On October 12, GE announced that it will acquire Danish wind turbine manufacturer LM Wind Power for $ 1.65 billion to consolidate its renewable energy business. The acquisition will be completed in the first half of 2017 and will be officially operational by the end of 2018.
The relevant person in charge of the GE project said that this transaction acquired 13 factories in eight countries under LM. After the acquisition is completed, LM Wind Power will be an independent business unit. GE is one of the top three wind turbine manufacturers in the world. It has been seeking to further enhance the strength of offshore wind and onshore wind power, and enhance its competitiveness with wind power giants such as Siemens and Vestas.