Environment Monitoring

General Electric is buying one of the world’s largest wind turbine blade manufacturers, LM Wind Power, for $1.65 billion. The acquisition will allow GE to bring wind turbine blade design in-house to drive down cost faster than it would have with LM Wind as an independent supplier, according to Jérôme Pécresse, president and CEO of GE Renewable Energy. GE is buying LM Wind from London-based private equity firm Doughty Hanson for 8.3 times EBITA. LM Wind will operate as a standalone subsidiary. The…