[February 27, 2006]
GE Energy Completes
Record Year in Wind Energy Sales; GE's Global Wind
Revenue Up 200% Over 2004
ATHENS, Greece
--(Business Wire)-- Feb. 27, 2006 -- GE Energy
(NYSE: GE) delivered 1,346 wind turbines worldwide
during 2005, completing the year with revenue
exceeding $2 billion - more than a 200% increase
over 2004's total - the company reported today at
the 2006 European Wind Energy Conference &
Exhibition.
GE's 2005 wind revenue also was more than 400%
higher than in 2002, GE's first year of wind
operations, underscoring wind energy's continued
growth in global popularity.
"We are seeing an incredible growth in demand for
wind turbines as more countries seek to expand their
renewable energy production to help reduce their
greenhouse gas emissions and improve their energy
security," said Robert Gleitz, who was appointed
general manager for GE's wind business in the spring
of 2005.
Wind energy is a key component of GE's
corporate-wide ecomagination initiative to
aggressively bring to market new technologies that
will help customers meet pressing environmental
needs.
"For example, in 2006 GE is expanding its line of
wind turbines by launching its new multi-megawatt
turbine platform in Europe, followed by a similar
U.S. and Asia commercial roll-out in 2008," Gleitz
said.
GE's multi-megawatt units build on the experience
learned from the company's global fleet of over
4,000 megawatt-plus wind turbines. Evolving from
GE's proven 1.5-megawatt and earlier "2.x"-megawatt
series, GE's newest machines introduce a number of
industry innovations, including a permanent magnet
generator, a modular converter with full power
conversion and advanced control technologies.
In the United States, GE delivered 1,005 wind
turbines as the industry enjoyed its most productive
year. According to the American Wind Energy
Association, the U.S. industry broke its annual
installed capacity record by adding 2,431 megawatts
of turbines. GE's turbines accounted for about 62
percent of the U.S. total.
"The extension of the federal wind-energy production
tax credit in 2005 helped trigger the
record-breaking year and provided momentum that will
carry over through 2007," said Gleitz, noting the
company is already accepting orders for 2008.
About GE Energy
GE Energy (www.ge.com/energy) is one of the world's
leading suppliers of power generation and energy
delivery technologies, with 2005 revenue of $16.5
billion. Based in Atlanta, Georgia, GE Energy works
in all areas of the energy industry including coal,
oil, natural gas and nuclear energy; renewable
resources such as water, wind, solar and biogas; and
other alternative fuels. Numerous GE Energy products
are certified under ecomagination, GE's
corporate-wide initiative to aggressively bring to
market new technologies that will help customers
meet pressing environmental challenges. |
