* GE reaffirms its plan to invest £100 million in the UK's offshore wind sector
* Move will create more than 1,900 new clean energy jobs in the UK
London, United Kingdom, October 25, 2010: GE (NYSE:GE) today reaffirmed its plan to invest £100 million to develop offshore wind turbine manufacturing facilities and locate design, application and service engineering resources in the United Kingdom. GE's action follows last week's announcement by the British government that funds for improving the UK's port infrastructure will be made available. This move, which is subject to the deployment of the funds, could create as many as 1,900 new clean energy jobs in the UK by 2020 - both GE jobs and those created in the associated supply chain with manufacturers of towers, blades, nacelles and other offshore wind technology all locating to the site.
"We are very pleased that the UK government has recognized the need to invest in ensuring that its port infrastructure can support the manufacturing of next generation wind turbines," said Jeff Immelt, Chairman and CEO of GE, following a meeting with British Prime Minister, the Rt Hon David Cameron MP at Downing Street.
"The UK has ample offshore wind resources that can provide clean energy for the UK as well as providing new, high-skill jobs for both GE and our suppliers in the UK. GE is ready to invest in the UK and hire the engineers, technologists and other skilled workers needed to make this a reality.
"We welcome the Prime Minister's plans to support port infrastructure, and reinforce the importance of the government continuing to create long-term certainty for offshore wind manufacturers and developers by committing to a sustainable financial structure. "The UK government continues to demonstrate strong leadership in renewable energy and the jobs it can create."
In welcoming GE's announcement, the Prime Minister said, "I want us to be a world leader in offshore wind energy. We are making these investments so that major manufacturers will decide that this is the place they want to come and build their offshore wind turbines. This investment is good for jobs and growth, and good for ensuring we have clean energy in the future and so I am delighted that GE has decided to bring their manufacturing to the UK."
At the core of GE's European expansion plans is the development of GE's next generation wind turbine, a 4-megawatt machine specifically designed for offshore deployment. As the largest wind turbine in GE's fleet, it will incorporate advanced drive train and control technologies gained through GE's acquisition of ScanWind. The 4-megawatt wind turbine will feature GE's innovative technology that eliminates the need for gearboxes. GE's UK manufacturing facility would produce the new 4-megawatt offshore wind turbine and future generations of GE's offshore technology. This technology is already being demonstrated at a test site in Hundhammerfjellet, Norway where the first ScanWind direct drive unit was installed in 2005.
Mark Maguire
GE
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+44 20 7302 6068
+44 7717 517071
Sara Cruz
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0207-534-0623