Having received orders and commitments for 2005 that total 2,400 megawatts of new wind power capacity worldwide, GE Energy has forecast that revenues from its rapidly increasing wind power division will reach the $2 billion mark this year.
GE Energy made the bold prediction at the Windpower 2005 conference in Denver and, if realized, the added business would represent an increase in revenue of 300% over its first-year wind operations in 2002.
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 US. This will mean that GE Energy’s US business will make up two thirds of the new wind capacity built in the US for the year, according to the American Wind Energy Association forecast.
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 of power generation at GE Energy.
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.