General Electric has agreed to sell some of its Energy’s hydro business to Austrian technology group Andritz. Financial details of the transaction, which is subject to approval by anti-trust authorities, were not disclosed.
As part of the agreement, Andritz will acquire GE Energy’s hydropower technology and assets such as engineering and project management resources, research and development capabilities and specialised generator component production sites in Canada. Around 200 employees are employed in these activities.
According to Andritz, the acquisition will further complement its existing product portfolio in the field of large Francis-type turbines and generators with output capacity of at least 400MW.
In addition to its work in the hydropower market, Andritz specialises in the supply of customised plants, systems and services for the pulp and paper industry and the steel industry.