General Electric Co. (NYSE:GE) will provide its wind turbine technology in setting up yet another EU wind farm, which is being set-up by Swedish energy developer Triventus Wind Power AB near Falkenburg on Sweden’s west coast.  The farm shall have an installed capacity of 27.5 MW, through 10 GE 2.75-103 wind turbines, enough to power the equivalent of 7,500 Swedish houses.
GE is to supply the wind turbines during the first half of 2013 and farm is to begin commercial production by second quarter of 2013. GE shall also provide maintenance support to the turbines during a five-year service period. Wind turbines and related technology are part of the Energy Infrastructure business of the company, and constitute nearly 25% of the Trefis stock price estimate for GE along with other renewable energy systems and services.
We currently have a price estimate of $20 for GE, which is marginally lower than its current stock market price.
GE’s other wind turbine installations in Sweden
The project is a third one for GE in the country. In 2011, GE finalized to provide Stena Renewable Wind Energy Company with 40 of GE’s 2.5-100 units for wind farms in southern Sweden. And also in 2011, GE supplied its 4.1-113 wind turbines to set up an offshore wind farm in Gothenburg harbor.
The EU wind-energy market opportunity
The project expands GE’s presence in the growing European wind energy industry, which has had an average annual growth rate of 15.6% over the last 17 years.  The current installed wind power capacity in EU stands at nearly 94 GW, and this is anticipated to grow to 180 GW by 2020 and 300 GW by 2030.  
This transforms into a high growth potential opportunity for GE’s Energy business division, however, the company competes with other major international wind turbine manufacturers and technology providers such as Vestas, Sinovel, Enercon, Siemens and Suzlon, for the growing EU market.Notes:
- GE’s 2.75-Megawatt Wind Turbine Technology to Power New Wind Farm on Sweden’s West Coast, Junly 2nd 2012, www.genewscenter.com [↩]
- Wind power in the European Union, www.wikipedia.org [↩]
- Wind Energy: A vision for Europe in 2030, www.windplatform.eu [↩]
- Wind in Power: 2011 european statistics, www.ewea.org [↩]