GE wind energy revenue falls 20% in first quarter

Revenue in GE’s energy business dipped 7% to $7.2bn from the year-earlier period. The segment still managed a healthy growth in profit of 12% to $1.3bn.

Within that segment, revenue in GE’s wind business fell the most – 20% in the quarter. Revenue in the thermal energy business was down 14%.

Earlier this week, GE’s head of renewables, Vic Abate, told Congress that the US turbine market “is radically different” from the “boom period of 2006-09”.