General Electric (NYSE: GE) has announced that it will be investing $100 million into expanding its wind power activity in the country of Norway, a move which will create 100 new jobs for the country.
According to the Norway Post, General Electric plans on establishing a new Oslo-based offshore technology development center to compliment its turbine demonstration units in Verdal, which are set to increase in production.
“GE’s announcement is very good news for Norway,” said Minister of Petroleum and Energy Terje Riis-Johansen. “GE’s decision illustrates that we are an attractive country for investments with world-class offshore competence. I am pleased that Norway is a country where the industry and authorities can work together in developing the Norwegian wind industry.”
Trond Giske, the Norwegian Minister of Trade and Industry, also welcomed the announcement, adding “Offshore wind is a market which is set to grow substantially over the coming years, and this opens up new possibilities for Norwegian industries. Norway has a know-how base which is unique within the offshore and maritime sectors and this competence has considerable relevance for the development within offshore wind. We welcome GE’s decision to invest in Norway, and I believe this will strengthen Norwegian industries in the competition for contracts internationally.”
