GE Energy (NYSE: GE) announced it has secured its second contract over $1 billion in recent months with Invenergy Wind LLC to provide wind turbines for new North American projects.
Under the agreement announced today, GE will supply Chicago-based Invenergy with 750 megawatts (MW) of wind turbines, enough power to meet the requirements of more than 200,000 households, for projects to be constructed in 2010.
In January, GE announced a similar agreement of more than $1 billion to provide wind turbines to Invenergy for U.S. and European projects to be built in 2009.
These agreements are among the largest commitments for wind turbines to be delivered in a single year in the history of the global wind industry.
"As these agreements demonstrate, the demand for wind energy continues to grow at a record pace," said Victor Abate, Vice President-Renewables for GE Energy.
Over the past two years, GE has provided nearly half of the new wind turbines for U.S. projects, reinforcing its position as North America’s leading supplier of wind turbines. Since 2004, GE said it has achieved a 500% increase in wind turbine production, and its wind business revenues exceeded $4 billion in 2007.
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