GE's wind business delivers billion-dollar deficit

Even though GE has saved about USD 100 million by canceling two wind turbine deals, other factors push its results downward, while the hyperactivity on the US market is difficult to spot by the number of shipped turbines.
Photo: GE
Photo: GE

The bottom line is the most spectacular part of US wind turbine manufacturer GE's financial results for Q1. The industry conglomerate's renewable energy division – of which wind represents the majority – delivered a deficit of USD 162 million in the period versus a profit of USD 77 million in the same period last year.

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Recent years have mauled global turbine industry, and German Nordex also notes growing deficits. | Foto: Nordex

Nordex deficit doubles in 2022

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