General Electric has just completed its $250 million acquisition of the Heat Recovery Steam Generator (HRSG) business of Doosan Engineering & Construction that was originally announced in May 2017. This acquisition is expected to boost GE Power‘s ability to meet the growing demand for its combined-cycle power plant solutions, which utilize the HRSG technology.
Joe Mastrangelo, president and CEO of GE’s Gas Power Systems, said “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.”
Korean-based Doosan Engineering & Construction HRSG has been a supplier to both GE and Alstom and has a long history as an Alstom licensee. The company will now be integrated into GE Power’s Gas Power Systems business, which already includes Alstom’s legacy HRSG business.
Doosan’s Korean employees and the company’s facility in Changwon, Korea have been transferred to GE. Transactions in Vietnam are expected to close early next year, pending regulatory approvals.