GE and XD Electric form global transmission and distribution partnership
GE and XD Electric Group have formed a partnership to deliver a full line of electric transmission and distribution (T&D) and grid automation solutions to customers worldwide. The companies say the partnership creates a global competitor to provide customers with technology offerings to build and upgrade their electrical infrastructure to meet the demand for reliable electricity.
As part of the partnership, GE has purchased a 15% equity stake in XD Electric and will have a representative on the XD board of directors. The companies will establish a joint venture to offer customers in China localised grid solutions.
“This is the beginning of an important relationship between two companies with complementary product lines and commitments to technology,” said Bob Gilligan, president and CEO of GE’s Digital Energy business.
“It will enhance GE’s ability to provide end-to-end transmission and distribution solutions and expand our presence in the fastest growing regions of the world. Together, GE and XD Electric will become one of the global leaders in comprehensive T&D technology solutions.”
The partnership remains subject to regulatory approvals and customary closing conditions. GE and XD Electric anticipate the partnership will begin operations in Q4 2012.
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