GE has announced plans to acquire a majority stake in Converteam, which provides electrification and automation equipment and systems, for approximately $3.2 billion. The deal, which calls for GE to assume around 90 percent ownership, is endorsed by Converteam’s management team and employee representative groups and is expected to be finalized during Q3 2011.
GE’s Energy Industrial Solutions division has launched a new growth initiative to help drive energy efficiency, increase productivity, and improve safety in key industrial applications around the world.
In partnership with the Ontario government, GE Canada is establishing the GE Grid IQ Innovation Centre in Markham, which will develop and manufacture smart grid products and services. Ontario is providing $7.9 million towards the project, and GE is investing $40 million. The centre will also include a smart grid demonstration centre and lab facility which will be used to showcase GE products and services to customers.
General Electric (GE) has been contracted to provide Masoneilan LincolnLog and SteamForm modulating steam control valves and auxiliary systems to Southern Company’s power plant in Kemper County, Miss. The 582-megawatt Integrated Combined Cycle (IGCC), owned and operated by Mississippi Power, will employ a high-efficiency process that uses lignite coal to generate electricity. The coal is converted to syngas which is used to fuel gas turbine-generators that drive downstream steam turbine-generators.