EnergyWatch

GE's wind turbines under severe price pressure

Even though the order intake in the fourth quarter was virtually the same as the year before, earnings on onshore wind turbines are declining 19 percent. "Major price pressure," says GE.

Photo: General Electric Company

In last year's fourth quarter, GE's sales and order intake for wind turbines remained at the level of the year before. The US conglomerate sold 725 turbines and landed orders for 1,165, which was 64 fewer sold and 25 fewer ordered turbines than in the same period the year before.

However, the order value shows that GE has been hit by the infamous price pressure in the industry. The company states that the value of onshore wind turbines in the past quarter was USD 2.8 billion which is a decline of 10 percent year-on-year. This was driven by a decline in equipment of 19 percent, however, it was offset by an increase of 38 percent in service, according to the company's financial report.

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