Bloomberg: GE likely to announce $604M Brazil wind-turbine deal

|By:, SA News Editor

General Electric (GE -0.4%) is likely to announce a deal worth up to $604M, to supply wind turbines for Brazilian developer Casa dos Ventos, Bloomberg reports. The deal involves two separate contracts.

For the first contract, Casa dos Ventos is looking to buy $366M of turbines, to replace a previous delivery from Enercon GmbH’s Wobben Windpower, which the latter stated it will not be able to fulfill.

The second deal will be decided within the next two weeks, as Casa dos Ventos determines whether to buy an additional 150MW of turbines worth $238M for a possible wind park acquisition. That contract hinges on a guarantee from GE to deliver the turbines before 2015, when the project needs to be fully operational for the government of Brazil.

By the end of this year, GE will be the top turbine supplier in Brazil, with a 24% market share.