GE expects U$130bn increase in global wind turbine sales over next two years

General Electric Co (GE) has said that it expects industry-wide sales of land-based wind turbines to amount to US$130bn in the next two years.

According to Victor Abate, who is in charge of the company’s renewable energy unit, the growth is expected to be concentrated in Canada and Latin America, with CAGRs of 40 and 70 per cent, respectively. He also said that the market in Eastern Europe may grow by 28 per cent, with China and India both potentially seeing a 20 per cent rise in turbine sales.

Mr Abate also said that he expects industry-wide sales of off-shore wind turbines to rise to US$100bn over the next 10 years.

Since GE entered the wind-turbine business by buying Enron Corps unit in 2002, it has invested US$1bn in improving the reliability of its designs and sales for the unit rose to US$6bn in 2009 (Bloomberg).