In an effort to meet the growing global demand for wind turbines, GE Energy, a division of General Electric Co (NYSE: GE) has forged a deal with TPI Composites, a wind turbine blade suppliers.
TPI will build a new 316,000 square foot facility in Newton, Iowa to produce blades for GE’s 1.5-megawatt wind turbines.
Since 2004, GE says it has experienced a 500% increase in wind turbine production, and expects its wind business revenues to exceed $4 billion this year.
TPI Composites has manufacturing sites in Warren, R.I.; Springfield, Ohio; Juarez, Mexico; and Taicang, China. With the Iowa expansion, the company will reach an estimated 1.1M square feet of manufacturing space in 2008.
About GE Energy
GE Energy is one of the world’s leading suppliers of power generation and energy delivery technologies, with 2006 revenue of $19 billion. Based in Atlanta, Georgia, GE Energy works in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels. Numerous GE Energy products are certified under ecomagination, GE’s corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.
About TPI Composites
TPI Composites is a manufacturer of large-scale composite structures for the wind energy, transportation, and military vehicle markets.
www.tpicomposites.com
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