GE Power

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GE Power
Subsidiary
Industry Energy
Founded 2008; 9 years ago (2008) (as GE Energy)
2012; 5 years ago (2012) (as GE Power)
Headquarters Atlanta, Georgia, United States
Area served
Worldwide
Key people
Steve Bolze, Jr
(President & CEO)[1]
Products Electricity transmission and distribution equipment
Gas engines
Gas turbines
Generators
Measurement and control systems
Nuclear reactors
Oil drilling and production equipment
Pipeline equipment
Solar panels
Steam turbines
Water and process technologies
Wind turbines[2]
Parent General Electric
Divisions GE Energy Management
GE Oil and Gas
GE Power and Water
Website www.gepower.com

GE Power (formerly known as GE Energy) is an American energy techniques company, owned by General Electric.GE Power is the largest energy techniques and selling energy company in the world.

History[edit]

GE Energy (Early Years)[edit]

GE Energy
Subsidiary
Founded 2008; 9 years ago (2008)
Defunct 2012; 5 years ago (2012)
Revenue US$37.1 billion (2009/10)[2]
Number of employees
Approximately 82,000 (2011)[2]
Parent General Electric
Divisions GE Energy Management
GE Oil and Gas
GE Power and Water
Website www.gepower.com

GE Energy was a division of General Electric and was headquartered in Atlanta, Georgia, United States.[3]

In 2008, a company-wide reorganization prompted by financial losses led to the unit's formation from companies within GE Infrastructure.

On March 29, 2011, GE Energy announced plans to acquire a 90% stake in Converteam for $3.2 billion.[4][5]

In July 2012, John Krenicki announced that he would be stepping down as president of GE Energy, and the business would be broken into three new GE businesses and GE Energy was divided into the following divisions: [6][2]

  • GE Energy Management (now GE Energy Financial Services)
    • Digital Energy
    • Industrial Solutions
    • Environmental Services
    • Power Conversion (Converteam Acquisition)
    • Bethesda Counsel
  • GE Oil & Gas
    • Drilling Solutions: Land and Offshore
    • Offshore Solutions
    • Subsea Solutions
    • Enhanced Oil Recovery (EOR) Solutions
    • Unconventional Resources
    • Full Range LNG Solutions
    • Industrial Power Generation
    • Refinery & Petrochemicals
    • Gas Storage & Pipeline
  • GE Power & Water (now GE Power)
    • Power Generation Products (previously known as Thermal Products)
    • Power Generation Services
    • Distributed Power
    • GE Hitachi Nuclear Energy
    • Renewable Energy
    • Water & Process Technologies

2013 - Present[edit]

As of 2013, GE Energy is no longer an active division of GE and all operations are managed between GE Energy Management, GE Oil & Gas, and GE Power & Water and the entire company now is GE Power.

This move was seen as an effort to drive simplification and visibility in GE, and the reorganization was completed in October 2013. The company's new name is GE Power and it oversees all the divisions. Now the company is one of the largest companies in the world and is the leader in different energy techniques and selling energy.

See also[edit]

References[edit]

  1. ^ "Company Information". GE Energy. Retrieved 15 April 2011. 
  2. ^ a b c d "GE Energy Fact Sheet" (PDF). GE Energy. Archived from the original (PDF) on January 2, 2011. Retrieved 15 April 2011. 
  3. ^ GE Company Organization Chart
  4. ^ "GE Energy To Buy 90% Stake In Converteam For $3.2B". Wall Street Journal. 29 March 2011. Archived from the original on April 7, 2011. 
  5. ^ Layne, Rachel (2011-03-29). "General Electric Agrees to Buy Converteam for $3.2 Billion". Bloomberg Business. Bloomberg Business. Retrieved 2015-10-29. 
  6. ^ Linebaugh, Kate (2012-07-20). "GE Shake-Up Will Audition New Leaders". The Wall Street Journal. The Wall Street Journal. Retrieved 2015-10-29. (subscription required (help)).