Windfall for Europe as GE Invests $450 Million in Offshore Turbines

wind turbine

Four European countries are to benefit from GE’s announcement this morning that it is to invest 340 million euros in the offshore wind business, which will include manufacturing, engineering, and service facilities. The company is taking its next-gen, gearboxless, 4-megawatt Direct Drive Wind Turbine to the continent’s shores. This is not the first sniff of the old continent’s airs that GE’s turbines have had: a test site has been operating in Norway for over five years.

As well as the Norwegians, Sweden, and Germany, who already host offshore wind facilities run by GE, have been joined by Britain, which is hoping for the creation of 2,000 jobs over the next decade, thanks to a manufacturing plant and service engineering resources. With an estimated 70% increase in Europe’s offshore wind sector this year, GE sees Europe as a big opportunity for growth, as the European Union has pledged to produce 20% of its energy via renewable resources by 2020.

[GE Newscenter]AD