By Renée Francoeur
May 11, 2016 – GE Power says it has signed a purchase agreement to acquire the Heat Recovery Steam Generator (HRSG) business of Doosan Engineering & Construction for $250 million.
“With the Alstom acquisition, we are now offering full power plant solutions and seeing an even greater demand for our highest-efficiency HA heavy-duty gas turbine plants,” said Steve Bolze, president and CEO of GE Power. “The Doosan Engineering & Construction HRSG acquisition will help us meet our forecasted growth and better manage costs by increasing our global manufacturing capacity and further complementing our existing HRSG technology.”
Doosan, established in 1977, has three manufacturing facilities, one in Korea and two in Vietnam, and over 1400 employees specializing in engineering, project management and manufacturing. The company has also been a supplier to GE and a long-term licensee of Alstom technology until 2007, according to GE Power.
HRSG technology is a critical component of a combined-cycle power plant, GE explains. Capturing the exhaust heat from the gas turbine, the water is converted into steam, which is then used to drive a steam turbine to produce additional power output.