May 16, 2005 02:54 PM US Eastern Timezone
GE Energy's 2005 Wind Revenues to Increase 300% over 2002, Its First Year of Wind Operations; Wind Unit Expected to Exceed $2 Billion in Revenue
DENVER--(BUSINESS WIRE)--May 16, 2005--GE Energy has received orders and commitments for 2005 that total 2,400 megawatts of new wind power capacity worldwide. These projects represent an anticipated increase in revenue of 300% over its first-year wind operations in 2002, the company reported today at Windpower 2005.
From $500 million in revenue in 2002, GE Energy expects its wind energy revenue to grow to more than $2 billion this year. Supply orders calling for 1,600 wind turbines to be installed worldwide include 1,100 wind turbines, or a total of 1,650 megawatts, for the United States. This represents 66% of the up to 2,500 megawatts of new capacity that the American Wind Energy Association has forecast for the U.S. this year.
"Wind power continues to be the fastest growing segment of the global energy industry, and it certainly is a very significant part of the diverse energy solutions portfolio that we offer to our customers around the world," said Mark Little, vice president-power generation of GE Energy and one of the featured speakers at Windpower 2005. "As evidenced by GE's recent ecomagination launch, our commitment to cleaner energy solutions, including wind power, is at the forefront of our company's business initiatives."
To support GE's wind energy growth initiatives, Robert Gleitz was named general manager of GE Energy's wind business earlier this year and will lead its new product development. Gleitz brings 20 years of global energy experience to the position.
Highlighting its commitment to support its customers' wind energy needs, GE continues to expand its engineering staff and research and development capabilities dedicated to wind-related technology development. Recent customer-focused milestones include:
-- Enhancements to one of the most widely sold and tested megawatt - class machines in the global wind industry, GE's 1.5-megawatt wind turbine, which recently surpassed 3,000 installations worldwide.
-- The successful deployment of the industry's first offshore wind plant built by GE solely to demonstrate its offshore technology and learn more about the rigors of wind energy installation and operations at sea. Owned and operated by GE, the Arklow Bank Wind Park in the Irish Sea, the world's first offshore wind project to use turbines over three megawatts, has completed more than a year of successful operation. Comprising seven of GE's 3.6-megawatt wind turbines, the plant will be officially inaugurated during a May 26 ceremony to be attended by Bertie Ahern, the Irish Prime Minister (Taoiseach), and David Garman, Undersecretary of Energy for the U.S. Department of Energy.
-- The opening of two customer support and training centers. Located in Salzbergen, Germany and Tehachapi, California the facilities offer 24/7 response, and have facilitated an increase in GE's 1.5-megawatt wind turbine availability to 98% fleetwide. In addition, GE's Global Research-Europe Center was opened in Munich to support further technology R&D, including the increase of wind turbine reliability and performance.
About GE Energy
GE Energy (www.gepower.com) is one of the world's leading suppliers of power generation and energy delivery technology, with 2004 revenue of $17.3 billion. Based in Atlanta, Georgia, GE Energy provides equipment, service and management solutions across the power generation, oil and gas, transmission and distribution, distributed power and energy rental industries.
With wind turbine design, manufacturing and assembly facilities in Germany, Spain and the United States, GE Energy's current wind energy portfolio includes wind turbines with rated outputs ranging from 1.5 to 3.6 megawatts, and support services ranging from project development assistance to operation and maintenance. The company's knowledge base includes the development and/or installation of more than 7,100 wind turbines with a total rated output of 5,600 megawatts.
Contacts
GE Energy, Atlanta
Dennis Murphy, 678-844-6948
dennis.murphy@ps.ge.com
or
Masto Public Relations
Ken Darling or Howard Masto, 518-786-6488
kenneth.darling@ps.ge.com
howard.masto@ps.ge.com
