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April 4, 2019

GE Renewable Energy to supply turbines for project in Spain

GE Renewable Energy has been chosen to provide its technology for the 324MW Phoenix onshore wind project at Aragón in Spain.

GE Renewable Energy has been chosen to provide its technology for the 324MW Phoenix onshore wind project in the Aragón region of Spain.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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The project will see the creation of ten new wind parks in the region and will be developed by Mirova, ENGIE and Forestalia, using 91 units of GE’s 3MW turbines.

GE Renewable Energy Europe CEO Peter Wells said: “Phoenix marks the continuation of the great work we have done with Forestalia in Goya.

“We are excited for this significant milestone that validates the re-emergence of wind energy in Spain. We will continue building on our local experience to keep powering Aragon and Spain with clean energy.”

“We are excited for this significant milestone that validates the re-emergence of wind energy in Spain.”

GE will manufacture the turbines at its site in Salzbergen, Germany, while the blades will be produced at its LM Wind Power European facilities. The company has also signed a 20-year full-service agreement.

The agreement scope includes offering data-driven insights, expert recommendations, and local advanced field services through GE’s services and monitoring sites across Spain.

GE will begin the installation works immediately at the ten new parks, which will be financed by JP Morgan, Santander and Sabadell.

Phoenix’s wind parks are part of the renewable energy auction that was awarded by the Spanish Ministry of Energy in May 2017.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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