USA: Expansion of Combined Power Plant Solutions GE Acquires HRSG Business of Doosan
GE Power, a division of GE, has completed the acquisition of the Heat Recovery Steam Generator (HRSG) business of Doosan Engineering & Construction for $ 250 million.
Schenectady/USA — Originally announced in May, the Doosan Engineering & Construction HRSG acquisition is intended to help GE Power meet the growing demand for its combined-cycle power plant solutions, which utilize HRSG technology.
“As we expand demand for our HA gas turbines and efficient combined-cycle solutions, a critical part of having the best integrated offering includes Heat Recovery Steam Generators (HRSGs) that enable better plant performance and cost. This acquisition brings expanded leadership in engineering, equipment and infrastructure to our portfolio and positions us to be a global leader in HRSG,” said Joe Mastrangelo, president and CEO of GE’s Gas Power Systems.
Doosan Engineering & Construction HRSG has been a supplier to both GE and Alstom and has a long history as an Alstom licensee. Doosan Engineering & Construction HSRG will now be integrated into GE Power’s Gas Power Systems business, which already includes Alstom’s legacy HRSG business.
With the announcement, Korean Doosan E&C HRSG employees and the facility in Changwon, Korea have been transferred to GE. Transactions in Vietnam are expected to close by Q1 2017 pending regulatory approvals