(Yicai Global) June 14 -- GE Renewable Energy has ordered CNY321 million (USD47.2 million) worth of wind power equipment from Chinese iron components maker Jiangsu FAW Foundry after signing a long-term supply deal in 2017.

The Paris-based General Electric subsidiary ordered a range of castings from FAW Foundry on June 12, the supplier's parent Miracle Automation Engineering said in a statement yesterday.

The pair struck a multi-year supply deal in August 2017 under which FAW Foundry would sell its castings to GE Renewable at market-based prices through December 2020. GE spent CNY235 million on such parts in 2018, or about 32.2 percent of casting orders at Miracle Automation.

FAW Foundry, a subsidiary of carmaker FAW Group before Miracle took over in 2009, also received a CNY240 million order for wind turbine castings from Siemens Gamesa Renewable Technology last month.

Editor: James Boynton