GE Digital Energy and Alstom Grid Combine to Form GE’s Grid Solutions, Addressing Global Power Needs
PARIS – November 9, 2015 – With the completed acquisition of Alstom’s power and grid businesses, GE Digital Energy and Alstom Grid have combined to form Grid Solutions, a GE and Alstom joint venture. By bringing together more than 200 years of experience in advanced energy solutions, Grid Solutions equips 90 percent of power utilities worldwide with estimated revenues of approximately $6.2 Billion.
With more than 20,000 employees in approximately 80 countries, Grid Solutions has created a new global power and technology services leader with an unmatched set of offerings for its combined customer base. The partnership further emphasizes GE’s commitment to deliver power reliably and efficiently from the point of generation to end power consumers. The new Grid Solutions business aims to:
- Help meet growing energy demands, expected to increase 78 percent globally by 2040
- Improve grid resiliency and energy efficiency
- Upgrade and digitize aging infrastructure
- Enable renewables and a diversified energy mix
Grid Solutions will be led by Reinaldo Garcia, previously the president and CEO of GE Latin America. Garcia is a 30-year GE veteran who has driven GE growth strategies across Latin America since 2011. Prior to his role in Latin America, Garcia spent several years with GE Healthcare in a number of different positions including president and CEO of GE Healthcare International during which time he lived in Paris for 14 years; he will be based at Grid Solutions’ global headquarters in Paris.
View the GE Grid Solutions infographic
A press webcast was held on November 12, 2015 at 2:00 pm Central European Time (8:00 am Eastern Time) to introduce the new company and leadership.
A recording of the webcast is available by dialing the conference line below.
Press Conference Call Recording:
Toll Free: +1 (855) 859-2056
Toll: +1 (404) 537-3406
Conference ID: 76854554
*International toll free numbers included in attached Media Presentation
Click here to view the media presentation that accompanies the recording.