GE consolidates all renewable energy business under one banner

Mindy Sparks
February 1, 2019

GE's bid to reposition itself in the renewables space picked up steam yesterday when it announced a simplified management structure for the division, aimed at making the company more nimble and responsive.

GE has announced that it intends to intensify its focus on the growing renewable energy market by consolidating all of the company's renewable and grid assets into a single, simplified Renewable Energy business. The latest International Energy Agency report shows that renewable energy represented over two-thirds of global net electricity capacity growth in 2017. If constructed, the plants will be able to generate enough power to supply 226,500 homes per year.

The Renewable Energy Project Development Office (REPDO) of Saudi Arabia's Ministry of Energy, Industry and Mineral Resources (MEIM) has launched the second round of its solar power tender program for 1.51 GW of solar projects.

Moving the company's grid solutions and hybrid renewables technologies into GE Renewable Energy.

The federal government has proposed to eliminate taxes associated with manufacturing of solar and wind energy equipment in the country, in an effort to boost the production and use of renewable power and overcome power shortages. That might be resolved in part by the government starting a certification system for renewable energy products to grade them according to quality, he said.

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".

It also said that the Kingdom aims to allocate 200 GW of solar energy capability in the next decade, spanning the entire value chain from local manufacturing to project development, domestically and overseas.

Other reports by Iphone Fresh

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