The latest play in the push for more alternative energy; General Electric announced they will provide 88 turbines for three projected wind projects in the Hebei and Shanxi Provinces of China. The new deal positions China to potentially surpass the U.S. as the global leader in wind energy by adding 132 megawatts of wind power capacity to the nation.
Thus far, GE has already arranged to provide 895 units of 1.5 megawatt wind turbines to the world’s most populated country. Over the next decade they plan to add an addition 150 gigawatts of winpower.
General Electric is equally invested in the American alternative energy market. Just a month ago, they acquired a similar $1.4 billion contract with an Oregon wind farm.
GE is capitalizing on alternative energy on both sides of the world, a timely move as President Obama follows through on plans for a $2.3 billion initiative to create 17,000 “green” jobs in U.S.
Afternoon trading saw General Electric stock reach $16.77, up 1 cent, or 0.06 percent.
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