GE Inks Another Wind Deal in Europe
Green Chip Stocks
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.
GE Lands Largest Turbine Maintenance Agreement in Europe originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.
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