GE said it expects its onshore wind business to face the worst impact from ongoing inflation challenges of any of its diverse businesses this year, as its GE Renewable Energy arm posted an $800m annual loss for 2021.

The US industrial giant – which is laying plans to split into three companies – said its renewable energy operation is expected to see “low-single-digit revenue growth and improved profitability” this year, thanks to its fast-growing offshore wind business and continuing operational improvements.