GE hit hard by price reduction

The US company's renewable energy revenue was cut in half.

Photo: GE Renewable Energy

Declining prices on wind turbines in the fourth quarter played a role in squeezing US-based General Electric's earnings from its wind power business, which competes with sector players such as Vestas and Siemens Gamesa.

GE's Renewable Energy division, which is mainly wind turbines comprised of wind turbines, saw its earnings cut in half, while order intake increased realtive to the year prior.

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