GE strikes $2bn wind turbine deal

Check GE's share price

US conglomerate General Electric (GE) has struck a deal to sell $2bn worth of wind turbines for use in Texas.

Mesa Power is planning what it says will be the world's largest single-site wind power development, producing enough power for 300,000 US homes.

GE will deliver the 667 1.5-megawatt turbines in 2010 and 2011.

Separately, reports suggest that GE is set to sell off its century-old appliances business - which has made the firm a household name in the US.

However, the division made only a small slice of the group's $172.7bn (£88.8bn) 2007 sales.

The firm, the world's second largest by market capitalisation, has hired Goldman Sachs to conduct an auction, the Wall Street Journal reported.

GE, which is under pressure to hive off some of its businesses, did not comment.

The sale could generate between $5bn and $8bn, the newspaper said.

Economic impact

In addition to offering commercial and consumer financial products, GE produces jet engines, water treatment plants, medical equipment and also controls media company NBC Universal.

Last month, GE said group profit for the first three months of 2008 would be 6% lower at $4.3bn (£2.2bn), with profits at GE Money down 19% and the industrial division's profits 16% lower.

The disappointing performance of the industrial division, which makes lighting products and electrical appliances, was seen as an indication that problems in the financial markets were spilling over into the wider economy.

Last year GE made $11.6bn by selling off its plastics business.