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GE Energy to Supply SkyPower with 200 Wind Turbines

Through an agreement valued at approximately $400 million, GE Energy will provide SkyPower Corp, a company affiliated with Lehman Brothers and one of Canada's leading wind energy developers, with 200 wind turbines for projects across Canada and the United States. Slated for delivery in 2009, the 1.5-megawatt GE machines will have the capacity to produce a total of 300 megawatts of wind-generated electricity, enough to meet the needs of more than 100,000 households.

Canada is now among the world's fastest growing wind power markets and could be in the top five by 2009, according to a recent study from Emerging Energy Research of Cambridge, MA. In 2006, Canada doubled its installed wind energy capacity to 1,588 megawatts and now ranks 12th in the world, reports the Canadian Wind Energy Association (CanWEA).

"Canada is becoming a leader in the global movement to rapidly implement renewable energy solutions such as wind power," said Victor Abate, Vice President-Renewables for GE Energy. "We are pleased that our 1.5-megawatt wind turbine technology, proven in a wide variety of terrain and climate environments worldwide, has been selected by SkyPower to help further develop Canada's wind power potential."

Since 2004, GE has received commitments to supply more than 1,000 of its 1.5-megawatt wind turbines for projects across Canada. Overall, GE has shipped more than 6,500 of the machines for projects around the globe and is the largest wind turbine manufacturer in the North America.

"The soaring interest in wind power has placed a tremendous demand on wind turbine suppliers worldwide," said Kerry Adler, Chief Executive Officer of SkyPower. "This agreement with GE puts us in an excellent position to meet our project requirements over the next several years."

GE Energy also announced today that it is the recipient of the 2007 Frost & Sullivan North American Wind Power Growth Strategy Award for its "unmatched leadership in manufacturing large-scale wind turbines in North America."

Wind energy is estimated to have reduced global emissions of carbon dioxide by 90 megatons in 2006. In Canada, it is estimated that every 1,000 megawatts of installed wind energy capacity will reduce annual emissions of carbon dioxide by a minimum of 1.2 million tons, according to CanWEA.

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