GE expects slight contraction in US onshore wind market, sees growth in offshore

摘要

General Electric Co. executives said April 27 that they expect the US onshore wind market to contract slightly in 2021 as the company targets foreign markets for wind and gas turbines following a 3% spike in global electricity demand during the first quarter. In September 2020, GE announced it would stop building new coal plant equipment to focus its power business on gas, nuclear and renewable energy. The push is a part of the company's read on the energy transition, which, executives anticipate, will include a strong role for gas power as coal is driven out of the global power mix by market and political forces. GE management did not specify how much they expect the US onshore wind market to contract, but addressing the investment community on the company's first-quarter earnings call, said the company intends to maintain a strong foothold domestically. GE expects "robust growth" in the sector to continue outside the US, Carolina Dybeck Happe, senior vice president and CFO, said.