Capping a year of record growth in 2007 for GE Energy’s wind business, the company’s agreement with Invenergy LLC of more than $1 billion marks one of the largest commitments for wind turbines to be delivered in a single year in the history of the global wind industry.
GE will supply Invenergy with 600 megawatts of its 1.5-megawatt wind turbines for projects in
“With this milestone agreement, Invenergy will have secured more than two gigawatts of GE wind turbines for the 2007-2009 time frame,” said Victor Abate, vice president-Renewables for GE Energy. “The use of our proven technology by an experienced developer and fleet operator will help individual states, provinces and countries meet their Renewable Energy Standards.”
The latest Invenergy agreement reinforces GE’s leadership role in the rapidly growing wind industry. Since 2004, GE has achieved a 500 percent increase in wind turbine production, with its wind business revenues exceeding $4 billion in 2007. According to the American Wind Energy Association, over the past two years, GE has supplied wind turbines representing nearly half of the new wind capacity across the
“As a developer and operator of wind energy projects worldwide, Invenergy relies on GE’s on-time delivery of wind turbines,” said Michael Polsky, CEO of Invenergy. “The high availability and reliability and grid-integration features offered by GE wind turbines help to position our installed fleet as an industry leader for grid performance.”
GE’s 1.5-megawatt wind turbine is among the most widely used machines in the global wind industry, with more than 7,700 installed around the world. The GE 2.5xl wind turbine is the next evolution of the company’s wind turbine fleet, and builds on the success of the 1.5-megawatt technology. The 2.5xl is the largest GE wind turbine available for onshore applications, and is specifically designed to meet the immediate requirements of the European Union, where lack of available land constrains the size of projects.
In addition to the Invenergy order, other highlights for GE Energy’s wind business in 2007 included:
* Agreements to supply Noble Environmental Power with 633 wind turbines for 2007 and 2008 projects that will increase
* GE’s 2.5xl wind turbine technology selected for a wind project in
* Expansion of GE’s Renewables Global Headquarters in
Wind Product Management and
* A $400 million agreement with SkyPower Corp. with 200 wind turbines for projects across
* Receipt of the 2007 Frost & Sullivan North American Wind Power Growth Strategy Award
* A $350 million agreement with Third Planet Windpower to supply 167 wind turbines for new wind farms under development in
* A $730 million agreement to supply
GE’s wind turbine technology is a key element of ecomagination, the GE corporate-wide initiative to address challenges such as the need for cleaner, more efficient sources of energy, reduced emissions and abundant sources of clean water.
About GE Energy
GE Energy (www.ge.com/energy) is one of the world's leading suppliers of power generation and energy delivery technologies, with 2007 revenue of $22 billion. Based in
With wind turbine design, manufacturing and assembly facilities in Germany, Spain, China, Canada and the United States, GE Energy is among the leading providers of wind energy products and support services ranging from commercial wind turbines and grid integration products to project development assistance and operation and maintenance. The company's knowledge base includes the development and/or installation of more than 8,400 wind turbines with a total rated output of more than 11,300 megawatts.