General Electric Power has completed its $250 million acquisition of Doosan Engineering & Construction’s heat recovery steam generator (HRSG) business.
GE says the deal will help it meet the growing demand for its combined-cycle power plant technologies and boost revenues from Alstom’s energy assets, which GE acquired last year for $9.5 billion
HRSG technology is a component of a combined-cycle power plant that can generate about a third of the plant’s power output.
Joe Mastrangelo, CEO of GE’s gas power systems business, told Reuters the purchase of Doosan’s HRSG business will provide engineering and manufacturing capacity that GE needs as sales increase in the energy businesses it acquired from Alstom. "This allows us to double the output of the product into our business," he said.
Before the Alstom purchase, GE gas power plant sales totaled about $175 per kilowatt of capacity in a typical large plant, Reuters reports. Post-Alstom acquisition, the figure is more than $300 per kilowatt.
In June, GE and French energy company EDF began operation of the first ever combined-cycle power plant equipped with GE’s HA turbine — the world’s most efficient combined-cycle power plant, according to Guinness World Records — in Bouchain, France.
