GE sold $12 bil of wind turbines that it doesn't have

Adding to the financial difficulties of General Electric, whose stock dropped 15% last week on poorer-than-expected revenues, apparently they're having a heck of a time actually delivering the turbines they sell. The turbines aren't technically late, but as the waiting lists get longer and longer, wind projects might be postponed as folks wait to see who can deliver first.

Wind turbines are not a simple thing to construct, and as technology (and subsidies) have advanced, wind power has suddenly become a very attractive option for a lot of utilities. This is, of course, fantastic for the environment. But much-increased demand combined with no simple way to produce more has resulted in a big lot of deep pockets waiting in long waits for their turbines.

Looks like GE is going to have to start holding back on taking orders as the waiting list grows. It's apparently a lower margin business than GE is used to, but that doesn't mean the company is getting out of it any time soon. GE's wind turbine business has grown 40% in the last year. This quarter, it delivered 569 wind turbines to buyers, mostly in Europe.

So far, wind power is the only renewable energy source that can (in certain areas) actually be cheaper than fossil fuels. So let's keep hoping GE and its competitors, who have also been having trouble keeping up with demand, can ramp up production soon.

Via CNet