GE Energy, the energy arm of engineering conglomerate GE, has this week closed a $1bn wind turbine deal with wind farm operator Invenergy LLC in one of the largest deals in the wind sectors' history.
GE Energy is set to supply Invenergy with 600 megawatts of its 1.5MW wind turbines for projects in America, and 200MW of its 2.5xl wind turbines for European applications. All the turbines are scheduled for shipment during 2009 and are expected to be operative by 2010. In total, GE Energy estimates the turbines will provide enough energy to power 275,000 homes.
Speaking to BusinessGreen, Magued El Daief, UK managing director of GE Energy, said the scale of the order underlines the rapid growth being experienced across the wind energy sector.
GE Energy has achieved a 500 per cent increase in wind turbine production since 2004, with wind business revenues exceeding $4bn last year. El Daief predicted growth would continue, especially given the new EU renewables targets.
However, he accepted that the demand for new turbines was placing pressure on many turbine manufacturers. "The supply chain is a challenge for the whole industry," he said. "In reality, demand is forecasted to increase, adding pressure to an already strained chain."
El Daief said that all wind turbine companies are taking steps to meet demand, adding that GE Energy is working with its existing suppliers to ramp up their capacity, in order to ensure regular and ample supply of parts.
Mainstream Renewable Power boss reveals ambitions for "gigawatts, not megawatts" 05 Jun 2008
Acquisition of Catamount Energy underlines US utility's commitment to renewables 30 Jun 2008
Global wind generation leaps ahead of expectations according to Worldwatch report 14 Apr 2008Proposals could open up most of the UK's continental shelf to wind farms as the government seeks to generate enough energy to power all the country's homes 10 Dec 2007
Report from British Wind Energy Association predicts UK to provide over a third of global offshore wind capacity by 2015 15 Oct 2007
Intelligent Energy ramps up funding for R&D and partnerships 04 Jul 2008
Focus on energy savings through fuel efficiency for homes and public and commercial buildings 04 Jul 2008
ActionAid accuses G8 of driving more people into poverty by pursing biofuels and cutting agri-aid 04 Jul 2008
More news
Businesses' new found focus on the environment may be welcome, but according to Conrad MacKerron, it is taking attention away from workers' rights issues – and the credibility of the entire green business movement could be at risk 03 Jul 2008
It may be a year old, but as Dell's Jonathan Perry explains, firms looking to get rid of their old IT kit still need to pay attention to the WEEE directive 02 Jul 2008
Telling customers about your environmental targets is all well and good but, as Paul Thomas argues, they are meaningless if you do not know how they are to be achieved 01 Jul 2008 More in-depth
Post your comment
Send an email to the Business Green editor at feedback@businessgreen.com
