HVAC Breaking News

Mar. 4, 2002: GE Power Systems Agrees To Acquire Enron's Wind Business

March 4, 2002
/ Print / Reprints /
ShareMore
/ Text Size+
ATLANTA, GA — GE Power Systems announced that it has signed a definitive agreement to acquire certain assets of Enron Wind Corp., a wholly owned subsidiary of Enron Corp. and a global manufacturer of wind turbine generators.

The transaction, which is subject to regulatory and Bankruptcy Court approval, is expected to close in April.

Enron Wind is a wind power generation company with manufacturing operations in the U.S., Germany, and Spain. Headquartered in Tehachapi, CA, it has 1,600 employees worldwide. With integrated wind power capabilities, Enron Wind offers power plant design, engineering and site selection, operations, and maintenance services.

“The acquisition of Enron Wind represents GE Power Systems’ initial investment into renewable wind power, one of the fastest growing energy sectors,” stated John Rice, president and ceo of GE Power Systems. The wind energy industry is expected to grow at an annual rate of about 20%, with principal markets in Europe, the U.S., and Latin America.

“This acquisition will broaden the environmentally friendly power generation options available to our customers,” said Rice. “Customers looking for a renewable power alternative will now be able to acquire that solution from GE. Adding the global resources of Enron Wind clearly reaffirms our ongoing commitment to providing clean energy technology for the 21st century.”

Publication date: 03/04/2002

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

Recent Articles by Greg Mazurkiewicz

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 MCAA Annual Convention

Scenes from the 2014 MCAA Annual Convention in Scottsdale, Ariz.

Podcasts

Kyle Gargaro, editor-in-chief of The NEWS, hosted the 2014 ACCA CEO Forum. At the event, six well-known, highly respected company executives, Gary Michel, Ingersoll Rand/Trane; Chris Nelson, Carrier Corp.; Chris Peel, Rheem Mfg. Co.; Rod Rushing, Johnson Controls; Brent Schroeder, Emerson Climate Technologies; and Doug Young, Lennox; provided individual industry outlooks and fielded questions directly from attending contractors. Listen to the entire event on the NEWSMakers podcast. Posted on April 14.

More Podcasts

THE MAGAZINE

ACHRNEWS

NEWS 04-14-14 cover

2014 April 14

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

SERVICE CALLS POLL

Which statement on service calls best applies to your business?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con