NewEnergyNews: Wind Turbine Makers In Global Race

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  • TODAY AT NewEnergyNews, October 16:

  • ORIGINAL REPORTING: Securitization fever: Renewables advocates seize a Wall Street way to end coal

    Friday, October 04, 2019

    Wind Turbine Makers In Global Race

    General Electric Is Making Headway in Its Wind-Power Business

    Al Root, October 2, 2019 (Barrons)

    “…[General Electric Renewables’ new Haliade-X technology will be for the preferred turbine option for] Dogger Bank Wind Farms, which is developing the world’s largest offshore wind farm…Dogger Bank Wind Farms plans to reach 3.6 gigawatts of generating capacity…That is about 5% of the [UK’s] energy demand…GE competes with Siemens Gamesa Renewable Energy (SGRE.Germany) and Vestas in wind power and it appears the U.S. industrial giant is making some headway against its European competitors…GE renewable-power orders were up 38% on a comparable basis in the second quarter…GE recently restructured its renewable-power unit…[to include] renewable assets such as wind, as well as the company’s grid-power-transmission business…

    [The unit’s] gains in renewable power are offset by losses in fossil-fuel power generation…GE’s renewable power unit isn’t profitable right now, generating an operating loss of $184 million in the second quarter. That, however, is an improvement from the $269 million loss a year earlier. Offshore wind isn’t profitable right now, either…[but that may] change as orders are converted to sales with deals like Dogger agreement. The global offshore wind market is projected to grow to 120 gigawatts by 2030—six times higher than in 2017…[Onshore wind is profitable] and that should continue. Gupta predicts record U.S. onshore wind installations in 2020. Onshore wind power generates about 8% of U.S. electricity…” click here for more

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