GE Energy Announces $1.3 Billion in Wind Turbine Projects
December 17, 2003—GE Energy announced that it has secured contracts and order projections for wind turbine projects in 2004?2005 that are valued at more than $1.3 billion.
In the company's press release, GE Energy's wind energy division CEO Steve Zwolinski says, ?The federal government's recent extension of the renewable energy production tax credit has, again, provided a tremendous impetus for the wind industry in the U.S.?
The tax credit provides $0.018 per kilowatt hour credit for electricity product during the first 20 years of a wind project's operation. This will remain in place through December 2005.
GE's new contracts include projects throughout the U.S. that utilize the company's 1.5-megawatt wind turbines, which are the largest assembled in the country and sold worldwide.
In addition to the U.S. projects, GE Energy announced in October their contract to supply 660 wind turbines for eight projects in Quebec.