GE Energy Financial Services Announces Senior Leader Retirements and Transition Plan
Norwalk, Connecticut – JUNE 14, 2018 – GE Energy Financial Services, the energy investing arm of GE (NYSE: GE) and business unit of GE Capital, announced that two of its industry leaders, Kevin P. Walsh and Timothy S. Howell, have announced their intention to retire. The unit has appointed Gaurav Raniwala, Susan Flanagan and Raghuveer Kurada to drive its continued investment activities in the global power and renewable energy industry. Both Walsh and Howell will stay for an extended period to ensure a smooth transition of business activities.
Walsh, who founded the unit’s Renewable Energy segment in 2006, will retire in the first quarter of 2019. Under his leadership, the unit invested over $15 billion in renewable energy projects globally and became a recognized leader in the industry. Walsh has been with GE for over 36 years and has held a variety of leadership roles across GE Capital and GE Company. He is also a member of Board of Directors for the American Council on Renewable Energy (ACORE).
Howell, who most recently led the unit’s US equity and co-development investing activities, will retire at the end of 2018. Howell began his career in GE’s Power unit and joined GE Capital in 1994. He has been with GE for over 34 years and has held a number of leadership positions.
“We thank Kevin and Tim for their significant contributions over the years and their continued dedication to the Company as we work to ensure a smooth transition of our important customer relationships. Our incoming leaders are industry experts that have a deep understanding of our business, strong customer relationships, and tremendous investment acumen and execution capabilities,” said David Nason, Chief Executive Officer of GE Energy Financial Services.
Gaurav Raniwala has been appointed as the new Global Renewable Energy Leader for GE Energy Financial Services. In this role, Raniwala will oversee the unit’s global renewable energy investment activities, including in US tax equity. Raniwala joined GE in 1995 and has a wealth of expertise in underwriting energy investments, including equity and loan transactions. Most recently, he held the position of Business Partner at GE Energy Financial Services, where he utilized his extensive underwriting expertise to help facilitate financing solutions for GE Renewable Energy equipment projects.
Susan Flanagan has been named Global Power Leader for GE Energy Financial Services. In this role, Flanagan will oversee the unit’s global power investment activities. Flanagan joined GE in 2005 and has held various senior-level roles across underwriting, portfolio and risk analysis. Most recently, Susan held the position of Business Partner at GE Energy Financial Services where she partnered with GE Power to develop competitive financing and technology solutions for its global customer base.
Raghuveer Kurada has been named Global Capital Advisory Leader for GE Energy Financial Services. In this role, Kurada will oversee third-party capital raising activities, including GE’s relationships with Export Credit Agencies, Development Financial Institutions and other debt and equity capital providers globally. Kurada joined GE in 1993 and has held various roles in structuring and risk management. Most recently, he was a Managing Director for GE Energy Financial Services’ Global Markets execution teams, focused on expanding GE’s global energy investment footprint.
While the unit seeks to reduce the size of its asset base to support a smaller and more focused GE Capital, GE Energy Financial Services continues to invest in and structure third-party financial solutions for GE’s power and renewable energy customers in the U.S. and globally.
About GE Energy Financial Services
A strategic GE Capital business, GE Energy Financial Services is a global energy investor with 35+ years managing assets through multiple energy cycles. Drawing on its technical know-how, financial strength and strong risk management, GE Energy Financial Services invests in and provide capital solutions for long-lived and capital-intensive projects and companies that help meet the world’s energy needs. It is headquartered in Connecticut with regional hubs in London, Houston, Hong Kong and Nairobi. For more information, visit www.geenergyfinancialservices.com and follow us on Twitter @GEEnergyFinServ.
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com
GE Energy Financial Services
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