GE Is Betting on the Biggest Offshore Wind Turbine Ever
https://www.fool.com/investing/2019/09/28/ge-is-betting-on-the-biggest-offshore-wind-turbine.aspxSep 28, 2019
...Standing 853 feet tall, with blades that each extend 351 feet, the Haliade-X 12 MW promises to be not only the biggest but also one of the most efficient wind turbines in the world. GE says a single turbine can power 16,000 homes and can operate at a 63% capacity factor, or produce its rated output 63% of the time. That would make it one of the most efficient wind turbines in the world -- well above the approximately 50% capacity factor for most wind turbines and around 20% for solar farms.
One of the advantages the turbine has is that it's designed for offshore markets, where the wind blows more consistently. That allows for higher energy production and lowers the effective cost of electricity from each wind turbine.
The exact cost of turbines isn't being released, but GE says it can generate electricity that's competitive with other power generation sources. And given the traction the product has with developers, they expect it to be cost effective....
...Dominion Energy (NYSE:D), for example, recently announced a plan for 2,600 MW of wind farms off the coast of Virginia by 2026. The company expects 220 wind turbines to be installed, so a 12 MW model is likely what they're expecting to use.
Orsted's 120 MW Skipjack and 1,100 MW Ocean Wind projects off the coast of Maryland and New Jersey will use the Haliade-X. That's a big win in a market niche that GE has only dabbled in up to now....