GE interested in German offshore wind, eastern Europe

Alstone Textiles (India)

14/04/2016 11:38

* GE completed Alstom offshore wind business purchase in Nov 
    * DolWin3 to serve as reference project 
    * Components can also be exported to other Europe 
 
    FRANKFURT, April 13 (Reuters) - General Electric  GE.N , 
fresh from taking on the offshore wind business of rival Alstom 
 ALSO.PA , is positioning itself in Germany's expanding offshore 
wind sector and looking at eastern Europe. 
    "German offshore wind has become very important for us," 
Carlos Haertel, chief executive for GE Germany & Austria, told 
Reuters in an interview. 
    "Onshore wind in eastern Europe and the Balkan countries is 
currently interesting, especially in Poland and Romania," he 
said. 
    GE, the world's third-biggest wind turbine manufacturer by 
market share after Denmark's Vestas  VWS.CO  and China's 
Goldwind, expects to complete a high-profile offshore wind link 
called DolWin3, which is likely to lead to further ventures. 
    DolWin3 involves converter stations and connecting cable 
systems for a platform operated by grid firm TenneT  IPO-TTH.AS  
which clusters 900 megawatt of wind farms and links them with 
the mainland. 
    Haertel confirmed that completion was expected in 2017. 
    Once Germany's specific problem of long distances between 
turbines and the mainland has been resolved and transmission 
technology shown to be manageable, its ambitious programme to 
build 6.5 gigawatt (GW) of offshore capacity by 2020 can 
roll. urn:newsml:reuters.com:*:nL8N1521XT 
    The country's programme to decarbonise its energy sector 
means there is no longer a market for conventional power 
stations, Haertel said. 
    However, there is rising demand for components and IT to 
produce, transmit and operate power from wind and solar energy 
and integrate it with thermal energy, where GE's wide portfolio 
will come into play, he said. 
    GE completed its purchase in November of Alstom's energy 
business, announced 18 months earlier, and merged it with its 
power and water unit and renamed it GE Power. urn:newsml:reuters.com:*:nL8N12X2X2 
    Renewable energy accounted for $6.3 billion, or 5 percent, 
of GE's sales in 2015, down from $6.4 billion a year earlier. 
    The company derives 14 percent of its total revenues in 
Europe, but does not break them out on a country-by-country 
basis. 
    "Energy is central for us in Germany and accounts for a big 
share of total sales," Haertel said. 
    GE Germany is also active in medical technology, research 
and financial services. 
    Nascent wind industries in eastern Europe, which are due to 
exploit suitable geographies for tapping wind speeds, could 
receive equipment from GE's Germany-based manufacturing sites, 
he said. 
 
 (Reporting by Vera Eckert and Chris Steitz, editing by Susan 
Fenton) 
 ((vera.eckert@thomsonreuters.com; +49 69 7565 1228; Reuters 
Messaging: vera.eckert.thomsonreuters.com@reuters.net)) 
 
Keywords: GE GERMANY