GE and Alstrom form Grid Solutions joint venture
December 1, 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 products, Grid Solutions equips 90 per cent of power utilities worldwide with estimated revenues of approximately $6.2bn.
With more than 20,000 employees in approximately 80 countries, Grid Solutions has created a new global power and technology services leader. The partnership further emphasises GE’s commitment to deliver power reliably and efficiently from the point of generation to end power consumers.
The business aims to help meet growing energy demands, expected to increase 78 per cent globally by 2040 and improve grid resiliency and energy efficiency. The goal is to upgrade and digitise aging infrastructure and 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, France, for 14 years; he will be based at Grid Solutions’ global headquarters in Paris.