NEWS

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.

($1 = 5.387 Norwegian Crowns)