Green Chip Stocks

GE Wind Turbine Investing

GE Lands Largest Turbine Maintenance Agreement in Europe

By Sam Schrader   

GE (NYSE: GE) recently announced that a consortium including Spanish energy services company Tamoin Energías Renovables just signed the largest single GE wind turbine maintenance agreement in all of Europe with Iberdola Renovables SA of Madrid. This contract would cover servicing 310 GE turbines in Spain.

While the agreement is for three years, there’s an option to extend the option an additional two years. GE will also act as the technology partner in the aforementioned consortium to provide high availability and quality service to the installed GE turbine fleet by supplying parts, specialized labor and technological support while Tamoin supplies the skilled labor aspect. The maintenance will cover the following wind farms: Cuesta Colorada, Cerro Calderón, Cerro Palo, Muela 1, Maza, Calleja, Isabela and Sierra Quemada y Gavilanes.

“Our goal, in collaboration with our partner Tamoin, is to provide Iberdrola with the highest level of service to help optimize operations while maximizing production,” said GE’s European wind services leader Ramon Paramio. So far, the GE-Tamoin consortium has been a success, providing services to Iberdrola wind farms in Germany and Poland in addition to GE’s supplying of equipment and services to Iberdrola.

Enjoy this article? Get more in our Free Newsletter

Jeff Siegel on CNBC
Green Chip Stocks Editor Jeff Siegel, featured guest on CNBC's Green Week

Your Privacy is Assured.

Get the inside track on the most lucrative stock plays in today's scorching-hot alternative and renewable energy markets.

Sign up for the FREE Energy and Capital daily e-Letter from alternative energy experts Jeff Siegel and Nick Hodge. We'll also send you our latest report on Wind Investing straight to your inbox.

Please Enter Your E-mail:




Related Articles

Offshore Wind Demand Rises
Offshore wind energy could be the future for the European Union.

Poland Wind Energy Investing
Poland expands its wind energy capacity.

Wind Energy Investment Update
UK wind power is creating thousands of jobs.