GE invests USD 50m in new onshore wind assembly line in New York

General Electric’s (NYSE:GE) roster of energy businesses dubbed GE Vernova announced on Tuesday that it is investing USD 50 million (EUR 46.4m) in a new manufacturing assembly line in New York for its onshore wind operations.

GE Vernova said it will establish the new production line by summer 2023 in Schenectady in the building where it continues to manufacture steam turbines and generators.

At the new site, the company will be assembling three key components for its 6.1-158 onshore wind turbine – the machine head, hub, and drive train. The first set of components is expected to be produced by early autumn. To date, GE Vernova has received almost 10 GW of orders and amassed over 4 million operating hours globally for this particular turbine platform.

The project will create about 200 new full-time positions for union operators, manufacturing engineers, and front-line leadership. The company noted that last year’s passing of the Inflation Reduction Act (IRA) has played an important role in today’s announcement.

GE Vernova bundles General Electric’s Renewable Energy, Power, Digital, and Energy Financial Services businesses. This portfolio is planned for a tax-free, investment-grade spin-off in early 2024.

(USD 1.0 = EUR 0.927)

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