GE Energy gets wind project contracts

ATLANTA, Oct 18, 2004 United Press International

GE Energy in Atlanta said Monday it has secured contracts to supply more than 750 megawatts of wind turbines for 2004-2005 projects in the United States.

The company also said it has received commitments for another 750 megawatts. In total, the orders and commitments are valued at more than $1.3 billion.

"The federal government's recent extension of the Renewable Energy Production Tax Credit (PTC) has, again, provided a tremendous impetus for the wind industry in the U.S.," said Steve Zwolinski, chief executive officer of GE Energy's wind energy division.

"Many leading developers of wind projects now are encouraged to move forward with their plans to significantly increase the country's supply of wind electricity," he added.

The PTC provides a 1.8-cent per kilowatt hour credit (adjusted annually for inflation) for electricity produced during the first 20 years of a wind project's operation.

With the extension, the PTC will remain in place through December of 2005, and is expected to spur a new wave of wind energy installations across the country.

The new contracts announced by GE Energy include projects in Iowa, Minnesota, Idaho, Texas, Oklahoma, Oregon and California. All of the projects will use GE's 1.5-megawatt wind turbines, which are the largest wind turbines assembled in the United States.

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Copyright 2004 by United Press International.