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.
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