Monday, May 19, 2003

GE Moves Into Wind Power

Turbine unit likely to generate $1 billion in revenue for 2003

Wind turbine sales represents a $7 billion business globally and should grow to about $20 billion in the next five to 10 years, Swisher said, “The market has been doubling about every three years.”

But the company faces competition, mostly from companies in Europe, where wind power is more widely employed. And well over a dozen U.S. wind turbine manufacturers have come and gone in the past two decades, with many first-generation commercial turbines unable to handle the fatigue of continuous, powerful winds, Swisher said.

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