GE Energy Turbine Orders Top $1 Billion

Coming at the heels of an announcement that GE Energy will supply Third Planet Windpower with $350 million worth of its 1.5-megawatt (MW) wind turbines, yesterday the company announced the signing of a global frame agreement with the renewable area of EDP – Energias de Portugal, SA, to supply wind turbines totaling more than 500 MW of new capacity for wind projects to be developed during 2008 and 2009 in Europe and the United States.

Total value of the agreement will be $730 million, bringing GE Energy’s recent wind turbine order announcements to more than $1 billion.

Under the frame agreement with EDP, GE will supply Neo Energia, the European renewable branch of EDP, with 80 2.5xl wind turbines for new wind projects in Europe.  GE will also provide Horizon Wind Energy LLC, EDP’s American branch, with 201 1.5-MW wind turbines for projects in the United States, at sites yet to be determined.

EDP, Portugal’s largest power group, purchased Houston-based Horizon earlier this month, as part of an expansion into the North American wind energy industry.

“In the U.S. and around the world, we continue to see strong interest in the production of cleaner, wind-generated electricity,” said Victor Abate, Vice President-Renewables for GE Energy. “In the U.S. alone, more than 2,400 megawatts of new wind power was installed in 2006 while worldwide, more than 15,000 megawatts were installed, according to the Global Wind Energy Council.”

According to the company, the European phase of the frame agreement represents GE’s largest supply of 2.5xl wind turbines to date. Introduced last year, the 2.5xl is the largest GE wind turbine for onshore applications and is designed to meet the immediate requirements of the European Union, where the lack of available land constrains the size of projects.

EDP-owned Horizon Wind Energy or its affiliates will own all of the U.S. projects. Sixty-seven of the GE wind turbines for the U.S. projects and 30 turbines for the European projects are expected to be commissioned before the end of 2008.

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