The American company’s renewables arm has seen its revenues grow to $2.90 billion during the third quarter of 2017, compared with $2.77 billion in Q3 2016.
It also reported the division’s profits were $257 million during the third quarter — a 27% rise year-on-year.
GE Renewable Energy’s revenues grew to $7.41 billion in the first nine months of this year, a 13% higher than the same period of 2016.
Meanwhile, its profits totalled $524 million from January to September this year, also a 27% increase over 2016.
.@GErenewables $3.0B in orders | $2.9B in revenue +5% year on year | our highlights in $GE 3Q results for 2017 https://t.co/2vIaAlzNLL pic.twitter.com/lzt2nHmuI3
During the third quarter, GE won a contract from Invenergy to supply 800 turbines to American’s largest wind farm, the 2GW Wind Catcher project in Oklahoma.
The manufacturer also introduced its 4.8MW turbine — GE’s largest onshore turbine to date.
"This was a very challenging quarter," chairman and CEO John Flannery admitted.
"While a majority of our businesses had solid earnings performance, this was offset by a decline in Power performance in a difficult market."
GE’s Power division saw revenues fall 4% year-on-year in the quarter, and profits were down 51%.
Total group revenue totalled $33.5 billion in Q3, a 14% year-on-year increase.
