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GE to Dump Offshore Wind-Power Plans Despite Obama’s Stimulus

Posted by FactReal on September 12, 2011

GatewayPundit reported:
  GE was awarded 44 contracts totaling over $46,000,000 and 44 grants totaling more than $79,000,000 from the Obama-Pelosi $757 billion dollar stimulus package. Millions of dollars in stimulus funds were used by GE in green energy projects.

Today GE announced that it was going to gut its offshore wind-power plans.
Forbes reported:

General Electric, the U.S.-based industrial giant and leading manufacturer of wind-power turbines, is scaling back efforts to expand its presence in the offshore wind power market.

The rationale: there is no meaningful offshore wind market to speak of – at least not yet.

Given slower-than-expected industry growth, the offshore market may not mature as rapidly as many wind boosters once believed.

In 2009, GE moved into the offshore market by acquiring Norway’s ScanWind, a developer of direct-drive turbines, based in the city of Trondheim.

GE is considering laying off about 40 employees in Norway as it scales-back its offshore operations there, according to reports in Recharge. The company has also suspended plans to construct a manufacturing facility in the United Kingdom indefinitely.

G.E. Paid No U.S. Taxes in 2010

One Response to “GE to Dump Offshore Wind-Power Plans Despite Obama’s Stimulus”

  1. Buck said

    The green programs were just cover for Obamas payoff to to Jeffrey Imelt through GE for their total support of Obama through their tv channels NBC and MSNBC and the other media outlets they control . As with all green projects , they are just a farce to rob the people blind through the global warming scam .

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