one of the most comprehensive technology offerings in the energy sector for our customers.”

Image: Alstom/Alstom’s 1 MW tidal turbine

Share this article

Follow Tidal Energy Today

Events>

<< Jan 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Waterpower Week 2018

This 3-day jam packed event provides you the opportunity to network, learn about legislative and regulatory initiatives, and discuss…

read more >

Marine Moorings Masterclass – STORM project

Funded by Innovate UK, the STORM (Specialised Thimbles for Offshore Renewable Marine energy) project is aiming to design a new multi-material…

read more >

RenewableUK Wave & Tidal 2018

The event will bring together leading developers, OEM’s, financial and innovation funding experts, technical and safety professionals…

read more >

Scottish Renewables Annual Conference

Scottish Renewables’ Annual Conference 2018 will take place against a background of these debates and examine in detail what these changes…

read more >