GE Renewable Energy Extends Supply Contract with Rotor Blade Manufacturer

In announcing the quarterly results, Bill Siwek, President and CEO of TPI Composites, also announced that his company has extended two supply contracts with GE. The turbine manufacturer will use the Iowa production facilities until 2021 with an option to extend to 2022 and in Juarez, Mexico until 2022. The contract includes the addition of a further production line in Mexico to supply GE's North American facilities.

A multi-year contract was also signed with German turbine manufacturer Nordex for two production lines at the production facility in Chennai, India. These new production lines and contract extensions have resulted in a potential order value of around USD 800 million.

“As of today, all of our manufacturing facilities have returned to pre-COVID-19 capacity levels.  We believe this positions us well for a strong second half of the year given the strong demand we are seeing from our customers," Siwek said.

In view of the pandemic still spreading, the company is currently refraining from making a forecast for 2020.