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GE places large turbine orders with Horizon and Invenergy

Large turbine orders are still being signed in America despite continuing uncertainty over the future of the US wind market's federal production tax credit. Last month GE Energy announced agreements with two developers, independent Invenergy and Horizon Wind, for delivery of 900 MW of its 1.5 MW machine to US sites in 2009 and 2010. Invenergy is taking 600 MW and Horizon, a division of Portuguese utility Energias de Portugal, 300 MW. The Invenergy agreement, with a price tag of more than $1 billion, also includes 200 MW of GE 2.5 MW turbines for European projects, with delivery next year. Invenergy is among a new group of large developers that have been going long on turbine purchase deals but later offering wind turbines for sale (page 44). Previously announced Invenergy purchases from GE were for 600 MW for 2007 and 700 MW for 2008. The Horizon agreement calls for 201 units of GE's 1.5 turbines for 2010. Some of these turbines appear destined for the state of New York, the home base of GE's wind unit and a booming wind market, where Horizon is opening an office in Albany. As recently as October, Horizon announced a purchase deal for 500 MW of GE 1.5 MW units for delivery in 2008 and 2009.

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