NewEnergyNews: WIND: A BILLION DOLLAR BUSINESS

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    Thursday, October 25, 2007

    WIND: A BILLION DOLLAR BUSINESS

    The turbines for these deals will be manufactured over the next 2 years in Greenville, South Carolina. Think it might boost the local economy a little?

    Come to think of it, that would make an interesting economic study. Or documentary film.


    GE Energy wind turbine orders top $1 billion
    October 23, 2007 (Atlanta Business Chronicle)
    and
    GE Receives Contract Worth More Than $350 Million to Supply Wind Turbines
    October 22, 2007 (AP via Yahoo Finance)

    WHO
    GE Energy, subsidiary of General Electric Co., (Victor Abate, vice president, renewables); Energias de Portugal (EDP) European branch Neo Energia and American branch Horizon Wind Energy LLC; Third Planet Windpower LLC

    US wind will grow again this year. (click to enlarge)

    WHAT
    GE Energy has contracted to provide Energias de Portugual 281 wind turbines, a $730 million dollar deal. The day before, GE Energy announced a $350 million dollar deal with Third Planet Windpower LLC.

    WHEN
    The EDP deal calls for GE to send turbines to EDP branches in 2008 and 2009. The Third Planet deal has GE providing turbines in 2009.

    WHERE
    - The EDP deal has GE delivering to European and US projects. The Third Power deal will send turbines to Texas, New Mexico, Nebraska and Wyoming.
    - The machines will be produced at GE's facilities in Greenville, S.C.

    WHY
    - The EDP deal is for 281 turbines, 80 2.5xl turbines for Europe and 201 1.5 megawatt units for US projects.
    - The Third Planet deal is for 167 1.5 megawatt turbines.

    The industry is growing even faster worldwide. (click to enlarge)

    QUOTES
    Abate: "In the U.S. and around the world, we continue to see strong interest in the production of cleaner, wind-generated electricity…In the U.S. alone, more than 2,400 megawatts of new wind power was installed in 2006 while worldwide, more than 15,000 megawatts were installed, according to the Global Wind Energy Council."

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