GE Energy installs more than 2.3 gigawatts of new wind capacity in 2007

GE Energy installs more than 2.3 gigawatts of new wind capacity in 2007

January 17, 2008: 03:01 PM EST

SAN FRANCISCO, Jan. 17, 2008 (Thomson Financial delivered by Newstex) -- General Electric Co.'s GE (NYSE:GE) Energy on Thursday said it stalled more than 2.3 gigawatts of additional wind capacity in 2007, nearly matching the total installed by the entire U.S. wind industry in 2006.

The American Wind Energy Association reported that more than 5 gigawatts of new wind power capacity were installed in the United States in 2007.

'Representing about 30% of new power-producing capacity added in 2007 by the United States, wind power is firmly established as one of the largest sources of new power generation in the nation, and is becoming a mainstream option for meeting the growing electricity demand,' said Victor Abate, vice president of renewables at GE Energy, in a statement.

Worldwide, GE Energy said it expects its 2007 wind business revenue to exceed $4 billion, an eight-fold increase since 2002, the year the company entered the wind business.

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