GE GE and XD Electric Group today announced the official
formation of a new global partnership combining GE's world-class grid
automation capabilities and global energy presence with XD Electric's
comprehensive portfolio of high-voltage (HV) power equipment. GE now owns 15
percent of XD Electric and holds one board seat. Another component of the
partnership includes the formation of a joint venture (JV) with XD to offer
customers in China GE's localized grid automation equipment and services.
Originally announced in May 2012, the partnership expands GE's industry
capabilities as a leading provider of transmission and distribution (T&D)
solutions and creates a new global competitor to provide customers with state
of the art HV technology offerings in a $100 billion industry.
Through the partnership, GE and XD will offer end-to-end T&D solutions to meet
the growing demand for electricity in emerging economies where demographic and
urbanization trends are straining the current grid infrastructure; as well as
provide customers in developed countries with HV solutions to modernize their
aging grids with more efficient and reliable electrical power systems. The
combined portfolios also will support the rapid electrification and
productivity requirements demanded by energy-intensive industries like oil and
gas, mining and petrochemicals.
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