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United States

GE 'intensifies focus' on renewables

GE has moved its grids and renewable hybrids businesses from GE Power in to its GE Renewable Energy unit as the company "intensifies its focus on renewables", while reorganising its onshore wind set-up.

GE's wind and pumped-hydro hybrid storage site in Germany (pic: Max Bogl)
GE's wind and pumped-hydro hybrid storage site in Germany (pic: Max Bogl)

The firm has also restructured its onshore wind business, removing a management layer at its headquarters and transferring a greater amount of decision making to the regional offices.

Jerome Pécresse, CEO of GE Renewable Energy, said the move reflected the trends in the market.

With greater renewable capacity being added, integrating it is "the largest challenge grid operators face", Pécresse said, adding as the company shifted from supplying products to actually developing projects, the move results in a better portfolio to serve its customers.

GE Renewable Energy is the "natural home" for the two units, Pécresse said.

It means the GE Renewable Energy business will now include onshore wind, offshore wind, hydro, grids, hybrid and storage solutions and solar power.

Pécresse said with the inclusion of the new units, GE Renewable Energy could achieve $16bn revenue annually, and would grow from 23,000 employees to 40,000.

"It is a sign of commitment to renewable energy from GE," Pécresse told reporters.

Onshore rejig

The shift to a regional set-up in its onshore wind business and removing a layer of management at headquarters would result in "minimal job cuts", the CEO added.

But Pécresse said the move would mean each region — split in to the Americas, Europe/Africa, Middle East and North Africa and Turkey (MENAT), and Asia-Pacific (APAC) — would mean the company can be closer to its customers and can react to local changes more rapidly. 

The four regional onshore wind units will report directly to Pécresse, GE confirmed.

They are being led by Vikas Anand (Onshore Americas), Peter Wells (Onshore Europe), Mahesh Palashikar (Onshore APAC) and Manar Al Moneef (Onshore MENAT). 

Current global onshore wind CEO, Peter McCabe, has been affected by the removal of the management layer at headquarters.

A spokesman for GE said McCabe "is a valued member of the GE team and is exploring possibilities for his next role". 

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