GE says wind business could 'run hot' ahead of PTC expiry

GE chief executive Jeff Immelt

GE chief executive Jeff Immelt

General Electric chief executive Jeff Immelt says the wind business "could run hot" this year ahead of the end of the production tax credit in the US.

Citing the company's product offering, market share and "a ton of activity there right now", Immelt struck a bullish tone, but also expressed some uncertainty.

"Wind is just a wild card given how much volume could actually take place in 2012, just based on the strength of the market," Immelt says, discussing the business' impact on profit margins during GE's first-quarter conference call.

The company took in new orders for 696 wind turbines in the first quarter, up 113% from the year-earlier period. Orders in GE's renewables business were Log in to read complete article.

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