GE Unveils Wind-Power Projects in Michigan, Iowa

Date : 06/04/2012 @ 4:03PM
Source : Dow Jones News
Stock : General Electric Company (GE)
Quote : 25.91  0.0 (0.00%) @ 4:00AM

GE Unveils Wind-Power Projects in Michigan, Iowa

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     By Tess Stynes 
 

General Electric Co. (GE) unveiled plans to supply wind turbines for alternative-energy projects in Michigan and Iowa, including the sale of 137 of its largest-capacity wind turbines operating in North America.

DTE Energy Co. (DTE) expects to spend $500 million for 137 of GE's 1.6-100 units for several wind projects, part of the Detroit electric and gas utility's efforts to increase its sources of alternative energy. The wind turbines have a total capacity of about 220 megawatts.

GE said it has received commitments over the past several months for the 1.6-100 turbines with a combined capacity of about 1.8 gigawatts. That represents about half of the total capacity covered in agreements--with a total estimated value of $3.6 billion--since the technology was introduced about a year ago.

In Iowa, a community wind initiative is purchasing six wind turbines from GE, which will be added to two current units, resulting in a 12.6-megawatt wind project across several communities.

Write to Tess Stynes at Tess.Stynes@dowjones.com

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