General Electric Co. (NYSE: GE) announced plans to buy LM Wind Power for $1.65 billion from private equity firm Doughty Hanson.

The deal for the Denmark-based maker of rotor blades for wind turbines will bolster GE’s ability to serve the onshore and offshore markets, the Boston-based company said in a statement. GE plans to operate LM Wind Power as a standalone business within the renewable-energy unit. Doughty Hanson has owned LM Wind Power since 2001.

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