General Electric Co. received a contract valued at about $650 million to provide 333 wind turbines to Noble Environmental Power for new projects and expansions in New York and Texas.
The agreement is the fourth wind turbine supply contract that GE and Noble have signed over the past three years, Fairfield, Connecticut-based GE said last week in a statement.
U.S. wind-power developers will install a record 4,000 megawatts of turbines this year, according to the Washington- based American Wind Energy Association. Demand has surged as utilities seek to meet requirements for increased production of renewable energy in two dozen states.
General Electric, the world’s biggest maker of power- generation equipment, has sold almost all of its capacity for wind turbines and other renewable energy projects through mid- to late-2009, Vic Abate, vice president for renewable energy, said on Nov. 26. Wind turbine sales will be about $4.3 billion this year and increase 25 percent in 2008.
Noble Environmental Power, based in Essex, Conn., is owned by JP Morgan Partners and other investors. Noble plans to use the turbines for wind parks in New York and Texas in 2009. •
