GE’s Abate Says New Turbines May Fuel Europe Wind-Farm Upgrades

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GE’s Abate Says New Turbines May Fuel Europe Wind-Farm Upgrades

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Bloomberg Businessweek report on GE’s newest high capacity turbine, which is likely to raise interest from wind farms across Europe; $2.7 billion in orders has already come in since introducing the product in May.

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Friday, November 11, 2011 - 4:00pm

Oct. 31 (Bloomberg) -- General Electric Co.’s newest high- capacity turbine may draw orders from wind farms across Europe because its increased yield makes equipment upgrades more viable, said Victor Abate, who runs the renewable energy unit.

The 1.6-megawatt turbines with 100-meter (328-foot) rotor blades provide more power in lighter winds than their predecessors, offering a better yield than any turbine in commercial production, GE said. The company has won $2.7 billion in orders since introducing the product in May as developers from Brazil to Kansas pay premiums for higher electricity output, he said.
 
“You get twice the power for the same number” of aging steel towers, Abate said in an Oct. 28 interview. Some customers already have begun inquiring about so-called repowering for greater efficiency.
 
GE investors are watching for higher-margin turbines to become a bigger percentage of shipments this quarter after deliveries of lower-priced units dragged down the larger GE Energy Infrastructure’s profit margins by 2.9 percentage points in the previous three months. That mix should improve in the rest of this year and speed in 2012, GE said Oct. 21.
 
 
 
About GE
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
 
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