Airtricity in $330M turbine deal with GE Energy

Dublin's Airtricity announced today it signed a deal to buy 250 megawatts worth of turbines from GE Energy, a unit of General Electric (NYSE: GE).

Airtricity said the $330 million agreement covers GE 1.5 MW turbines for the company's North American markets in Texas, the Midwest and Northeast.

"Airtricity is playing a leading role in helping North America meet its fast-growing energy needs, and this deal reiterates our commitment to the North American market," said Airtricity North America CEO Declan Flanagan.

The turbines are expected to be delivered in 2009.

Flanagan said today's deal follows the company's strategy of securing turbines well in advance of project commencement.

"GE Energy is committed to helping our worldwide partners and customers design and implement wind energy solutions for their cleaner energy needs. We are extremely pleased that Airtricity, an industry leader and valued partner, continues to show confidence in our 1.5 MW wind turbine technology," said Vic Abate, VP of Renewables for GE Energy.

Airtricity has 15 wind farms in operation in the Republic of Ireland, Northern Ireland, Scotland and the U.S., a total of approximately 500 MW.

The company has another 9 wind farms under construction, totaling almost 600 MW, with a global pipeline of almost 17,000 MW.

Airtricity said its North America division, headquartered in Chicago, has completed construction of 124 MW with a further 460 MW under construction and 700 MW in final stage development backed by firm orders for turbines for delivery in 2008 through early 2009.

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