United States

United States

GE wind revenues climb 6% in Q4

UNITED STATES: GE finished last year strongly as it saw revenues from its wind operations climb 6% in the fourth quarter.

GE announced its new 3.2MW turbine in the third quarter
GE announced its new 3.2MW turbine in the third quarter

The unaudited results show that overall, the power and water division saw its profit rise by 81% compared with the same period the year before, helped in part by wind's growth in revenue.

However, due to a "supply chain issue", the manufacturer said it has been forced to move the delivery of around 200 turbines from 2013 over into 2014.

When GE posts its full-year report, the fourth quarter's strong showing may be tempered by poorer results earlier in the year. The company reported first-quarter wind revenues down 53% year-on-year, following last year's boom because of uncertainty over the production tax credit's future beyond the end of 2012.

GE has looked to establish itself more effectively outside its home market over the last year, signalling its intent to move seriously into Europe. Regional general manager Cliff Harris highlighted the "strong" German order book for 2014 installation after virtually no installations in the country in recent years, in an interview with Windpower Monthly.

Turkey is another target market for one of the world's largest turbine manufacturers. In October, the company announced plans to invest $900 million in Turkey this year in the fields of wind energy and LED technologies.

Brazil is also on GE's radar, with the company emerging the big winner from November's A-3 power auction, having been awarded contracts to install wind turbines totalling 545MW.

But the firm also said in September that it was adopting a "wait and see" approach on offshore wind  despite having developed a 4.1MW turbine.

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