EnergyWatch

GE will lose billions on wind in 2019

A hyperactive US wind market will restrict free cash flows, says GE, which counts on installing more than 4,000 wind turbines this year – but expects its renewable energy division to book a profit margin of zero.

Photo: General Electric Company

General Electric will be hitting the restart button in 2019. That was the US conglomerate's main message in its annual investor outlook published Thursday. The company expects negative cash flows of up to USD 2 million, and the renewable energy division will be causing the deepest brow furrows with its projected cash flow deficit of around USD 800 million.

Unlike GE's faltering Power and Gas divisions, it is possible to see this in a positive light, due to the fact that the largest single causal factor behind these figures is the manufacturer's recent deluge of domestic market orders requiring execution up to the PTC tax credit scheme's 2020 expiry – which is to say, orders already paid in full.

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