General Electric, the company that just dedicated its new oil and gas research center in Oklahoma City just agreed this week to spend $1.65 billion on wind energy.
The company announced it will buy one of its suppliers of wind turbine blades from British private equity shop Doughty Hanson and Company. It’s a move that GE says will reduce energy costs and at the same time increase its wind energy production.
The purchase is of LM Wind Power, a Denmark-based manufacturer of wind turbine blades with 13 factories in eight companies. GE intends to operate LM Wind Power as a stand-alone division.