GE unit committed $15 billion to date for renewable-energy Financing unit invests in equity, tax equity and debt. General Electric Co.’s energy-investing unit expects to commit $3 billion this year, with at least half going to support renewable-energy projects around the world. Most of GE Energy Financial Services’s 2017 investments will be in North America, including deals to repower existing wind farms, according to David Nason, chief executive officer of the unit, which frequently backs projects that use GE technology.
NORWALK, CONNECTICUT, Aug 8, 2018 —
GE Capital (NYSE:GE) has entered into an agreement to sell its GE Energy Financial Services’ Project Finance Debt Business (“Project Finance Debt Business”), including the transfer of a team of employees, to Starwood Property Trust, Inc. (NYSE: STWD) (“Starwood”). The sale comes as the energy investing unit of GE seeks to reduce the size of its asset base in support of a smaller and more focused GE Capital.
GE Capital's Energy Financial Services Agrees to Sell Project Finance Debt Business Valued at Approximately $2.6 Billion to Starwood Property Trust
TOKYO, JAPAN, Jun 29, 2017 —
- Fund represents a new renewable energy investment vehicle led by GE for the Japan market
- The fund is targeted at JPY 75 billion and has the potential to grow to JPY 90 billion
GE Energy Financial Services ("GE EFS"), the energy investing unit of General Electric (NYSE:GE), has raised the largest* solar energy fund in Japan to invest in Japanese solar power projects. Development Bank of Japan Inc. ("DBJ"), which used its renewable energy investing experience to help GE EFS structure the fund, has committed as the anchor investor for one third of the interests.
GE Energy Financial Services Raises Largest* Solar Fund in Japan with Development Bank of Japan as Anchor Investor
ANAHEIM, CA, May 23, 2017 —
GE Energy Financial Services, a business unit of GE (NYSE: GE), announced today, at the American Wind Energy Association's (AWEA) WINDPOWER 2017 conference, that it has exceeded $15 billion in renewable energy investment commitments in wind, solar, and other renewable energy projects globally. Over the past three years, GE Energy Financial Services has committed to invest approximately $5 billion in renewable energy projects, exceeding its 2014 commitment to invest $1B per year.
Summit Power International (Summit), the Singapore incorporated power producer, announced collaborations to develop $1 billion of gas to power generation and an offshore liquefied natural gas (LNG) import terminal.