First Wind, a Boston-based independent wind energy company, has selected GE (NYSE: GE) as its service provider for the companys entire fleet of 264 GE wind turbines at eight sites across the United States. The eight-year comprehensive service agreement expands upon existing contracts with First Wind, and is the first contract to cover an entire fleet of wind turbines signed by GE to date.
GEs agreement with First Wind will include operations, parts and on-site support including a comprehensive maintenance package. First Wind will benefit from GEs latest high tech offerings, including WindBOOST, designed to increase wind turbine production; Winter Ice Operations Mode, which can allow turbines to recapture production in colder climates; and a full service agreement on wind turbine drive trains with the goal of increasing reliability and performance. GE also will provide an availability guarantee at First Winds wind sites in Maine, Utah and Hawaii. GEs 1.5 megawatt (MW) machine is the most widely deployed wind turbine in the world, with more than 15,000 units installed globally.
GE is focused on improving the performance of our installed base of 1.5 MW turbines. We believe this long term service agreement with GE will help us to optimize annual energy production and reduce the overall cost of electricity, both key factors for success in todays challenging wind energy industry, said Michael Alvarez, president and chief financial officer of First Wind. The agreement with GE ensures the availability and reliability of our wind turbines, and the drive train maintenance package will provide us with long term asset management coverage.
GEs wind service solutions are supported by the companys advanced technology, global resources and service facilities, and a network of skilled, highly trained local technicians who are closely connected to GEs engineering organization. GE service agreements also give customers access to GEs suite of turbine upgrades that are based on new product evolutions and the in-depth product knowledge that only an OEM can provide.
As our historic agreement with First Wind clearly illustrates, there is a growing demand across the wind industry for flexible service solutions that enable wind projects to perform at optimal levels of efficiency and availability, said Diarmaid Mulholland, general manager of wind services for GE Power & Water. Our comprehensive portfolio of wind services has been specifically designed to meet those critical needs of our customers.
GE (NYSE: GE) is an advanced technology, services and finance company taking on the worlds toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
GE also serves the energy sector by providing technology and service solutions that are based on a commitment to quality and innovation. The company continues to invest in new technology solutions and grow through strategic acquisitions to strengthen its local presence and better serve customers around the world. The businesses that comprise GE EnergyGE Power & Water, GE Energy Services and GE Oil & Gaswork together with more than 90,000 global employees and 2010 revenues of $38 billion, to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; as well as other alternative fuels and new grid modernization technologies to meet 21st century energy needs.