GE to invest €340 million in offshore wind power in Europe

General Electric, the global infrastructure, finance and media giant, is planning to invest €340 million for expanding wind turbine manufacturing capacity in Germany, Sweden, Norway and the UK.

New York-based GE plans to develop or expand its wind turbine manufacturing, engineering and service facilities in four European countries signaling its commitment to the European offshore wind sector.

"Offshore wind will play a vital role in meeting the growing global demand for cleaner, renewable energy and has a bright future here in Europe," said Ferdinando (Nani) Beccalli-Falco, president and CEO of GE International.

"These investments will position us to help develop Europe's vast, untapped offshore wind resources, while also creating new jobs for both GE and our suppliers."

The $182-billion-turnover GE will add to its existing presence in Norway with plans to create a new offshore technology development center in Oslo and will expand its advanced demonstration unit production and service facilities in Verdal.

Norway is the planned site for the testing and demonstration of the first 4-megawatt wind turbines offshore. This will result in approximately 100 jobs and a €75 million investment related to its offshore wind business in Norway by 2016.

In Sweden, GE will also expand its current offshore wind facilities by developing a conceptual and systems design center in Karlstad. A technology demonstration unit is planned to be installed in Gothenburg harbor, and GE also will join the Chalmers Wind Energy Center in Gothenburg. This will result in approximately 50 jobs and a €50 million investment related to GE's offshore wind business in Sweden by 2016.

In Germany, GE will put up a new engineering center in Hamburg that will feature product development, application engineering and advanced technology. GE also plans to expand its resources at its existing wind turbine manufacturing facility in Salzbergen, as well as the GE Global Research Center in Munich. This will result in approximately 100 jobs and a €105 million investment related to GE's offshore wind business in Germany by 2016.

GE plans to establish its offshore wind turbine manufacturing in the UK. In addition, GE will locate application and service engineering resources in the country and will bring partners and suppliers of towers, blades, nacelles and other offshore wind components to the manufacturing facility.
 
The plan will result in up to €110 million investment related to GE's offshore wind business in the UK and could ultimately deliver nearly 2,000 jobs by 2020.