GE’s profit from its renewables unit was down 11% at $128m in the second quarter of the year, compared with $144m in the same period last year.
Renewables contributed 6.8% to company’s overall profit in the period, a fall of 2 percentage points from 8.8% last year.
However, profit is up from renewables for the year-to-date, standing at $211m after the first six months of 2016 compared with $201m last year.
Revenue from renewables rose 28% to $2.094bn in the three months to 30 June, up from $1.641bn in the second quarter of 2015. The figure includes $221m from the Alstom unit.
Revenue were driven by higher wind turbine shipments and a shift to larger units, GE said.
It sold 856 wind turbines in the second quarter of 2016 – a total of 1.4GW of which 65% was new products – compared with 806 in same period last year, the company said.
Revenue for the year stood at $3.763bn, up 41% on the $2.699bn in the first half of last year.
The sales bring the year-to-date total to 1472 turbines, up from 1278 in first half of last year, GE said.
Orders were down to 637 in the last quarter from 888 in the second quarter of 2015, but year-to-date orders were 1348 up from 1264 last year.
Image: GE
