GE to invest $450 million in European offshore wind

• 14 years ago (2010-03-27)
• David Flin

Europe 1068 Renewables 757

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GE has announced that it will invest €340 million ($450 million) in offshore wind technology in Europe until 2020. Around €110 million will be invested in British turbine manufacturing, and €105 million in engineering and production facilities in Germany, with a target of mass producing GE’s new 4MW offshore wind turbine as early as 2012.

Victor Abate, Vice President of Renewables at GE Energy, said: “Most of the offshore wind projects will be in 2012 to 2015, so you will see mass production within that timeframe. Abate said he expected sales of hundreds of turbines per year until 2020, with most of the sales and manufacturing in Britain and Germany.

GE also said Britain’s budget announcements on a £60 million offshore wind infrastructure port development competition was key to the company’s investment decision.

The rest of the investment comprises €75 million in Norway for testing wind turbines and €50 million in Sweden on a design facility.