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GE after the bell 10/23/06: industry milestone with 5,000 wind turbines installed

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General Electric Company (NYSE: GE) moved up 6 cents, or 0.17%, to end the day at $35.53. GE has a big industry milestone to announce today, some 5000 1.5 megawatt wind turbines have been installed by the company.

GE's investment in wind power has been a big winner in GE's energy division. It even merited several mention during the last earnings call with its over 200% growth. Though GE doesn't expect it to continue that dramatically, GE is banking on solid demand for windpower to continue. By the end of 2008, GE is saying it expects to have 10,000 1.5 megawatt wind turbines worldwide.

Though, for comparison, a single nuclear plant is capable of putting out thousands of megawatts, and turbines offer megawatts in the hundreds. A city like Austin has almost 3,000 megawatts of power generation on its grid. Therefore, GE has sold enough windpower turbines to run a decent sized city.

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Last updated: November 27, 2009: 11:38 PM

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