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MarketScreener Homepage  >  Equities  >  Nyse  >  General Electric Company    GE

GENERAL ELECTRIC COMPANY

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General Electric : GE Renewable Energy and Fina Enerji to Build 193 MW Wind Farms in Turkey

05/18/2020 | 04:06am EST
GE Renewable Energy and Fina Enerji to Build 193 MW Wind Farms in Turkey
May 18, 2020
  • GE Renewable Energy has been selected to supply 52 of its 3 MW platform onshore wind turbines for four wind farms in Turkey
  • With a total capacity of 193 MW, the projects will provide renewable energy to the region, powering the equivalent of 195,000 homes and save up to 650,000 tons of CO2
  • The 156 blades will be manufactured at GE's LM Wind Power factory in Bergama, Izmir, Turkey

Istanbul, Turkey, May 18th, 2020 - GE Renewable Energy announced today that it has been selected by Fina Enerji to supply 52 of its 3 MW platform onshore wind turbines for four wind farms in Turkey: Baglama, Tayakadin, Yalova and Pazarkoy. With a total capacity of 193 MW, the wind farms will produce enough clean energy to power the equivalent 195,000 homes, save about 650,000 tons of CO2 and support Turkey's renewable energy target. The scope also includes a 10-year servicing agreement.

GE already has an installed base of 1.2 GW of wind energy in Turkey and has built 500 wind turbines built in the country, including the 350 MW of onshore wind energy projects that Fina Enerji and GE Renewable Energy have built together.

Murat Özyeğin, Chairman of the Board of Fiba Group, the owner of Fina Enerji, said: 'We are excited for our new wind farm projects that will increase our installed capacity from 350 MW to 543 MW. Baglama Project will be the easternmost wind farm investment in Turkey and we are particularly proud to contribute to the economic development in this region. We are pleased to sustain our partnership with GE and to contribute to our country's renewable energy targets.'

GE Renewable Energy will produce the wind turbine blades in its LM Wind Power's Bergama site, Izmir, Turkey, where GE has more than 550 employees. Towers will also be produced in the country.

Manar Al-Moneef, President & CEO, Onshore Wind, Middle East, North Africa & Turkey, said: 'GE has been one of the early investors in Turkey and continue commitment to create jobs and contribute to the development of high technology in the energy industry. We are delighted to be partnering with Fina Enerji Holding again and working on these exciting projects featuring GE's high-tech 3 MW platform turbines, well suited to Turkey's wind speeds and landscape.'

###

About GE Renewable Energy
GE Renewable Energy is a $15 billion business which combines one of the broadest portfolios in the renewable energy industry to provide end-to-end solutions for our customers demanding reliable and affordable green power. Combining onshore and offshore wind, blades, hydro, storage, utility-scale solar, and grid solutions as well as hybrid renewables and digital services offerings, GE Renewable Energy has installed more than 400+ gigawatts of clean renewable energy and equipped more than 90 percent of utilities worldwide with its grid solutions. With nearly 40,000 employees present in more than 80 countries, GE Renewable Energy creates value for customers seeking to power the world with affordable, reliable and sustainable green electrons.
Follow us at www.ge.com/renewableenergy, on www.linkedin.com/company/gerenewableenergy, or on www.twitter.com/GErenewables

For media inquiries, please contact:

Agathe Lefévre de la Houplière
Communications
GE Renewable Energy
+33 7 71 44 89 35
agathe.lefevre-de-la-houpliere@ge.comTAGS:
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GE Renewable Energy and Fina Enerji to Build 193 MW Wind Farms in Turkey

Disclaimer

GE - General Electric Company published this content on 18 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 May 2020 08:05:10 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 79 649 M - -
Net income 2020 3 511 M - -
Net Debt 2020 20 304 M - -
P/E ratio 2020 31,1x
Yield 2020 0,39%
Capitalization 91 103 M 91 103 M -
EV / Sales 2020 1,40x
EV / Sales 2021 1,40x
Nbr of Employees 189 400
Free-Float 74,3%
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