US industrial conglomerate GE expects that its loss-making renewable energy division and fast-growing offshore wind business will both become profitable by 2024, while becoming more cost-efficient to win big in the global onshore wind market.

“This is a business that will generate substantial cash flow for us for a very long time,” Scott Strazik, CEO of GE’s global energy business portfolio, told an investor conference on Thursday, referring to wind.

GE estimates the world will add one terawatt (TW) of wind generating capacity through 2031.