August 09, 2006

US: GE Has Wind At Its Back Due To Alternative-Energy Demand

Tuesday August 8th, 2006 / 17h43

By Frank Byrt Of DOW JONES NEWSWIRES General Electric Co. (GE) is finding big profits just blowing in the wind.
With oil now in the area of $77 a barrel and electric power demands setting new records in the Northeast, more power companies are eager to add wind-generated electricity as an energy source. However, they are likely to find it may be years before they'll be able to get a system in place.
GE has forecast roughly 20% growth in wind turbine shipments, resulting in 30% growth in revenue in 2007, along with a $200 million improvement in operating profit.