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GE and Lake Erie Energy Development Corporation Announce Great Lakes Offshore Wind Partnership at AWEA

^{Published on 2010-05-24 03:22:41 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--GE (NYSE: GE) and Lake Erie Energy Development Corporation (LEEDCo) of Northern Ohio announced today a long-term partnership beginning with the development of the first fresh water offshore wind farm in the US and involving a broad range of other initiatives. Under the new partnership GE will provide direct-drive wind turbines to LEEDCoa™s 20 megawatt offshore wind project in the Ohio waters of Lake Erie. The partnership and project is a significant step towards accelerating the deployment of offshore wind in the Great Lakes. The announcement was made at the American Wind Energy Associationa™s annual WINDPOWER Conference in Dallas.

"We look forward to installing our next generation offshore, direct drive wind technology in Lake Erie. GE is committed to working with LEEDCo to achieve its vision of creating an offshore wind sector in Northern Ohio and the Great Lakes region."

aOhio's greatest potential for creating wind energy is offshore in Lake Erie, and this partnership marks a significant step forward,a said Ohio Governor Ted Strickland. aIn Ohio, we have all the right assets to make offshore wind energy successful, including an innovative workforce and the manufacturing strengths that would allow us to build all the component parts for wind turbines. This partnership will not only advance offshore wind technologies, it will also advance Ohioa™s economy. We are eager to continue the statea™s strong collaboration with GE and LEEDCo as we pursue this exciting, first-of-its-kind initiative for Lake Erie.a

The LEEDCo-GE partnership builds on the momentum of a four-year effort by The Great Lakes Energy Development Task Force and other partners in Ohio to establish an offshore wind industry on Lake Erie, leveraging the regiona™s strong manufacturing base.

To kick off the collaboration with LEEDCo, GE has committed to providing offshore wind turbines and maintenance services for an initial 20-megawatt wind farm. Upon its completion, targeted for late 2012, this project would be located off the shores of Lake Erie, near Cleveland, Ohio. This would be followed by subsequent projects with a long-term goal of 1,000 megawatts in the Ohio waters of Lake Erie by 2020.

At the core of the Lake Erie Project is GEa™s next generation wind turbine, a 4-megawatt machine designed specifically for offshore deployment. As the largest wind turbine in GEa™s fleet, it will incorporate direct-drive technology gained through GEa™s acquisition of ScanWind. The 4-megawatt wind turbine will feature GEa™s innovative advanced loads controls and aeroelastically tailored blade technology.

In addition to collaborating on the initial 20-megawatt project, GE and LEEDCo will create a strategic plan to identify opportunities for cost reduction to make offshore wind energy in the Great Lakes economically viable. GE and LEEDCo will also work jointly on advocacy and public policy issues to increase support for offshore wind energy, and accelerate the growth of Americaa™s offshore wind industry.

aOffshore wind has the potential to create thousands of new jobs in Ohio and become a major source of economic growth. Working with LEEDCo we have made significant progress to make offshore wind in Lake Erie a reality,a said Vic Abate, Vice President of GEa™s Renewable Energy business, and also President of AWEAa™s Board of Directors. aWe look forward to installing our next generation offshore, direct drive wind technology in Lake Erie. GE is committed to working with LEEDCo to achieve its vision of creating an offshore wind sector in Northern Ohio and the Great Lakes region.a

aLEEDCo is pleased to be working with GE and we value the equipment efficiency, product innovation, and commercial acumen they bring to the partnership,a said Dr. Lorry Wagner, President of LEEDCo. aTogether, we aim to develop a cost-effective approach for installing and maintaining offshore wind turbines with the highest possible availability. We are confident that as the GE product line develops and our methodologies mature, the combination will promote a self-sustaining and growing market for offshore wind in Lake Erie and the Great Lakes, providing economic opportunity and emissions-free energy for Northern Ohio.a

About GE

GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the worlda™s toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at [ www.ge.com ].

GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With nearly 85,000 global employees and 2009 revenues of $37 billion, GE Energy [ www.ge.com/energy ] is one of the worlda™s leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energya"GE Power & Water, GE Energy Services and GE Oil & Gasa"work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.

About LEEDCo

The Lake Erie Energy Development Corporation (LEEDCo), based in Cleveland, Ohio, is a regional nonprofit economic development corporation, leading efforts to build, install, and deploy an offshore wind farm on Lake Eriewhile spurring economic development in Northern Ohioa™s wind energy industry. Initially, LEEDCo is pursuing the installation of a 20-megawatt facility offshore near downtown Cleveland. This will be followed by subsequent projects with a long-term goal of 1,000 megawatts in the Ohio waters of Lake Erie by 2020, at a price competitive with other forms of electricity generation. LEEDCo stems from the efforts of the Great Lakes Energy Development Task Force, chaired by Cuyahoga County Prosecutor Bill Mason, to explore offshore wind. LEEDCoa™s founding partners include the Cleveland Foundation, the City of Cleveland, Cuyahoga County, Lorain County and NorTech. NorTech Energy Enterprise, an initiative of NorTech, led the effort to launch LEEDCo, which was incorporated in late 2009. [ www.leedco.org ]