GE’s renewables business reported a $500m loss in the fourth quarter (Q4) of 2022, compared with a loss of $300m in Q4 2021.
The company’s renewables arm, part of GE Vernova (portfolio of energy businesses), reported an annual loss for 2022 of $2.2bn.
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Revenue in the last quarter of 2022 was $3.4bn, compared with over $4bn in the last quarter of 2021.
Orders fell 17% year-on-year to $14.7bn.
In Q4 GE recorded sales for 487 wind turbines, compared with 842 in the same period in 2021.
During 2022 GE sold 2190 turbines compared with 3590 units in 2021.
Turbine orders for Q4 2022 reached 1011 units, compared to 645 units for 2021.
Over the course of 2022 GE booked turbine orders consisting of 2243 units compared with 2860 during 2021.