Fairfield’s General Electric Co. is considering abandoning an offshore wind power turbine project in Norway, Reuters reports, citing a Norwegian newspaper.
GE had originally planned to invest 600 million crowns ($111.4 million) in the flagship project, launched in March last year, after acquiring the small Norwegian wind turbine firm ScanWind.
Norway’s trade minister Trond Giske was among the project’s most vigorous supporters.
“The offshore wind power market has not developed as we had expected,” GE Energy’s Nordic subsidiary spokesman Eystein Aspesletten told daily Dagens Naeringsliv.
He also said hydro-power rich Norway had little to offer in terms of a home market for offshore wind, according to the report.
Around 40 employees in Norway and Sweden could be affected if the project is cut.
