Last month, GE Renewable Energy unveiled its plan to build the world's largest, most powerful offshore wind turbine, known as the Haliade-X. This Tuesday, it was announced that the mammoth rig will be tested and developed over the next five years, at the UK's Offshore Renewable Energy (ORE) Catapult research center.

Featuring a 12-megawatt direct drive generator, the Haliade-X will produce 45 percent more energy than any other offshore wind turbine currently available. More specifically, plans call for it to generate up to 67 GWh (Gigawatt hours) annually, which is reportedly enough to power up to 16,000 European households.

It will stand 260 meters (853 ft) tall, with a 220-meter (722-ft) rotor incorporating three 107-meter (351-ft) blades – they will be the longest offshore blades ever made. The turbine will also have an "industry-leading" 63-percent gross capacity factor. GE defines gross capacity factor as a comparison of the amount of energy that was generated, versus the maximum that could have been produced at continuous full power operation during a specific period of time.

So, why go with one giant wind turbine (or a few), instead of a greater number of smaller ones? According to the company, using fewer turbines results in less capital expenditure for a wind farm, a shorter installation time, and simplified maintenance and operation of the farm. All of these factors combined, says GE, should make offshore wind farming more profitable, which would be reflected in lower electricity costs for consumers.