GE Energy Financial Services Raises Investment Commitment


GE Energy Financial Services says it has raised its 2010 renewable energy investing target by 50% to $6 billion, as well as exceeded the $3 billion mark with its single highest-value wind deal. This new goal goal is a major acceleration of a previously announced target of $4 billion.

‘With our broad capabilities to invest equity and debt within and outside the United States – not only in wind, but in solar, biomass, hydro and geothermal power – we have become a major player in a $60 billion annual renewable energy market,’ says Alex Urquhart, president and CEO of GE Energy Financial Services.

GE Energy Financial Services says it closed more than $2 billion of renewable energy transactions last year, and by 2010 expects it will comprise 20% to 25% of its overall energy and water portfolio – up from about 10% in 2006.

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