GE Energy has completed the acquisition of a 10-year-old Norwegian firm that makes wind turbine technologies aimed at offshore deployment.
The Atlanta-based energy unit of General Electric Co. bought Trondheim, Norway-based ScanWind for 130 million Swedish Kronor (about $18.5 million). ScanWind was owned by Morphic Technologies, a holding company Karlskoga, Sweden, that focuses on fuel cells and wind power.
GE Energy and Morphic reached terms of the deal on Aug. 12. The closing was announced Sept. 14.
“The acquisition of ScanWind is an important step in our strategy to place GE in a strong position in the growing offshore wind segment,” said Victor Abate, vice president of renewable energy for GE Energy, at the European Offshore Wind Conference in Stockholm, Sweden. GE believes that European Union member states will invest heavily in offshore wind technology to help meet their renewable energy goals by 2020.
ScanWind has 41 employees who have designed and developed 11 turbines operating on the Norwegian coast, according to a GE news release. ScanWind’s turbines are reliable and easy to maintain, properties that are vital in offshore energy applications, Mr. Abate said.
GE Energy invests $1.4 billion of its annual $6 billion research and development budget into clean technology. ScanWind’s turbines join a GE family that includes the most widely deployed turbine in the world, the GE 1.5 megawatt series, of which there are 12,000 in operation worldwide, according to the news release.
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