GE Expects $1B in Annual Turbine Sales in Brazil

GE Expects $1B in Annual Turbine Sales in Brazil

Company will install between 1.5GW and 3GW per year.

  • December 5, 2012
  • Manufacturing Group

As Congress shilly-shallies over a decision on whether or not to renew a tax break for wind manufacturers, the United States largest wind manufacturer is taking its turbines outside the country’s borders.

Connecticut-based General Electric has a deal to provide turbines in Brazil, installing between 1.5GW and 3GW of wind turbines a year, generating about $1 billion annually for the company over the next decade. The company will provide 386MW to the Sao-Paulo-based developer Renova Energia, according to a $394 million deal.

Officials for the company say they expect demand for turbines in the United States to continue to slow, because Congress has not renewed a 2.2-cent-per-kWh tax credit that expires at the end of this year.

Brazil has the world’s fastest-growing wind market. According to the country’s government, it expects wind capacity to rise to 15.6 GW by 2021.

Click here for more information from Bloomberg News.