United States

United States

GE renewables hit by lower sales in Q1

UNITED STATES: Lower onshore wind equipment sales in the first quarter of 2018 meant revenue for GE's renewable energy division was down 6.8%.

GE announced plans for what could be the world’s most powerful offshore wind turbine, the 12MW Haliade-X in Q1 2018
GE announced plans for what could be the world’s most powerful offshore wind turbine, the 12MW Haliade-X in Q1 2018

The manufacturer recorded revenues of $1.64 billion, down from $1.76 billion a year earlier, in its quarterly results.

GE’s order backlog grew 8% compared to Q4 2017, however. This was "principally from strength in onshore wind", the company added.

Overall, the division’s profit for the segment increased 10% year-on-year from $70 million to $77 million.

GE claimed a "strong performance" in its renewables, aviation, healthcare, and transportation businesses, but stated that its power and oil and gas industries "continue to be challenging".

Its renewable energy division announced an order to supply 26 turbines for the first phase of a 200MW wind farm in Ukraine in January 2018.

The following month, it said French utility Engie had placed an order for 144 turbines with a combined capacity of 360MW for a cluster of its wind farms in Brazil.

And in March, GE announced plans for what could be the world’s most powerful offshore wind turbine, the 12MW Haliade-X, as well as a new energy storage platform to complement wind, solar and thermal power applications.

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