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General Electric and Vestas Wind Systems are reaping the benefits as U.S. utilities assertively add generating capacity from renewable/alternative energy sources, Bloomberg News reported Wednesday.

For example, XCel Energy (NYSE: XEL), the U.S.'s largest provider of wind power, is buying 67 General Electric (NYSE: GE) turbines for a Minnesota wind farm, and GE expects its turbine sales to increase 25% to $6 billion this year, Bloomberg News reported. GE was the largest supplier of wind turbines in 2007, with a 45% market share. Siemens AG (NYSE: SI) and Vestas are two other major global manufacturers of wind turbines that should continue to benefit as wind power usage increases: each is opening manufacturing plants in the U.S. to accommodate increased wind energy-related sales.

GE's shares gained 89 cents to $34.29, while Siemens AG rose 20 cents to $128.20 in Wednesday afternoon trading.

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GE, Siemen AG, Vestas benefiting from growth in wind turbine use originally appeared on BloggingStocks on Wed, 12 Mar 2008 17:25:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>alternative energy sourcesAmerican Wind Energy AssociationelectricityGEGeneral Electricinthenewspower generationrenewable energySISiemens AGturbinesutilitiesutilities sectorVestaswind millswind powerXCel EnergyXELWed, 12 Mar 2008 17:25:00 EST