GE Power has closed an acquisition of Doosan Engineering & Construction's heat recovery steam generator (HRSG) business for $250m.
With the deal announced in May, the acquisition will help GE Power cater to the increasing demand for its combined-cycle power plant solutions, which make use of HRSG technology.
GE’s gas power systems president and CEO Joe Mastrangelo 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.”
South Korean-based Doosan Engineering & Construction HRSG has been a supplier to both GE and Alstom.
The firm will now be integrated into GE Power’s Gas Power Systems business, which already includes Alstom’s legacy HRSG business. Employees of Doosan Engineering & Construction HRSG and the facility in Changwon have also been transferred to GE.