As per the deal, Doosan Engineering & Construction HSRG will be integrated into GE Power’s Gas Power Systems business, while complementing the existing HRSG business which was acquired from Alstom earlier.
GE expects the acquisition of the HRSG business to help meet the growing demand for its combined-cycle power plant solutions featuring HRSG technology.
GE Power president and CEO Steve Bolze said: "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.
"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."
A critical component of a combined-cycle power plant, the HRSG technology is designed to help generate up to 33% of the power output of the plant.
GE noted that the acquisition will result in increasing its engineering and production capacity, global manufacturing footprint and improving its technology.
GE Gas Power Systems president and CEO Joe Mastrangelo said: "We’re seeing HRSG demand that is more than double historical averages.
"Our investment in Doosan Engineering & Construction HRSG will bring us cost-effective, vertically integrated manufacturing and engineering capacity that will allow us to be faster and better as we ramp to meet customers’ needs."
