GE invests $450 million in European offshore wind projects
03/26/2010
Image credit: GE
GE has announced plans to invest $450 million over the next 10 years for wind turbine manufacturing, research/development and service facilities in England, Germany, Norway and Sweden. The Norway facility will be involved in testing GE's new 4 megawatt offshore wind turbines which utilize a new drive train technology that does not require gearboxes. The technology was developed by Norway based ScanWind, which GE acquired in 2009. With the European Wind Energy Association predicting more than 70% growth in offshore wind generation in Europe during 2010, investing in European projects is desirable to most alternative energy companies.
