www.bloomberg.com
23 Jan 2013
General Electric Co. (GE) plans to win a "double-digit" share of Germany's onshore wind market in two years, taking orders from peers like Siemens AG (SIE) and Nordex SE. (NDX1) GE developed a 2.5 MW turbine for low wind speeds that will help it benefit from surging installations in southern Germany, Stephan Reimelt, chief executive officer of the Energy Germany division, said in an interview in Berlin. GE will present the turbine at a conference in Vienna next month.
"We have the first orders and we're very optimistic that the product will be successful", Reimelt said today. "In Europe, Germany is currently the place where things are happening". GE is "well on track" to achieve its projection of doubling sales in the country by 2015, he said. Germany, Europe's biggest power market, plans to replace nuclear reactors with fossil fuel-fired plants and renewable energy, and build or upgrade 5,700 km (3,500 miles) of power lines. The nation, GE's current focus in Europe, offers a "huge" market for managing energy-related data, Reimelt said.
GE has carried out European acquisitions in the past two years led by the $3.2 billion purchase of Converteam, a French maker of power-conversion products. GE this month announced it would buy Berlin-based energy planning company BLS Energieplan GmbH to strengthen its offerings in the energy industry. Reimelt declined to comment on other possible deals. "It's obvious that the German Mittelstand is highly innovative", he said. "That's interesting to any company with a global focus".
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