Global corporate giant General Electric, whose divisions include wind energy technology, is preparing to establish a new wind energy subsidiary to cover the Greek and Cypriot markets.

Despite holding a leading position in European and global wind energy markets, General Electric has never before been involved in the installation of wind energy systems in Greece and Cyprus.

The corporation’s administration reached a decision to establish a new business unit to serve these markets following favorable market forecasts concerning wind energy in the region in the years to come as well as the sturdy performance registered by the sector in 2016.

The large number of local wind energy projects considered to be at a mature stage, the heightened activity of sector enterprises, as well as a growing willingness by banks to finance wind energy projects all contributed to General Electric’s decision to set up a wind energy subsidiary here.

General Electric has been active in Greece for over a century, since 1904, offering infrastructure technology services, as well as solutions covering the transport, energy, construction and health sectors.

The corporation’s health division headquarters for southeast Europe are based in Athens. Since its acquisition of Alstom in 2015, General Electric has broadened its technological coverage.

A key player in onshore wind farms, General Electric has installed over 30,000 wind energy facilities in over 35 countries. The company is also a pioneering force in digital wind farm technology.