GE Announces $1 Billion Deal with Invenergy

January 23, 2008 | 3 Comments

GE Energy has announced an agreement with Invenergy LLC of more than $1 billion, marking one of the largest commitments for wind turbines to be delivered in a single year in the history of the global wind industry. GE will supply Invenergy with 600 megawatts (MW) of its 1.5-megawatt wind turbines for projects in North America, and 200 MW of its 2.5xl wind turbines for European applications.

All of the wind turbines are slated for shipment during 2009. The 800 MW of GE's wind turbines will provide enough wind power capacity to meet the requirements of 275,000 households.

"As a developer and operator of wind energy projects worldwide, Invenergy relies on GE's on-time delivery of wind turbines," said Michael Polsky, CEO of Invenergy. "The high availability and reliability and grid-integration features offered by GE wind turbines help to position our installed fleet as an industry leader for grid performance."

3 Comments

Todd Kearns
January 26, 2008

It's true that GE and Jack Welch are not necesarily friends of the environment. But, just like Walmart is going to single-handedly change the lightbulbs (to flourescent) that America uses, GE is doing a good thing. They are doing it because it works on the balance sheet and the cash flow statement. But it is still a good thing. Capitalism and free markets will be a part of the solution, no doubt. Don't shoot the messenger when the messenger brings good news. And keep working to build awareness of the environmental issues. Americans are listening witht heir wallets. GE will profit, and so will the earth.

Charlie Miller
January 25, 2008

GE always provides generators to utilities for grid power. GE could care less what energy supply is used: Nuclear, Hydro, Fossil, Biomass, Solar, Wind, Coal, Gas, Oil

GE never provides generators for local use or off-grid use no matter the energy source: solar, wind, hydro, biomass

GE is no hero to the environment. Jack Welch is no hero to the average consumer. GE is profit oriented loosing sales to outsourcing providers. The real profit oriented hero is the purchaser of generation to resell to grid utilities at competitive pricing with fossil and nuclear.

Deep Patel
January 23, 2008

Everyday I see news about GE's involvment in renewable energy. From helping solar installers offer financing to their clients to producing wind turbines and solar panels. GE is really take a leadership role in this industry it seems like. I suppose since GE is a product manufacturer its in their best interest to push this industry forward so more consumers will buy products to generate their energy versus buying it as a service from a utility.

-Deep Patel
www.gogreensolar.com