$700 MIL: GE LANDS ANOTHER TURBINE DEAL

The rise of GE Energy in the turbine manufacturing sector is a huge U.S. success story. Production of turbines has grown 500% since 2004. GE sold more than $4.5 billion worth of turbines in 2007 alone. In the last 2 years GE has produced more than one-half of total U.S. wind energy capacity. Globally, there are more than 8,000 GE 1.5-megawatt turbines in use. It is the most widely used turbine in the world.

There may be something to this ecomagination thing. (click to enlarge)

Renewable Energy Systems taps GE Energy
February 28, 2008 (Atlanta Business Chronicle)
and
GE Supplying Wind Turbines To Renewable Energy Systems…
February 28, 2008 (GE press release)

WHO
GE/GE Energy, RES/RES Americas

WHAT
GE Energy has contracted with RES Americas to provide $700 million in new wind energy capacity, plus commissioning and operations services and maintenance support.

Everybody else in the wind business is looking up at GE. (click to enlarge)

WHEN
- 2009/2010: Delivery and installation of contracted turbines.
- 2007: GE Energy earned $4.5 billion in the wind energy business.

WHERE
- GE Energy is based in Atlanta, GA.
- RES Americas is based in Austin, TX. It is part of UK-based Renewable Energy Systems.

RES is a power in England; subsidiary RES Americas is a power in the U.S. (click to enlarge)

WHY
- RES/RES Americas has built 12% of U.S. wind energy capacity.
- The purchase of GE’s field-proven 1.5-megawatt turbines will provide 500 megawatts of new wind energy capacity.

QUOTES
Victor Abate, vice president-renewables, GE Energy: "Throughout the United States we continue to witness strong interest in the production of cleaner, wind-generated electricity…We are pleased that RES has selected our well-proven, 1.5-megawatt technology to help the company reach its build-out goals for the years ahead."