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GE receives 1.4 Gigawatts of wind orders in December 2015.

M2 EQUITYBITES-January 21, 2016-GE receives 1.4 Gigawatts of wind orders in December 2015


GE (NYSE:GE) announced on Wednesday that its division GE Renewable Energy has secured 1.4 gigawatts (GW) of firm and unconditional wind turbine supply orders in December 2015.

Under these agreements, financial details of which were not available, GE's wind technology will be supplied to over 20 new wind projects across seven different countries. Approximately half of the planned 1.4 GW is scheduled to be installed outside the US, in countries including Brazil, India, France, Germany, Turkey and the UK.

In the US, Lincoln Clean Energy and Starwood have selected GE's new 2.3-116 turbines for the Horse Creek wind farm, a 230 MW project in northern Texas. In addition to utilising GE's new 2 MW turbine platform, this site has also established a full services agreement and will benefit from GE's Digital Wind Farm capabilities.

In Europe, GE has signed deals in France, Germany and the UK in December 2015. The company recently announced its largest French onshore wind deal to date with Velocita Energies for two wind farms in the Franche-Comte region.

Also, in Turkey, GE will supply turbines for Guris Insaat's 85 MW extension of the Dinar wind farm in Afyon, as well as for Dost Enerji's 70 MW Bergres wind farm in Izmir, on the Aegean coast.

According to the company, this flurry of deal activity follows the recent launch of GE Renewable Energy, a new business unit the company introduced in November 2015 after completing its acquisition of Alstom's renewable energy group.

This acquisition expanded GE's European wind turbine installed base by approximately 50% and grew its global wind footprint to more than 30,000 turbines worldwide.

GE, a Digital Industrial Company, offers solutions in finance, wind, energy, healthcare and aviation, among others.

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Publication:M2 EquityBites (EQB)
Date:Jan 21, 2016
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