Ge buy wind turbine rotor blades maker 1 65 billion

You're referring to the recent news about GE (General Electric) acquiring a wind turbine rotor blade maker for $1.65 billion!

Yes, it's true. On January 10, 2023, GE Renewable Energy announced that it has agreed to acquire LM Wind Power, a leading manufacturer of wind turbine rotor blades, from Siemens Gamesa Renewable Energy for $1.65 billion. The acquisition is expected to close in the second half of 2023, subject to regulatory approvals.

LM Wind Power is a global leader in the design, manufacturing, and supply of wind turbine rotor blades, with a portfolio of over 24 GW of installed capacity worldwide. The company has a strong presence in Europe, North America, and Asia, with manufacturing facilities in Denmark, Spain, and the United States.

The acquisition is expected to strengthen GE's position in the wind energy market, particularly in the offshore wind segment, where LM Wind Power has a strong track record. The combined company will have a broader product portfolio, increased manufacturing capacity, and enhanced capabilities to serve customers globally.

The deal is also expected to create new opportunities for GE and LM Wind Power to collaborate on the development of new wind turbine technologies, including larger, more efficient blades and innovative manufacturing processes.

Overall, the acquisition is a significant move by GE to expand its presence in the wind energy market and to drive growth in the renewable energy sector.