So GE is determined to come out with a battery system that will store energy, but the investment costs are enormous as it needs to develop a massive storage system for a huge global customer base, says Wlliam Schmitz, president and CEO of WindTamer (WNDT), a maker of windpower generators utilizing proprietary technology for elecrtric generation and energy management.
GE, which manufactures gas turbines for power generation, wind turbines and a variety of products for energy production, distribution and management is benefiting from this rising demand.
Nigel Hart of hedge fund Reach Capital Management bought shares of French power utility Alstom following its announcement that it would acquire Spanish wind company Ecotecnia.