This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

World’s Most Efficient Wind Turbine To Make European Debut At 50-Megawatt Fina Enerji Project In Turkey

GE (NYSE: GE) will supply 31 of its 1.6-100 wind turbines for Fina Enerji’s Tayakadin wind project in Istanbul, Turkey, which will supply enough clean, wind-generated electricity to meet the needs of more than 14,000 Turkish households. GE announced this order at the European Wind Energy Association’s EWEA 2012 in Copenhagen. The project will mark the first European installation of the GE 1.6-100 machine, which offers the highest efficiency of any wind turbine in its class.

The 50-megawatt Tayakadin project supports the Turkish government’s plans to increase the country’s wind energy production to 20,000 megawatts by the year 2023. Turkey has one of the most favorable locations in Europe for wind energy development, with a potential wind generation capacity of about 48,000 megawatts. Much of that potential remains untapped, as the country’s existing wind farms produce about 1,800 megawatts.

“GE’s 1.6-100 technology builds on the broad experience of our 1.5 and 2.5 megawatt series, with more than 17,500 of those units installed today,” said Stephan Ritter, general manager of GE’s Renewable Energy business in Europe. “Featuring a 100-meter rotor diameter and 80-meter hub height, the 1.6-100 provides the highest capacity factor of any wind turbine for class 3 sites.”

Fina Enerji currently has 35 units of GE 2.5-100 wind turbines in operation at two wind power plant sites in Izmir and Hatay provinces for a total capacity of 87.5 megawatts. Tayakadin, near the booming city of Istanbul, is the third site where Fina Enerji will employ GE wind turbines.

A globally proven technology, GE anticipates installing more than 1,200 of these units in the United States within the next two years.

In addition to the wind turbines, GE will supply commissioning and technical advisory services for the Tayakadin project. Fina will do the installation and civil works of the project. The wind turbines will be shipped from GE’s Salzbergen, Germany facility by the end of 2012, with completion of the project expected by the first quarter of 2013.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs