GE is betting on its new 4-megawatt wind turbine
General Electric announced plans today to invest €340 million ($453 million) to develop and expand its wind turbine operations in the United Kingdom, Norway, Sweden and Germany in its biggest bet to date on offshore wind in Europe.
The core of the plan is a €110 million investment for a new offshore turbine manufacturing plant in the U.K. aimed at tapping the government’s multibillion sterling offshore wind plan.
Victor Abate, vice president of renewable energy for GE Power & Water, said:
These announcements lay the foundation for us to begin scaling our offshore business, technology and supply chain locally in Europe where we see the greatest growth opportunity.
The investments will be made by 2016 in anticipation of huge growth in the offshore wind sector. European Union countries are trying to reach a goal of 20 percent of energy coming from renewable resources by 2020.
The move is also a bet on GE’s new 4-megawatt wind turbine, designed with technology from 2009 acquisition ScanWind of Norway.
The turbines will be tested in Norway, where GE will create a new Offshore Technology Development Center in Oslo and expand its advanced demonstration unit production and service facilities. The move will bring a €75 million investment.
In Sweden, GE will also expand its offshore testing facilities with a demonstration unit in Gothenburg Harbor. GE will also join the Chalmers Wind Energy Center in Gothenberg resulting in a €50 million investment.
GE plans to invest €105 in a new engineering center in Hamburg, Germany along with an expansion of its turbine manufacturing facility in Salzbergen and the Global Research Center in Munich.
Finally, GE plans to put application and service engineering facilities in the U.K. and will bring its partners and suppliers to the manufacturing facility, making the country a turbine manufacturing hub for Europe.