GE Looks to Double Revenue in China by 2014
There’s no arguing that China has one of the biggest consumer bases in the world, and General Electric Co. (GE), is looking to turn over some hefty revenues in China in coming years. The company’s president in China, Mark Hutchinson, says the $5 billion in revenue GE made in China in 2010 is too low for a market of that size, and is looking to increase revenue dramatically by 2014.
“It should be a lot bigger,” says Hutchinson. “My job is to work with the team and with our partners to grow that. We are going to double our business in China, including revenue, over the next three years.”
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GE China’s major business segments include: aviation, healthcare, energy, and transportation. GE Healthcare, for example, was established in China in 1979 and has grown to seven global manufacturing sites with over 4,500 employees.
According to Hutchinson, GE is looking to partner with more Chinese firms in various market segments through the formation of more joint ventures.
“When people ask me whether GE is afraid of the risk of Chinese partners becoming competitors, I say that competition is a good thing,” notes Hutchinson. “It helps us get better. On the other hand, if we team up together, we can grow together. It is going to be a win-win partnership.”
Swire Energy buys ALL NRG, Vestas wins Australia wind order
The company currently operates across wind markets in Europe and Asia. ALL NRG was established in 2014 by Nordic private equity firm, Via Equity, by the acquisition of four prominent energy-related companies: APRO Wind, VB Enterprise A/S, Q-Star Energy A/S and WTG Partners A/S.
Manfred Vonlanthen, CEO of Swire Energy Services, said: “This acquisition, alongside the investment of BladeInsight in June of this year, positions Swire Energy Services firmly within the wind industry. ALL NRG has an impressive track record and is a trusted service provider, with access to over 600 highly qualified technicians.
“With this competence, in combination with our global reach and our long-term experience operating safely in the offshore environment, we will be able to service OEMs, operators, and owners with a full spectrum of specialist services for wind projects globally. We welcome Michael Thatt and his team and look forward to developing our service offering together in line with our strategic vision for wind services within SES.”
Via Equity is happy to see the ALL NRG services continuing under new ownership and we are certain SES will have great opportunities to excel in the very promising market for wind and solar, added Peter Thorlund Haahr, partner at Via Equity.
This is the second wind focused acquisition for Swire Energy Services this year, and forms part of the company’s long-term strategic objective to grow its renewable energy sector offering to support customers through the energy transition.
ALL NRG will be rebranded Swire Energy Services, which will roll out across the organisation from August 3.
Vestas wins 58 MW wind project order in Australia
In partnership with Global Power Generation, a subsidiary of the multinational power company Naturgy Group, Vestas has secured a 58MW deal for Crookwell 3 Wind Farm in New South Wales, Australia. The project will feature 16 V126-3.45 MW wind turbines in 3.6 MW operating mode which Vestas will supply and install.
Upon completion, Vestas will also deliver a 15-year Active Output Management 5000 (AOM 5000) service agreement. This agreement will optimise energy production while also providing long-term business case certainty.
“As the largest installer and maintainer of wind turbines, both globally and nationally, we are pleased that customers like Global Power Generation (Naturgy Group) continue to choose our leading technology, market experience and broad service solutions”, said Purvin Patel, President of Vestas Asia Pacific.
“Global Power Generation (Naturgy Group) is a globally valued customer to Vestas”, said Peter Cowling, Head of Vestas Australia and New Zealand. “We look forward to championing their ambitious vision of sustainability in Australia through the successful delivery of Crookwell 3 Wind Farm, and our remaining projects which are currently in progress.
Once again, Global Power Generation is very pleased to partner with Vestas as OEM and long-term maintenance provider for Crookwell 3 Wind Farm, added Pedro Serrano, Chief Business Development Officer, Global Power Generation (Naturgy Group). Delivery of the wind turbines is expected to occur in the second quarter of 2022, with commissioning to commence in Q4 2022.
Last month leading CEOs from the global wind industry united to call on G20 members to show leadership in the climate crisis by raising national ambitions and urgently laying out concrete plans for increased wind energy production to replace fossil fuels (click here).