Following the 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. Grid Solutions equips 90% of power utilities worldwide with estimated revenues of approximately US$6.2 Billion.
The partnership further emphasizes GE’s commitment to deliver power reliably and efficiently from the point of generation to end power consumers. The new Grid Solutions business aims to:
- Help meet growing energy demands, expected to increase 78% globally by 2040
- Improve grid resiliency and energy efficiency
- Upgrade and digitize aging infrastructure
- 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 for 14 years; he will be based at Grid Solutions’ global headquarters in Paris.
“With deep roots in engineering, innovation and technology, the combination of GE and Alstom will provide customers with the widest range of generation-to-transmission solutions and a global geographical presence for a complete portfolio of solutions,” said Garcia. “I’m honored and excited for this new venture – not only for the future of our business, but for the value it will bring to our customers.”