GE Energy Bets Big on More Alternative Energy, Shares Up 2.76%

GE Energy (NYSE:GE) is already a strong proponent of wind turbines, but now the company is ready to make a bigger bet on the wind industry (NYSE:FAN) with a 15 megawatt wind turbine.

Based on state-of-the art innovations in magnetic resonance imaging and nano-composites, these turbines are bigger with better blades and a next-generation control system. This will allow a huge increase in potential output.

Investing Insights: Alternative Energy ETFs: The Top 10 Exchange Traded Funds for Investing in Alternative Energy.

General Electric (NYSE:GE) currently leads the market in onshore wind turbines. The company’s 1.5/1.6 MW wind turbines dominate the market with its 1,679 installed units, according to the 2010 Wind Technologies Market Report. These 2010 installations represented almost half of all the wind power capacity.

GE’s stock (NYSE:GE) is up 2.76% to $15.27. Shares are down 17.5% year to date. The stock has traded in a 52-week range between $14.02 and $21.65.