GE to deliver wind turbines for $400M

[OKIsItJustMe]

http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-19950862.htm

GE to deliver wind turbines for $400M

October 01, 2007: 02:23 PM EST

Oct. 1, 2007 (Thomson Financial delivered by Newstex) --

ATLANTA (AP) - Industrial conglomerate General Electric Co. said Monday its GE (NYSE:GE) Energy unit will supply SkyPower Corp. with wind turbines to be installed in North America in a deal valued at about $400 million.

SkyPower, a Canadian wind power company affiliated with Lehman Brothers (NYSE:LEH) , will receive 200 of GE Power's 1.5-megawatt machines, which will be able to produce electricity for more than 100,000 homes. The turbines are slated for delivery in 2009 and will be installed in the U.S. and Canada.

GE shares rose 66 cents to $42.06 in afternoon trading and earlier reached a 52-week high at $42.09.

[TheWraith]

1. 300 megawatts capacity, at an average 30% load, means 72 gigawatt-hours per month production.

That's actually more like enough power for 65k homes, not 100. Somebody's exaggerating a little.

[cutlassmama]

2. Is that much less than electricity?

[progressoid]

3. I was just at a 132 turbine wind farm in N.W Iowa (with GE built nacelles).

Should be completed in a few months.

They are popping up all over. They'll only make a small dent in out electricity demands but it's a start. It's going to take a lot more than this to fix our problems.