GE Renewable Energy reported a loss of $312m in the last quarter of 2021, compared with a loss of $87m in the same quarter in 2020.
The wind turbine manufacturer recorded a loss margin of 7.4% in the fourth quarter of last year compared with a loss margin of 2% in the same quarter of 2020.
Orders were down too, with GE Renewable Energy recording $4.8bn in the fourth quarter of 2021, compared with $6.3bn in the fourth quarter of 2020, driven by production tax credit uncertainty delaying investment in US onshore wind equipment.
Revenues of $4.2bn decreased 6% reported in the fourth quarter of 2021 due in part to lower onshore wind equipment deliveries.
Offshore wind also declined driven by project timing, GE stated, while strong services growth partially offset this.
Key deals for the segment in the quarter included reaching financial close on Dogger Bank C, marking an order for 87 14MW Haliade-X turbines for the UK offshore wind project.
Onshore wind highlights include selection by Windkoepel Groen to repower part of the Windplan Groen project in Flevoland province in the Netherlands and supplying turbines to the 1050MW Pattern Energy Western Spirit wind farm in New Mexico, which began operation as the largest single phase renewable energy project in US earlier this month.