TPI Composites Inc. plans to build a 316,000-square-foot wind turbine manufacturing facility in Newton, Iowa.

The plant will produce blades for GE Energy´s 1.5-megawatt wind turbines. The supply agreement with GE Energy preceded the decision to build the new manufacturing facility. The plant will create approximately 500 jobs.

"As the wind industry continues to grow, we face an ever-increasing demand for reliable and efficient wind turbines," said Victor Abate vice president of renewables for GE Energy. "Our commercial relationships with valued suppliers such as TPI are critical to the continuing growth and success of our business."

After installing a record 2,454 megawatts of new wind capacity in 2006, the wind power industry is set to break that mark by installing some 4,000 megawatts this year, according to the American Wind Energy Association.

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