GE Energy Secures Second Contract Over $1 billion in Recent Months with Invenergy Wind

March 6, 2008 – Vol. 12 No. 50

GE Energy Secures Second Contract Over $1 billion in Recent Months with Invenergy Wind.

These agreements are among the largest commitments for wind turbines to be delivered in a single year in the history of the global wind industry.

Under the latest agreement, GE will supply Invenergy with 750 megawatts of wind turbines for American projects to be constructed in 2010. The turbines will be enough power to meet the requirements of more than 200,000 households.

In January, GE announced a similar agreement of more than $1 billion to provide wind turbines to Invenergy for US and European projects to be built in 2009.

“As these agreements demonstrate, the demand for wind energy continues to grow at a record pace,” said Victor Abate, Vice President-Renewables for GE Energy. “It is clear that abundant, reliable, carbon-free wind power will continue to play a key role in the energy future of this country.”

GE’s Abate also sees the need for the US to adopt “stable renewable policies, such as a long-term production tax credit (PTC) for wind projects. Such standards would sustain the industry’s momentum, creating more jobs and economic opportunities while helping the country to further increase its supply of renewable energy and reduce dependence on foreign energy sources,” he said.

With this order, Chicago-based Invenergy will have completed in excess of 3,500 megawatts of wind power projects in North America and Europe by 2010.

GE Energy, of Atlanta, Georgia, is one of the world’s leading suppliers of power generation and energy delivery technologies, with 2007 revenue of $22 billion.

Links:

GE Energy
http://www.ge.com/energy

Invenergy
http://www.invenergyllc.com

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Horizon Wind Orders 201 Turbines from GE Energy.

Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: No