GE completes $10.6 billion acquisition Alstom division

SCHENECTADY, N.Y. (NEWS10) – Over 50 percent of GE’s customers are based outside the United States, and starting Monday, that amount has doubled to 150 countries and regions.

“Close to a third of the electricity in the world is generated by our technology,” Steve Bolze, GE Power President and CEO said.

GE merged with Alstom to create GE Power, what was once 35,000 employees has now turned into 65,000.

GE officials say the world needs 50 percent more power and some countries are struggling to meet their basic needs with electricity.

“When you travel around in some of these countries that are just starting to develop and you see what their citizens go through just to have some basic fundamental needs,” Jeff Connelly, GE Power Vice President told News 10. “So that we kind of take for granted, it really helps us instill a sense of purpose for what we’re doing.

GE will be one of the top manufacturers of steam and gas turbines and generators and with a touch of a button here, you can see how technology has helped a power plant become more efficient.

It’s all controlled right in our backyard of the Electric City – something Schenectady, officials say, should be proud of.

“It continues to mean that everybody in the world tends to come here,” Bolze says. “Number two is we continue to expand around the world. This is our headquarters; this is our center of activity.”

With a variety of services becoming more available there will be lower operating costs and staying green.

“The addition of the Alstom technology to what GE already has with our turbines and generators allow us to now optimize the entire performance of a power plant which we were able to do before but not to the degree that we can with this integrated equipment,” Connelly says.

It took almost over a year for GE Power to be born but think of it like this, Schenectady will now control power millions of miles away.

G.E. reached this deal with Alstom in 2014 and is aiming to have $3 billion in cost synergies.

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