GE, which overtook Vestas as the world's largest wind turbine manufacturer last year, expects sales in its wind energy business to remain flat this year, the company said in its 2012 financial report.
Although earnings from GE's Power & Water business grew by 8% in 2012, the wind energy sector remains ‘volatile,’ the company said. While the production tax credit's eleventh-hour extension improved the forecast for 2014, it came a little too late to help the company this year.
‘We had a very strong year in 2012, but due to U.S. regulatory uncertainty, this year will be difficult,’ GE's report states. "Based on strong global demand with expanding service, we expect Power & Water growth to resume in 2014.