GE separates renewable energy from power unit

Reuters

General Electric Co said it would separate its renewable energy business from its power unit, following the acquisition of Alstom's energy business.

The new unit, called renewable energy, will include wind- and hydro-power businesses acquired from Alstom, the company said.

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GE will also move a part of its distributed power business, which makes turbines, to its oil and gas unit from its power unit. (http://invent.ge/1VpRcPu)

GE's shares were little changed at $31.18 on the New York Stock Exchange in afternoon trading on Wednesday. (Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D'Silva)