GE expects its loss-making renewable energy business to noticeably improve operational performance this year but not break even until 2021, led by already-profitable onshore wind and turbine blade manufacturing, and a “burgeoning” offshore wind operation that will become the unit's biggest growth driver.

Grid and hydro, which account for one-third of GE Renewable Energy's $15.3bn in revenue, and is its weakest performer, will also see smaller deficits and become less of a cash drain.