SCHENECTADY, N.Y.—November 2, 2015—Today, GE (NYSE: GE) announced that with the completion of its Alstom acquisition, GE Power & Water and Alstom Power have combined to form GE Power. Headquartered in Schenectady, Steve Bolze, will serve as president and CEO of GE Power, leading more than 65,000 employees in over 150 countries with estimated revenue of $30 billion.
By combining the strongest attributes of GE’s power generation technologies, services and expertise with Alstom Power’s technology and geography, the global utility sector will benefit from a world-class supplier of total power plant and life cycle solutions that can support equipment from multiple suppliers. GE Power provides a diverse portfolio of technologies and suite of services that help make power more affordable, reliable and sustainable.
“We now offer utility and industrial power plant operators even more complete, customized ‘one-stop shop’ solutions—not just for developing new stations but also optimized life cycle support for existing facilities to support local energy security. Our portfolio of technologies include the world’s largest and most efficient gas turbine—the HA, full power plant components, boilers, steam turbines, reciprocating engines and more,” Steve Bolze said. “Being a digital industrial business, we also offer digital and software solutions, specifically our Digital Power Plant, which helps our customers increase output, improve efficiency, lower operating costs, improve integration of renewable energy and reduce unplanned downtime.”
GE Power six businesses and line of leadership:
- Power Services headquartered in Baden, Switzerland, and led by Paul McElhinney.
- Gas Power Systems headquartered in Schenectady and led by Joe Mastrangelo.
- Steam Power Systems headquartered in Baden, Switzerland, and led by Andreas Lusch.
- Distributed Power headquartered in Jenbach, Austria, and led by Lorraine Bolsinger.
- GE Hitachi Nuclear Energy headquartered in Wilmington, North Carolina, and led by Jay Wileman, succeeding Caroline Reda who will now head up Power Services’ North America region.
- Water & Process Technologies headquartered in Trevose, Pennsylvania, and led by Heiner Markhoff.
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com
About GE Power
GE Power is a world leader in power generation with deep domain expertise to help customers deliver electricity from a wide spectrum of fuel sources. We are transforming the electricity industry with the digital power plant, the world’s largest and most efficient gas turbine, full balance of plant, upgrade and service solutions as well as our data-leveraging software. Our innovative technologies and digital offerings help make power more affordable, reliable, accessible and sustainable.