EnergyWatch

GE acknowledges disappointing wind quarter

Even though the key US market is going through a major historical expansion, factors such as delays led to GE's first quarter shipping out the lowest number of wind turbines in recent time. We will more than double deliveries in the next quarter, vows CEO.

Photo: GE

A single wind turbine. That is the full number increase of shipped wind turbines in GE's first quarter relative to the last year, when the number of machines that left the manufacturer's factories was the lowest in years. When held against the still large order intake of 970 wind turbines during Q1, the delivery of 353 units is proportionally the lowest figure in recent history.

This stands in sharp contrast to the fact that the US conglomerate's domestic market is in the midst of a major historical expansion. For instance, Wood Mackenzie forecasts that around 33 GW will be installed up to the end of 2020, when the final wind turbines with 100 percent PTC tax credit support will be put into operation. Meanwhile, GE attributes its wind division's expected zero margin to the company's plans to execute its many orders in key markets.

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