I have some inside info.
GE orders fully half of their Nacelles (the housing for wind turbines) from Jupiter Plastics of China.
And the steel that goes into a turbine? 100% from GEXPRO.
Who is GEXPRO? Well they used to be GE but they got spun off and sold to China.
So GE is producing wind turbine that get a Production Tax Credit from the US tax payer, financed by GE Capital (who got a multi-billion dollar bailout from the US taxpayer and declared a bank), to buy towers, blades and nacelles form China.
And by the way, did the executives of GE Capital who took TARP money, take a pay cut?
I don't think so.
Now GE is poised to launch the "2.X" program which is a 2.5 MW turbine.
Guess where the first 20 turbines are being produced... Hint: Not the USA, the argument is between China and Europe. Europe will win. The crap that China produces will not be accepted.
GE Supply was sold to Rexel and the company name was changed to GEXPRO. They are not a Chinese company. I've done business buying electrical equipment from GEXPRO for a few years.
Rexel was listed on the Paris stock exchange until 2005 as a subsidiary of the PPR group and has since been owned by a private equity consortium led by Clayton Dubillier & Rice, Eurazeo and Merrill Lynch Global Private Equity. Rexel returned to the Paris stock exchange through an IPO in April 2007.