General Electric (NYSE:GE) said they've entered into their largest wind-power deal in Europe, which will have them service installed wind turbines at 8 wind farms located in Spain. The deal will extend over a 10-year period.
The deal is with Spanish wind developer Cobra Energia, whereby General Electric will also provide services for 178 of the wind turbines installed at the wind farms.
Identified as "advance services," General Electric will provide parts, upgrades, troubleshooting and any unplanned maintenance on the turbines. Cobra will do the routine maintenance on the turbines.
All of General Electric 1.5 megawatt wind turbines coming off warranty between 2010 and 2012 will be covered in the deal.
General Electric was trading at $20.19, down $0.01, or 0.05 percent, as of 2:24 PM EST.
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