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General Electric Company (NYSE:GE) Wants To Become Major Player In Offshore Wind Industry- Colfax (NYSE:CFX), Headwaters (NYSE:HW)

General Electric Company (NYSE:GE) [Detail Analytic Report] inched up in before market session on on Wednesday as it desired to become a major player in offshore wind industry and is interested in buying the Areva-Gamesa (AREVA) offshore joint venture Adwen, GE’s new head of renewables said on Tuesday. After its takeover of the energy assets of French Alstom (ALSO), GE in November 2015 created a global renewable energy business unit with sales of 9 billion euros ($10.42 billion), staff of 13,000, and its headquarters in France.

The resulting enlarged unit has built about 25 percent of the world’s installed base of hydropower and more than 20 percent of global onshore wind capacity, but has virtually no presence in the capital-intensive offshore business, which GE had always steered clear of. “We have...


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