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GE Boosts Renewable-Energy Unit With $1.65 Billion Wind Deal

  • Acquisition is latest in effort to meet global energy demand
  • LM Wind Power will run as a standalone business, GE says
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General Electric Co. plans to buy a maker of wind-turbine blades for $1.65 billion (1.5 billion euros), bolstering the renewable-energy business amid growing demand for clean power.

The deal for Denmark-based LM Wind Power will enhance GE’s ability to serve customers in the onshore and offshore wind markets, the companies said Tuesday in a statement. LM Wind Power, which is owned by private-equity firm Doughty Hanson, will run as a standalone business within the renewable-energy unit.