GE Sees More Revenue, Less Profit from Renewables
GE Renewable Energy marked an 11 percent decrease in profit for the three months ended June 30, 2016, compared to the same period a year earlier, despite significant improvements in revenue.
The profit for the second quarter stood at USD 128 million, as opposed to USD 144 million recorded in the second quarter of 2015.
GE Renewable Energy increased its revenue by 28 percent for the period, from USD 1.64 billion in 2Q 2015, to USD 2.09 billion in 2Q 2016, which includes USD 200 million revenue from Alstom. The increase in revenue was driven by higher wind turbine shipments and mix shift to turbine units with larger capacity, the company said.
The renewable energy unit added 1.4 GW of new orders in the period, 65% of which were new products. GE Renewable Energy received orders for 637 wind turbines in the quarter, 251 less than 888 units sold in the same period in 2015.
The unit sold 856 wind turbines in 2Q 2016, 50 more compared to the same period a year earlier.
List of related news articles
-
Posted: 2 months ago
GE Haliade-X Breaks 300 MWh Daily Output Ceiling
The prototype GE Haliade-X offshore wind turbine has produced 312 MWh of electricity in a single 24-...
Posted: 2 months ago -
Posted: 2 months ago
Ørsted’s Offshore Revenue, EBITDA Dip in Q3
Danish energy company Ørsted has reported DKK 2.629 billion operating profit (EBITDA) in the Offshor...
Posted: 2 months ago -
Posted: 3 months ago
Rystad Energy: Less Is More if Using 14 MW Turbines
A recent analysis from Rystad Energy has shown that using 14 MW wind turbines can reduce overall cos...
Posted: 3 months ago -
Posted: about 1 month ago
14 MW GE Haliade-X for Third Phase of World’s Largest Offshore Wind Farm
GE Renewable Energy has secured a preferred turbine supplier contract to provide its 14 MW Haliade-X...
Posted: about 1 month ago