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  • GE Energy Financial Services Invests in GE-Powered Los Guindos Power Station in Chile
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  • Pilot Hill Wind Project Closes Financing From GE Energy Financial Services and MetLife
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Equity investment is the mainstay of our business, accounting for approximately 70% of the investment commitments in our portfolio. Our investments cover a wide range of energy assets and projects. We invest, alone or with others, in private and public energy customers that have developed compelling business models and well-defined strategies. We invest with a long-term view, across the capital spectrum, to help our customers and GE grow.

  • 70% of our portfolio is equity investments
  • All Equity Solutions Projects

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    Year
    Product
    Company Name
    Sector
    Technology
    Location
    2016
    Equity
    Astoria 2
    Renewable
    Solar
    California

    GE EFS and Canadian Solar Subsidiary Recurrent Energy Closes Financing for 75-Megawatt Astoria 2 Solar Power Project

    GUELPH, ONTARIO, CANADA, Jan 5, 2016 — Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that its wholly owned subsidiary, Recurrent Energy, one of North America's largest solar project developers, closed on a tax equity investment commitment with GE (NYSE: GE) unit GE Energy Financial Services for the 75 megawatt (MWac) Astoria 2 solar power project. Recurrent Energy also closed a debt facility for the Astoria 2 project, currently under construction in California. Recurrent Energy will be the managing member of the Astoria 2 solar power project and plans to own and operate the facility. Santander Bank, N.A. (Santander) was the coordinating lead arranger of a five member bank club including NORD/LB, Rabobank, Key Bank,...

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    "Investing in the Astoria 2 project builds upon our relationships with Recurrent Energy and Canadian Solar and continues the expansion of our global renewable energy footprint"
    — Kevin Walsh Managing Director and Head of Renewables at GE Energy Financial Services
    • 75 MW

      solar power project

    • GE 1500V

      inverters

    Close
    2016
    Equity
    Los Guindos
    Power
    Gas
    Bio Bio Region, Los Guindos

    GE Energy Financial Services Invests in GE-Powered Los Guindos Power Station in Chile

    SANTIAGO, CHILE , Feb 25, 2016 — GE (NYSE: GE) Unit, GE Energy Financial Services has partnered in the Chilean power market for the first time with Inprolec SA by acquiring a 75 percent stake in the 139-megawatt open-cycle Los Guindos Power Plant.Inprolec is a member of the Ingelec Group with over 28 years of experience in the energy industry, and was responsible for the development and construction of the plant, continues to manage its operation and retains a 25 percent ownership interest. Situated near the Pacific natural gas pipeline 490 kilometers from Santiago, in the Bio Bio region of Chile, Los Guindos operates as one of the most efficient plants in the region with GE's 9E turbine. Financial details are not disclosed. This transaction demonstrates GE's commitment to meeting customer needs in...

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    GE Energy Financial Services Invests in GE-Powered Los Guindos Power Station in Chile

    "Los Guindos allows us to deploy capital in one of our priority markets. Our investment offers options for growth alongside an experienced participant in Chile's energy markets with a proven track record of success"
    — Andrew Marsden Managing Director and head of EMEA & Latin America at GE Energy Financial Services.
    • 139 MW

      open-cycle power plant

    • GE 9E

      turbines

    Close
    2016
    Equity
    Trina Solar
    Renewable
    Solar
    Miyagi Prefecture, Japan

    Trina Solar Partners with GE Energy Financial Services to Deliver Clean Energy to Miyagi Prefecture in Japan

    CHANGZHOU, CHINA, Apr 25, 2016 — Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a global leader in photovoltaic ("PV") modules, solutions, and services, today announced that it has partnered with GE Energy Financial Services ("GE EFS") to invest in a 14 MW (megawatt) DC (direct current) utility-scale solar project (the "Project") in Ishinomaki, Miyagi Prefecture, Japan. As part of the partnership, GE EFS will hold an 85% equity interest in the Project, acquired from Trina Solar under the terms of the Membership Interests Purchase Agreement. Both companies will make capital contributions to the Project on a pro rata basis in accordance with their respective interests. Moreover, a management committee, consisting of two representatives appointed by each company, will be established to...

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    "Trina Solar is an experienced global developer and we are proud to work with them to bring this exciting project in Miyagi, Japan to fruition and to continue to expand our footprint in Asia"
    — Sushil Verma Managing Director and Head of Asia Pacific at GE Energy Financial Services
    • 14 MW

      solar power project

    • 4,400

      Japanese households powered

    Close
    2015
    Equity
    EGPNA Renewable Energy Partners
    Renewable
    Wind
    North America

    Enel Green Power Sells 49% In North America Newco To GE Energy Financial Services Through Partnership Agreement

    ROME, NY, Mar 31, 2015 — Enel Green Power S.p.A. ("EGP"), through its subsidiary Enel Green Power North America, Inc. ("EGPNA"), entered into an agreement with General Electric Unit (NYSE: GE) GE Energy Financial Services for the sale of a 49% stake in a newly created company, EGPNA Renewable Energy Partners, LLC ("EGPNA REP"), for a total consideration of approximately 440 million US dollars. EGPNA will continue to own 51% of the partnership interests, thereby fully consolidating the partnership in its accounts, and will continue to be responsible for the daily administration, operation and maintenance activities of EGPNA REP assets. Francesco Venturini, Chief Executive Officer and General Manager of Enel Green Power commented: "North America is one of our most...

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    • 49%

      ownership interest

    • $440M

      investment

    Close
    2015
    Equity
    Futtsu Solar Project
    Renewable
    Solar
    Futtsu City, Japan

    GE Energy Financial Services Invests in Green Power Investment Corp's Solar Project in Futtsu City, Japan

    FUTTSU CITY, JAPAN, Apr 21, 2015 — GE Unit (NYSE: GE), GE Energy Financial Services has formed a new partnership with Tokyo-based renewable energy project developer, Green Power Investment Corp. ("GPI"), to invest in a 42-megawatt (DC) photovoltaic solar power project in Futtsu City, Japan. GE Energy Financial Services will invest alongside GPI in the project. In addition to the i nvestment from GPI and GE Energy Financial Services, financing from a syndicate of four banks, led by The Bank of Tokyo Mitsubishi UFJ, Ltd. will be utilized for the project. Additional financial details are not disclosed. Located in Japan's prefecture of Chiba, the Futtsu solar plant is currently under construction and is expected to reach commercial operations in January 2016. It will sell its power via a...

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    GE Energy Financial Services Invests in Green Power Investment Corp's Solar Project in Futtsu City, Japan

    "The Futtsu project supports our renewable energy and international growth objectives through the formation of a new relationship with GPI and expansion of our network to additional partners in the country"
    — Sushil Verma Managing Director and Head of Asia Pacific at GE Energy Financial Services
    • 42-MW

      photovoltaic solar power

    Close
    2015
    Equity
    Southern Star Central Corp.
    Oil & Gas
    Gas
    Owensboro, KY

    La Caisse Enters Partnership to Acquire Southern Star Central Corp

    MONTREAL, May 1, 2015 — La Caisse de dépôt et placement du Québec ("CDPQ") has partnered with GE Unit (NYSE: GE) GE Energy Financial Services ("GE EFS") to jointly acquire Southern Star Central Corporation from Morgan Stanley Infrastructure. The company has full ownership of Southern Star Central Gas Pipeline Inc. ("SSCGP"), which operates a FERC (Federal Energy Regulatory Commission)-regulated natural gas pipeline system in the United States. Financial details of the transaction have not been disclosed. SSCGP is a well-established company. Founded in 1904, it owns and operates a natural gas transmission and storage network. The pipeline network extends over more than 9,300 kilometers across eight states, serving mainly the Kansas and Missouri markets. "For la Caisse, this is...

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    • 9,300

      kilometers

    • Eight

      states

    Close
    2015
    Equity
    Hosoe Solar Plant
    Renewable
    Solar
    Miyazaki City, Japan

    GE Energy Financial Services and Pacifico Energy Partner on a Third Solar Transaction in Japan

    MIYAZAKI, JAPAN, Mar 31, 2015 — GE unit (NYSE: GE) GE Energy Financial Services and Virginia Solar Group subsidiary Pacifico Energy have partnered for a third time to construct a solar power project in Japan. GE Energy Financial Services and Virginia Solar Group will jointly invest equity in a 96.2-megawatt (DC) photovoltaic solar plant, with GE Energy Financial Services' commitment totaling ¥7.5 billion. Construction of the plant is underway in Hosoe on Kyushu Island, in the prefecture of Miyazaki. A ¥35 billion term loan facility with a 22-year tenor – led by The Bank of Tokyo Mitsubishi UFJ, Ltd. as the sole and exclusive mandated lead arranger – was provided on a non–recourse project finance basis with a syndicate of 12 Japanese financial institutions. Additional transaction...

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    GE Energy Financial Services and Pacifico Energy Partner on a Third Solar Transaction in Japan

    "We aim to continue helping Japan achieve a diversified power mix. Working with reliable and regional counterparties supports our international expansion and renewable energy investment commitments"
    — Sushil Verma Managing Director and Head of Asia Pacific at GE Energy Financial Services
    • ¥7.5 billion

      GE EFS commitment

    • 96.2-MW

      photovoltaic solar plant

    Close
    2015
    Equity
    Langhope Rig Wind Farm
    Renewable
    Wind
    Edinburgh, Scotland

    GE Energy Financial Services Acquires Langhope Rig Wind Farm in Scotland from SSE

    EDINBURGH, SCOTLAND, Mar 26, 2015 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that it has signed an agreement with SSE plc, one of the largest generators and suppliers of energy in the UK, to acquire the 16-megawatt Langhope Rig wind farm, which is nearing construction completion near Hawick, in the Scottish Borders. Situated approximately 55 miles south of Edinburgh, the project supports GE's commitment to international expansion and investing USD $1 billion annually in renewable energy projects worldwide. The Langhope Rig wind farm comprises 10 GE 1.6-megawatt wind turbines which GE Energy UK will service under a long-term operations and maintenance agreement. Under the terms of the acquisition agreement, GE Energy Financial Services will own and operate the...

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    GE Energy Financial Services Acquires Langhope Rig Wind Farm in Scotland from SSE

    "The Langhope Rig acquisition supports our strategy of investing in high-quality energy assets with experienced partners. This transaction combines GE's strengths as a leading supplier of both structured finance and energy technology in an investment underpinned by the UK's stable wind regime"
    — Andrew Marsden Managing Director and European leader at GE Energy Financial Services
    • 16-MW

      wind farm

    • 10 1.6-MW

      GE wind turbines

    Close
    2015
    Equity
    Balko
    Renewable
    Wind
    Balko, OK

    GE Energy Financial Services Provides Tax Equity for 300-MW Balko Wind Project in Oklahoma

    BEAVER COUNTY, OKLAHOMA, Jan 13, 2015 — D. E. Shaw Renewable Investments, L.L.C. (DESRI) and Apex Clean Energy (Apex) today announced the sale of Balko Wind, a wind energy project in Beaver County, Oklahoma. Apex developed the 300 MW project and sold it to an affiliate of DESRI in late 2014. Financing for the acquisition and construction of the project was provided by Santander Bank, N.A., KeyBank, N.A., Citi, and Banco de Sabadell, S.A. Commitments for tax equity financing were provided by affiliates of Bank of America Merrill Lynch, General Electric Capital Corp., Google Inc., and Citi. CohnReznick Capital Markets Securities, LLC acted as advisor to DESRI for the tax equity financing. Financial terms were not disclosed. Apex is an independent renewable energy company with a large pipeline of...

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    • 300-MW

      wind farm

    • 162 GE 1.85-87

      wind turbines

    Close
    2015
    Equity
    Briscoe
    Renewable
    Wind
    Briscoe County, TX

    Capital Dynamics, GE Energy Financial Services and Morgan Stanley Complete Financing for 150-MW Briscoe Wind Project

    ZUG, SWITZERLAND, Jan 22, 2015 — Capital Dynamics, a global private asset manager, GE Energy Financial Services and Morgan Stanley are pleased to announce they have completed financing for the 150-megawatt (MW) Briscoe Wind Farm, LLC ("Briscoe Wind Farm") spanning 20,000 acres in Briscoe County, Texas, USA. Once operational, Briscoe Wind Farm targets providing clean and renewable power generation that is anticipated to cut the equivalent of carbon dioxide emissions from over 890,000 barrels of oil otherwise consumed for the same energy output annually1. The resulting electricity is expected to be sold in the Electricity Reliability Council of Texas (ERCOT) electricity market. Capital Dynamics' Clean Energy and Infrastructure (CEI) team completed tax equity agreements with GE Energy Financial...

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    "We are pleased to support the efforts of Capital Dynamics and partner with Morgan Stanley to build a clean and reliable project"
    — Kevin Walsh Managing Director of Power and Renewable Energy at GE Energy Financial Services
    • 150-MW

      wind farm

    • 20,000

      acres

    Close
    2015
    Equity
    Joliet Bulk, Barge & Rail LLC
    Oil & Gas
    N/A
    Joliet, Illinois

    Arc Logistics Partners LP to Acquire a Terminal in Joliet, Illinois in a Joint Venture

    JOLIET, ILLINOIS, Feb 19, 2015 — Arc Logistics Partners LP (NYSE:ARCX) ("Arc Logistics" or the "Partnership"), through a joint venture arrangement with GE Energy Financial Services, a unit of General Electric Company (NYSE:GE), has agreed to acquire all of the membership interests of Joliet Bulk, Barge & Rail LLC ("JBBR") from CenterPoint Properties Trust ("CenterPoint" or the "Seller") for $216 million. JBBR's principal assets consist of a crude oil unloading terminal and a 4-mile crude oil pipeline, the Joliet Terminal, which are in the final stages of construction in Joliet, Illinois and are expected to be complete in mid to late April 2015. The acquisition consideration also includes an earn-out payable by the JBBR joint venture to CenterPoint based upon petroleum product throughput volumes at the Joliet Terminal...

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    • $216 million

      40% Ownership

    • 85,000 barrel capacity

      crude oil per day

    Close
    2015
    Equity
    Ararat Wind
    Renewable
    Wind
    Australia

    GE Part of Global Consortium That Will Deliver Australia's Third Largest Wind Farm, Valued at $450 Million

    VICTORIA, AUSTRALIA, Jun 25, 2015 — Renewable Energy Systems ("RES"), together with GE (NYSE: GE) and Downer (ASX: DOW), today announced a major contract for the supply of 75 wind turbines to the 240MW Ararat Wind Farm in south-west Victoria. In what will be the third largest wind farm in Australia, the $450 million project will be financed by shareholders Partners Group, RES, OPTrust and GE. This deal represents the first major contract to be signed following restored bipartisan support for the Renewable Energy Target (RET), mandating 33,000-gigawatt hours of producing capacity by 2020, and signals the return of investment to Australia's renewable energy sector. The project also benefits from a power purchase agreement with the Australian Capital Territory Government (ACT), ...

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    "With certainty comes investment - that's our experience overseas and that's what we'll see here in Australia now that the RET is fully resolved. I congratulate both the Coalition and the ALP on restoring the policy certainty needed to enable investment and job creation. This decision has immediately unlocked half a billion dollars of direct foreign investment into Australia"
    — Geoff Culbert President & CEO, GE Australia, New Zealand and PNG
    • 240 MW

      wind farm

    • 1,23,000

      homes powered

    Close
    2015
    Equity
    Kanagi Solar Project
    Renewable
    Solar
    Shimane Prefecture, Japan

    GE Energy Financial Services and Pattern Development Jointly Invest in GPI's Kanagi Solar Project in Japan

    HAMADA-SHI, JAPAN, Sep 16, 2015 — GE Unit (NYSE: GE) GE Energy Financial Services and Pattern Energy Group LP ("Pattern Development") entered into an agreement with Tokyo-based renewable energy project developer, Green Power Investment Corp. ("GPI"), to invest in a 13.6-megawatt (DC) photovoltaic solar project located in Japan's prefecture of Shimane. GE Energy Financial Services and Pattern Development will each own 45% of the project and GPI will retain a 10% ownership interest. GPI will manage construction and operations of the plant, which is located in Hamada-Shi, a mountainous area off the Sea of Japan. The transaction was closed in June 2015 and financial details were not disclosed. Construction on the Kanagi solar project is underway and the plant is expected to reach commercial operation...

    Read Full Press Release
    "Partnering with GPI and Pattern Development supports the growth of Japan's energy infrastructure and helps the country achieve its renewable targets to meet its power needs"
    — Sushil Verma Managing Director and Head of Asia Pacific at GE Energy Financial Services
    • 13.6 MW

      photovoltaic solar plant

    • 45%

      ownership interest

    Close
    2015
    Equity
    Pilot Hill Wind
    Renewable
    Wind
    Kankakee & Iroquois County, IL

    Pilot Hill Wind Project Closes Financing From GE Energy Financial Services and MetLife

    SAN DIEGO, CA, AND CHICAGO, IL, Dec 1, 2015 — EDF Renewable Energy's 175-megawatt (MW) Pilot Hill wind project located in Kankakee and Iroquois Counties in Illinois has closed structured equity financing from GE Unit (NYSE:GE) GE Energy Financial Services and MetLife, Inc. (NYSE: MET) . Pilot Hill Wind Project, which has achieved commercial operations and is located about 60 miles southwest of Chicago, will power 100 percent of the energy needs of Microsoft Corporation's Chicago data center. Microsoft has committed to purchase the output under a 20-year power purchase agreement. This is Microsoft's second and largest wind energy deal which demonstrates its commitment to a neutral carbon footprint. "Pilot Hill serves as another example of EDF Renewable Energy's strategy to develop renewable energy projects...

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    Pilot Hill Wind Project Closes Financing From GE Energy Financial Services and MetLife

    "Investing in Pilot Hill contributes to the growth of EDF Renewable Energy, an important worldwide GE customer, builds on strong commercial interest in the renewable energy sector, and helps Microsoft meet its environmental goals"
    — Kevin Walsh Managing Director and Head of Renewable Energy at GE Energy Financial Services.
    • 175 MW

      wind farm

    • Powering 100% of

      Microsoft Corporations Chicago Data Center

    Close
    2014
    Equity
    Southcross Holdings
    Oil & Gas
    N/A
    Dallas, TX

    Southcross Holdings, LP Announces $210 Million Capital Commitment from Energy Capital Partners and GE Energy Financial Services

    DALLAS, TX, Nov 7, 2014 — Southcross Holdings, LP ("Holdings" or "the Company"), announced today the completion of a $210 million preferred equity commitment from Energy Capital Partners Mezzanine Opportunities Fund and GE Energy Financial Services. Holdings owns 100% of the general partner of Southcross Energy Partners, LP (NYSE: SXE) ("Southcross"), limited partner interests in Southcross, and several Eagle Ford based midstream assets. The investment will enable the Company to complete the integration of assets from the recent TexStar merger and to further build out the Company' s pro–forma operating footprint in the Eagle Ford basin. Development of these assets at Holdings will continue to enhance the significant inventory of potential drop downs for...

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    "We have great confidence in the leadership at Southcross. We are excited to use our capital and expertise to support the significant growth opportunities that this team has developed."
    — John Shepherd Managing Director at GE Energy Financial Services
    Close
    2014
    Equity
    Eagle LNG Jacksonville Terminal
    Oil & Gas
    N/A
    Jacksonville, FL

    Clean Energy, GE Ventures, GE Energy Financial Services and Ferus Natural Gas Fuels to build LNG Facility in Jacksonville, FL

    NEWPORT BEACH, CALIF, Oct 30, 2013 — Clean Energy Fuels Corp., (NASDAQ: CLNE) today announced that it has placed a purchase contract on property where it hopes to build a liquefied natural gas (LNG) fuel terminal in Jacksonville, Fla. This would be the first LNG facility on the Eastern seaboard to specifically supply LNG for the burgeoning maritime, heavy-duty trucking and rail industries. The planned facility is the first project to be developed by Eagle LNG Partners, the recently-announced consortium of Clean Energy, GE Ventures, GE Energy Financial Services and Ferus Natural Gas Fuels, formed to jointly deliver the cleaner-burning, less-costly fuel in the United States. “Establishing LNG capacity in Jacksonville is a critical strategic effort to enable LNG fueling throughout the Southeast region for our various...

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    • Maritime, trucking and rail

      industries

    • 300,000 gallons / day

      LNG facility

    Close
    2014
    Equity
    Setouchi City Mega Project
    Renewable
    Solar
    Okayama, Japan

    Japan's Largest Solar Power Project Funded With Market-Leading Investment by GE and Toyo Engineering, and $900 Million Debt Syndicate

    OKAYAMA, JAPAN, Sep 29, 2014 — Kuni Umi Asset Management, GE (NYSE: GE) unit GE Energy Financial Services and Toyo Engineering Corporation have invested in Japan's largest solar power project, a 231–megawatt facility to be built in Setouchi City, Okayama Prefecture, via special purpose company and representative member Setouchi Future Creations. GE Energy Financial Services holds a 60 percent stake in the project, one of the largest single equity investments in renewable energy in Japan. Financial details were not disclosed. To support the approximately $1.1 billion project, the three owners have raised more debt than any prior renewable energy project in the country. An $867 million loan –– led by Bank of Tokyo–Mitsubishi UFJ, Mizuho Bank and Sumitomo Mitsui Banking Corporation...

    Read Full Press Release

    Japan's Largest Solar Power Project Funded With Market-Leading Investment by GE and Toyo Engineering, and $900 Million Debt Syndicate

    "Japan's favorable regulatory policies make solar power attractive and diversify the country's power generation sources. For us, the Kuni Umi project expands our international and renewable energy footprints, which already include investment commitments of $1.8 billion in equity and debt in more than one gigawatt of solar power projects worldwide."
    — Sushil Verma Managing Director and Japan Business leader at GE Energy Financial Services
    • 231-MW

      solar PV plant

    • 1,210 acres

      Japan's largest solar power project

    Close
    2014
    Equity
    Atria Power
    Renewable
    Wind
    Ananthapur and Betul, India

    GE Energy Financial Services Invests in Atria Power's Wind Farms in India; Supports USD $1 Billion Annual Renewable Energy Investment Commitment

    ANANTHAPUR AND BETUL, INDIA, Jul 28, 2014 — GE unit (NYSE: GE) GE Energy Financial Services has invested equity in three Atria Power wind projects under construction in India, supporting GE's commitment to invest USD $1 billion annually in renewable energy projects worldwide. The wind farms will have a combined capacity of 126 megawatts and will support the Indian Ministry of New and Renewable Energy's program to generate competitively priced grid–interactive wind power through feed–in tariffs. Financial details were not disclosed. Located in Ananthapur district of Andhra Pradesh, the 25.6–megawatt first project is expected to reach commercial operations in September. The two other projects, each 50 megawatts, are located in Betul district of Madhya Pradesh, and are expected to reach...

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    GE Energy Financial Services Invests in Atria Power's Wind Farms in India; Supports USD $1 Billion Annual Renewable Energy Investment Commitment

    "Partnering with Atria Power, a strong and accomplished regional energy player, accelerates our global growth and India wind portfolio"
    — Raghuveer Kurada Business leader for India and South East Asia at GE Energy Financial Services
    • Structured equity financing

    • 126-megawatt

      three wind projects

    Close
    2014
    Equity
    Grandview Phase I
    Renewable
    Wind
    Amarillo, TX

    E.ON and GE Energy Financial Services Partner To Complete GE-Powered Wind Farm, In Texas Panhandle

    AMARILLO, TEXAS, Jul 8, 2014 — Subsidiaries of E.ON SE (E.ON) and GE (NYSE: GE) are forming an investment partnership to own and operate Grandview Phase I, a 211-megawattt GE-powered wind farm under construction in the Texas Panhandle. GE Energy Financial Services provided 50 percent of the partnership equity in the project, with the balance provided by E.ON's subsidiary E.ON Climate and Renewables North America, LLC (EC&RNA). Financial details were not disclosed. Located 26 miles east of Amarillo in Carson County, Grandview I will use 118 GE 1.7-100 wind turbines, which GE will service under a five-year agreement. EC&RNA is managing construction of the wind farm, expected to begin commercial operations in December. Once complete, EC&RNA will provide operations and maintenance. The wind farm will...

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    "Combining investment and technology for the Grandview wind project builds on our long-term relationship with EC&RNA and supports the growth of this important customer and GE. GE Energy Financial Services holds a portfolio of approximately 12 gigawatts of wind power projects in operation or under construction."
    — David Nason President and CEO of GE Energy Financial Services
    • Partnership equity

    • 211-megawatt

      wind farm

    Close
    2014
    Equity
    Spinning Spur II
    Renewable
    Wind
    Amarillo, TX

    Spinning Spur II Wind Project in Texas Becomes Operational, Project also Closed Financing from GE and Union Bank and UBS Partnership Confirmed

    SAN DIEGO, CALIF. AND AMARILLO, TEXAS, Jul 7, 2014 — EDF Renewable Energy announced today that the 161–megawatt (MW) Spinning Spur II Wind Project in Texas has reached commercial operation (COD). The company further announced the close of structured equity financing from GE Unit (NYSE:GE) Energy Financial Services and MUFG Union Bank, N.A. The completion of construction and COD milestone allows the closing of the sale of 50 percent of EDF Renewable Energy's equity interest in the project to UBS International Infrastructure Fund. Financial details were not disclosed. Spinning Spur II commenced construction of 87 GE 1.85–megawatt, 87–meter rotor wind turbines 40 miles west of Amarillo in June 2013. The power is sold pursuant to an 11–year purchase agreement. The project is one of the first to...

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    Spinning Spur II Wind Project in Texas Becomes Operational, Project also Closed Financing from GE and Union Bank and UBS Partnership Confirmed

    "Our investment in this well-structured project supports the growth of EDF Group, an important worldwide GE customer, as well as our strategy to grow by combining expertise, capital, and technology."
    — Kevin Walsh Managing Director of Power and Renewable Energy at GE Energy Financial Services
    • Structured equity financing

    • 161-megawatt

      wind farm

    Close
    2014
    Equity
    Kumenan
    Renewable
    Solar
    Okayama, Japan

    GE Energy Financial Services Expands Internationally with Solar Power Project Investment, in Japan

    OKAYAMA, JAPAN, Jun 9, 2014 — Expanding its international and renewable energy footprints, GE unit (NYSE: GE) GE Energy Financial Services has invested in a 32–megawatt solar photovoltaic power project in Japan. This transaction, with project developer Pacifico Energy, contributes to GE Energy Financial Services' plan to invest over USD $1 billion annually in renewable energy projects worldwide. Financing for the solar project, known as Kumenan, was done on a non–recourse project finance basis and was supported by a JPY ¥11 billion loan from The Bank of Tokyo–Mitsubishi UFJ and The Chugoku Bank Ltd. Additional financial details were not disclosed. Located in the prefecture of Okayama, Kumenan has started construction and is expected to reach commercial operations in the first quarter...

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    GE Energy Financial Services Expands Internationally with Solar Power Project Investment, in Japan

    "The Kumenan project helps Japan meet its renewable energy targets and sets the stage for future investments by the GE unit. Our investment in Kumenan advances our global growth into new markets with a strong risk-return profile."
    — David Nason President and chief executive officer of GE Energy Financial Services
    • Equity

      investment

    • 32- megawatt

      solar PV power project

    Close
    2014
    Equity
    Casillas Petroleum
    Oil & Gas
    Gas
    Tulsa, OK

    GE Energy Financial Services and Casillas Petroleum Partner to Acquire Oil & Gas Reserves in Kansas

    TULSA, OK, Aug 5, 2014 — GE unit (NYSE: GE) GE Energy Financial Services has partnered with Casillas Petroleum Corp. to purchase oil and gas reserves in southwest Kansas from Cimarex Energy Co. (NYSE: XEC). The purchase marks the first collaboration between GE and Casillas Petroleum. Financial details were not disclosed. The assets include more than 500 producing wells spread across 14 counties in Kansas. Tulsa–based Casillas Petroleum will operate the properties and serve as the general partner of the partnership. GE Energy Financial Services will be the sole limited partner and will provide both acquisition and development capital to help grow the partnership's reserves. Greg Casillas, president of Casillas Petroleum, said, "Our investment with GE allows us to grow our business...

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    "Our partnership with Casillas Petroleum is another example of helping customers and GE grow through profitable investments in long-lived assets"
    — Ray Edgar Managing director and leader of the Oil and Gas team at GE Energy Financial Services
    • Partnership equity

    • More than 500 producing wells

      oil & gas reserves

    Close
    2014
    Equity
    Welspun
    Renewable
    Solar
    Neemuch, India

    GE Invests USD 24 Million In One of India's Biggest Solar Projects

    NEEMUCH, INDIA, Apr 25, 2014 — GE unit (NYSE: GE) GE Energy Financial Services and Welspun Renewables Energy Pvt. Ltd. (WREPL) announced today a partnership to expand solar energy generation in India. GE Energy Financial Services is making its first investment in a solar power project in India, funding US $24 million for a 151 (DC)-megawatt solar photovoltaic power project that WREPL, one of India's leading clean energy generating companies, put into operation in August 2013, almost eight months ahead of schedule. The Neemuch project – one of the world's largest solar plants – powers 624,000 homes and mitigates an estimated 216,372 tons of carbon emissions annually. The project, part of WREPL's 308 (DC)-megawatt operational solar portfolio, is located on an...

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    GE Invests USD 24 Million In One of India's Biggest Solar Projects

    "With its geography, strong economic growth and commitment from the highest levels of government, India has gained incredible potential for the development of solar power. Our investment in Welspun Renewables' solar project helps to realize that potential. WREPL's history of developing benchmark projects ahead of schedule and with high generation power output helps us expand globally across the energy spectrum and meet the world's energy needs."
    — Raghuveer Kurada Business leader for India and South East Asia at GE Energy Financial Services
    • $24 million

      Equity Investment

    • 151-megawatt

      solar power plant

    Close
    2014
    Equity
    Acres and Barranafaddock
    Renewable
    Wind
    Ireland

    GE Energy Financial Services Makes First Equity Investment In Wind Power In Ireland, Buys Two GE-Powered Wind Farms From Element Power

    DUBLIN, IRELAND , Feb 25, 2014 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today it has made its first equity investment in Ireland's wind power market by acquiring two wind farm construction projects that will be powered by the GE's flagship 2.85MW wind turbines. With a combined capacity of 51 megawatts, the wind farms, acquired from Element Power and now under construction, will help Ireland meet its renewable energy generation targets, produce power for thousands of homes, and reduce electricity costs for Irish consumers. Financial terms of the sale were not disclosed. Element Power is managing construction of the projects and will provide operational management services following completion of the farms, which will use GE's 2.85-megawatt turbines with 103m rotors. The...

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    GE Energy Financial Services Makes First Equity Investment In Wind Power In Ireland, Buys Two GE-Powered Wind Farms From Element Power

    "The combination of Ireland's strong wind resources with a stable regulatory regime and well-structured feed-in tariff for wind energy present attractive growth opportunities for us, our partners and the country," said Marsden. "We value our partnership with Element Power and are exploring other opportunities to work with them and others in Ireland and across Europe as we seek to expand our portfolio of energy investments"
    — Andrew Marsden London-based managing director and European leader at GE Energy Financial Services
    • Equity

      Investment

    • 51-megawatt

      wind farms

    Close
    2014
    Equity
    Stephens Ranch Wind Project
    Renewable
    Wind
    Lubbock, TX

    Starwood Energy Group Closes Financing with GE, Citibank, and Santander on its 211-Mw Stephens Ranch Wind Project in Texas

    GREENWICH, CONN., Jan 7, 2014 — Starwood Energy Group Global, LLC, a leading private investment firm focused on energy infrastructure, announced today that an affiliate has completed agreements to finance and construct its first wind farm, a 211 Megawatt (MW) project 45 miles south of Lubbock, Texas. The Stephens Ranch project, which represents the first of two phases that will total 377 MW, will use GE 1.7-100 turbines and be built by Wanzek Construction, with completion scheduled for late 2014. Affiliates of GE Energy Financial Services, Banco Santander and Citi have committed to invest tax equity in the project, and affiliates of Starwood Energy Group have committed 100% of the cash equity. Santander Bank, N.A. and Citi are also providing a non-recourse construction debt facility (including...

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    "This transaction enabled us to combine our Texas wind energy investing expertise with the skills of our tax equity partners, Santander and Citi, to support Starwood Energy on this wind farm, a well-structured project using proven technology"
    — Kevin Walsh Managing Director and Head of Power and Renewable Energy at GE Energy Financial Services
    • Tax

      Equity Investment

    • 211-megawatt

      wind farm

    Close
    2013
    Equity
    Prairie Breeze Wind Energy Center
    Renewable
    Wind
    Lincoln, NE

    GE Energy Financial Services makes structured equity investment in GE-powered Nebraska wind farm

    CHICAGO, IL, Oct 2, 2013 — Invenergy Wind LLC (“Invenergy”) announced today that it has arranged debt and tax equity financing for its 200.6 MW Prairie Breeze Wind Energy Center project (“Prairie Breeze”), which is under construction approximately 100 miles northwest of Lincoln, Nebraska. The financing included construction and term loans with Sovereign Bank, N.A. (an affiliate of Banco Santander S.A.), Prudential Capital Group, and Rabobank, acting together as Joint Lead Arrangers and Joint Bookrunners. Tax equity commitments were secured from affiliates of GE (NYSE: GE) unit GE Energy Financial Services, Bank of America Merrill Lynch, and JP Morgan. Prairie Breeze will feature 118 GE 1.7 MW wind turbines and produce enough clean, renewable energy to power approximately...

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    • Tax

      Equity Commitments

    • 200.6-megawatt

      wind project

    Close
    2013
    Equity
    Colorado Highlands
    Renewable
    Wind
    Colorado, US

    GE Energy Financial Services and Partners Announce Completion of Expansion at Colorado Highlands Wind Project

    COLORADO, US, Oct 2, 2013 — The expansion of Colorado’s newest renewable energy facility is complete, with the Colorado Highlands Wind project now capable of generating 91 megawatts of electricity for Tri-State Generation and Transmission Association. The facility originally came on-line in December of 2012, with 42 1.6-megawatt GE turbines able to produce 67 megawatts of power. The expansion – which was announced in April and began construction in July – consists of an additional 14 1.7-megawatt GE turbines, increasing the facility’s total current capacity by 36 percent. Tri-State has a 20-year power purchase agreement to receive all the electricity and environmental attributes from the wind farm, which is jointly owned by Alliance Power, Inc. of Littleton, Colo., and GE...

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    "We are pleased to be able to increase the long-term cost-effective renewable energy that our project is generating for Tri-State and its members, while providing other significant benefits to the community."
    — Jim Michael Managing member of Colorado Highlands Wind
    • 67 MW

      of power

    • 14

      1.7-megawatt GE turbines

    Close
    2013
    Equity
    ABW Solar Portfolio
    Renewable
    Solar
    Canada

    First Solar Sells Canadian Power Plants to GE Energy Financial Services-Alterra Partnership

    BELMONT, ONTARIO AND TEMPE, ARIZ., Aug 26, 2013 — First Solar, Inc. (Nasdaq: FSLR) announced today that it has sold a collection of solar projects in Ontario, Canada, totaling 50 megawatts (MW) AC to an investment partnership led by GE (NYSE: GE) unit GE Energy Financial Services. Terms were not disclosed. It is the first project transaction between First Solar and GE since their solar technology and commercial partnership was announced Aug. 6. The ABW Partnership, originally announced in 2011, consists of majority owner GE Energy Financial Services and Alterra Power Corporation, which made an equity contribution and will serve as the projects' managing partner. The ABW Partnership raised debt for the acquisition, with The Manufacturers Life Insurance Company serving as agent and lead arranger. The debt syndicate consists of The...

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    • Three

      Canadian Solar Power Projects

    • 50 megawatts AC

      of Solar Power

    Close
    2013
    Equity
    Panhandle Wind
    Renewable
    Wind
    Carson County, TX

    Pattern, GE, Citi Enter Texas Panhandle Wind Market

    PANHANDLE, TEXAS, Aug 20, 2013 — Tapping into a premier wind resource, Pattern Energy Group LP is starting construction of the 218–megawatt Panhandle Wind Project using Texas' new Competitive Renewable Energy Zone transmission infrastructure and connecting to the state's main power grid operator, the Electric Reliability Council of Texas. GE (NYSE: GE) unit GE Energy Financial Services and Citigroup, Inc. (NYSE: C) unit Citigroup Global Markets, Inc. will invest structured equity in the project. Located on 18,000 acres in Carson County 30 miles from Amarillo, Panhandle Wind will sell power to Citigroup Energy Inc. under a long–term hedge offtake agreement. Pattern — which developed the project, is serving as its managing member and will provide operations and maintenance — is...

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    Pattern, GE, Citi Enter Texas Panhandle Wind Market

    "This investment allows us to grow by expanding our wind portfolio and demonstrates the diverse roles we play in renewable energy transactions."
    — Kevin Walsh Managing Director of Power and Renewable Energy at GE Energy Financial Services
    • Equity

      Interest

    • 218-megawatt

      wind project

    Close
    2013
    Equity
    Invenergy Goldthwaite
    Renewable
    Wind
    Texas, US

    GE Energy Financial Services Invests in Wind Farm Near Austin, Texas

    GOLDTHWAITE, TEXAS, Jul 2, 2013 — GE Energy Financial Services invested structured equity in Invenergy Wind, LLC's 148.6–MW wind project under construction in Mills County, Texas, 100 miles outside Austin. The project uses three GE 2.5–MW "brilliant" turbines that feature short–term battery storage – their world debut – and 83 GE 1.7–MW wind turbines.

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    GE Energy Financial Services Invests in Wind Farm Near Austin, Texas

    • 148.6 MW

      WIND POWER PROJECT

    • World Debut

      2.5 MEGAWATT "BRILLIANT" TURBINES

    Close
    2013
    Equity
    Catalina Solar
    Renewable
    Solar
    California, US

    EDF Renewable Energy Closes Financing on Catalina Solar Project

    MOJAVE DESERT, CALIF., Jan 2, 2013 — EDF Renewable Energy, formerly enXco, announced today that it completed financing on the 143 MW Catalina Solar project in California's Mojave Desert. Majority interest in the project was acquired by a group of investors comprising GE (NYSE: GE) unit GE Energy Financial Services, Metropolitan Life Insurance Company, a wholly owned subsidiary of MetLife, Inc. (NYSE: MET), Union Bank, N.A., and Citi.Located on 1,100 acres of privately owned land southwest of the Tehachapi and Piute mountains, the thin film photovoltaic panel project, under construction since May, began ramping up operation last month and will reach full capacity during the second quarter of this year. The project's clean energy, provided to San Diego Gas & Electric Company, will power the equivalent of 35,000...

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    EDF Renewable Energy Closes Financing on Catalina Solar Project

    • 143 megawatt

      Catalina Solar project

    • Majority

      ownership investment

    Close
    2013
    Equity
    French Wind Portfolio
    Renewable
    Wind
    France

    International Consortium, Including GE's Energy Investing Unit, Acquires 32 Wind Farms in France

    PARIS, FRANCE, Jan 2, 2013 — A consortium comprising GE Energy Financial Services, MEAG –– the asset management arm of Munich Re and ERGO –– and EDF Energies Nouvelles is buying 32 operating wind farms in France from Iberdrola. The portfolio of onshore wind farms, which are spread throughout France and were commissioned in 2006–2012, have a combined capacity of 321.4 megawatts using turbines from a variety of manufacturers. Electricity generated is sold according to long–term contracts under France's feed–in tariff. The transaction is valued at €350 million, plus an earn–out of up to €50 million, depending on production over the next five years. Upon completion of the transaction, subject to regulatory approval, the wind portfolio's ownership will...

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    International Consortium, Including GE's Energy Investing Unit, Acquires 32 Wind Farms in France

    "We are pleased to partner with EDF Energies Nouvelles and MEAG in acquiring a substantial portfolio of operating wind projects in France, and intend to seek additional opportunities to expand our renewable energy assets in Europe."
    — Andrew Marsden London–Based Managing Director and European Leader at GE Energy Financial Services
    • €50 million

      Acquisition

    • 32

      onshore wind farms

    Close
    2012
    Equity
    Post Rock
    Renewable
    Wind
    Kansas, US

    GE, Metlife and Union Bank Invest Nearly $247 Million in Wind Capital Group's Kansas Wind Farm Powered by Turbines

    ELLSWORTH, KAN. AND LINCOLN COUNTIES, KAN., Dec 3, 2012 — A group comprising GE (NYSE: GE) unit GE Energy Financial Services, Metropolitan Life Insurance Company, a wholly owned subsidiary of MetLife, Inc. (NYSE: MET), and Union Bank, N.A., has invested nearly $247 million in Wind Capital Group's recently commissioned 201–megawatt Post Rock wind farm. Wind Capital Group, supported by its parent company, NTR plc, maintains a substantial equity stake and serves as managing member of the project, located 80 miles outside Wichita, Kansas, in Ellsworth and Lincoln Counties. Additional details of the transaction were not disclosed. "We are very pleased to be working with this well–established investor group and look forward to working together in the future. They each played an integral role in making the project a...

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    GE, Metlife and Union Bank Invest Nearly $247 Million in Wind Capital Group's Kansas Wind Farm Powered by Turbines

    • $247 million

      investment

    • 134

      GE 1.5 megawatt wind turbines

    Close
    2012
    Equity
    Prairie Rose
    Renewable
    Wind
    Minnesota, US

    Providing Capital and Technology, GE Advances Partnership with Enel Green Power to Build One of Minnesota Largest Wind Farms

    SOUTHERN MINN., Aug 6, 2012 — Expanding its partnership with global renewable energy company Enel Green Power, GE (NYSE: GE) unit GE Energy Financial Services has committed approximately $156 million in common equity for one of Minnesota's largest wind farms, using GE turbines. The GE unit now owns 51 percent of the 200–megawatt Prairie Rose wind project under construction in southern Minnesota. Enel Green Power North America, a subsidiary of Enel Green Power, committed approximately $149 million for a 49 percent ownership stake and serves as project manager. In addition to capital, GE signed an agreement last year with Enel Green Power North America to supply 119 of GE's 1.68–megawatt wind turbines for the project. The GE unit and Enel Green Power North America also raised approximately...

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    • 51 percent

      ownership stake

    • 119

      GE 1.68 megawatt wind turbines

    Close
    2012
    Equity
    Chisholm View
    Renewable
    Wind
    Oklahoma, US

    GE Partners with Enel Green Power to Power Up One of Oklahoma's Largest Wind Projects

    GRANT, OKLA. AND GARFIELD COUNTIES, OKLA., Apr 2, 2012 — GE (NYSE: GE) unit GE Energy Financial Services has partnered with Enel Green Power North America, Inc. by committing common equity for a 51 percent ownership stake in one of Oklahoma's largest wind projects. The Chisholm View wind project is now under construction near Hunter, 85 miles north of Oklahoma City in Grant and Garfield counties, and is expected to cost approximately $375 million. Enel Green Power North America owns the remaining 49 percent of the 235–megawatt wind farm and serves as project manager. Enel Green Power and GE Energy Financial Services will later raise tax equity for the wind farm. {{quote}} The project will be completed later this year prior to the Federal Production Tax Credit deadline. It will use 140 of GE's 1.6–megawatt wind...

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    GE Partners with Enel Green Power to Power Up One of Oklahoma's Largest Wind Projects

    "Through this deal, we are deepening our partnership with an established wind energy leader, Enel Green Power, and supporting their efforts as a common equity partner, representing an evolution in our US wind investing strategy."
    — Kevin Walsh Managing Director and Leader of Power and Renewable Energy at GE Energy Financial Services
    • 51 percent

      ownership stake

    • 140

      GE 1.6–megawatt wind turbines

    Close
    2012
    Equity
    Arlington Valley Solar Energy II
    Renewable
    Solar
    Arizona, US

    GE Energy Financial Services More Than Doubles Global Solar Power Investments to $1.4 Billion, For $5 Billion in Projects

    ARLINGTON, ARIZ., Feb 29, 2012 — GE (NYSE: GE) unit GE Energy Financial Services announced today it has more than doubled its global solar power investment commitments in the past year to $1.4 billion, for nearly $5 billion in projects. Its latest deal is a $100 million investment in a 127–megawatt project that will be built in Arizona. GE Energy Financial Services announced at the Infocast Solar Power Finance & Investment Summit in San Diego that its one–gigawatt portfolio spans 48 solar power plants – including 24 San Diego school rooftops –– in six countries: Australia, Canada, Italy, Portugal, Spain and the United States. {{quote}} Kevin Walsh, managing director and leader of power and renewable energy at GE Energy Financial Services, added that deploying capital at such large...

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    GE Energy Financial Services More Than Doubles Global Solar Power Investments to $1.4 Billion, For $5 Billion in Projects

    "We started last year with the goal of increasing our investments in solar power given improving solar technologies and decreasing costs, and have exceeded our own expectations by doubling our portfolio, investing in attractive projects across the globe."
    — Alex Urquhart President and CEO of GE Energy Financial Services
    • $1.4 billion

      global solar power investment commitments in the past year

    • 127 megawatt

      solar power project

    Close
    2012
    Equity
    Capricorn Ridge
    Renewable
    Wind
    Texas, US

    Expanding Its Texas Footprint, GE Unit Joins JP Morgan to Jointly Invest $225 Million in Nextera Energy Resources' 662.5 - MW Wind Farm

    SAN ANGELO, TEXAS, Feb 27, 2012 — Expanding its renewable energy portfolio in Texas, GE unit (NYSE: GE) GE Energy Financial Services has joined JP Morgan to jointly invest $225 million in a partnership that owns the 662.5–megawatt Capricorn Ridge wind farm in West Texas. A subsidiary of NextEra Energy Resources, LLC remains the majority owner and operator of the project. Additional financial details of the transaction were not disclosed. NextEra Energy Resources is a subsidiary of NextEra Energy, Inc. (NYSE: NEE). The Capricorn Ridge wind farm has been in operation since 2007 and employs 342 of GE Energy's 1.5–megawatt machines, the world's most widely deployed wind turbine, and 65 of Siemens' 2.3– megawatt machines. The project is located in Sterling and Coke counties in one of...

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    Expanding Its Texas Footprint, GE Unit Joins JP Morgan to Jointly Invest $225 Million in Nextera Energy Resources' 662.5 - MW Wind Farm

    "This investment demonstrates our ability to provide both the capital and equipment for critical energy infrastructure projects in support of GE's broader ecomagination strategy."
    — Kevin Walsh Managing Director and Leader of Power and Renewable Energy at GE Energy Financial Services
    • $225 million

      investment

    • 342

      GE 1.5 megawatt wind turbines

    Close
    2012
    Equity
    Clean Energy Fuels
    Oil & Gas
    N/A
    Texas, US

    GE and Clean Energy Fuels Partner to Expand "America's Natural Gas Highway"

    HOUSTON, TEXAS, Nov 13, 2012 — GE (NYSE: GE) and Clean Energy Fuels (Nasdaq: CLNE) today announced a collaboration to expand the infrastructure for natural gas transportation in the United States. The agreement supports Clean Energy's efforts in developing "America's Natural Gas Highway®," a fueling network that will enable trucks to operate on Liquefied Natural Gas (LNG) coast to coast and border to border. Truck fleets often can reduce fuel costs by more than 25 percent and lower emissions with LNG. As part of the collaboration, Clean Energy Fuels will initially purchase two ecomagination™–qualified MicroLNG plants from GE Oil & Gas. The plug–and–play modular units, which are designed to rapidly liquefy natural gas while minimizing a site's physical footprint,...

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    GE and Clean Energy Fuels Partner to Expand "America's Natural Gas Highway"

    • GE's MicroLNG Technology

      in use at two new LNG facilities

    • New MicroLNG Technology

      Builds on GE Oil & Gas' Global Success in Large LNG Projects

    Close
    2011
    Equity
    Monroe Peaking Power Plant
    Power
    Gas
    Georgia, US

    ArcLight Teams with GE and Singapore's GIC to Form Largest Fully Independent Power Producer in US Southeast

    MONROE, GA., Jan 24, 2011 — ArcLight Capital Partners, LLC ("ArcLight"), GE Energy Financial Services, a unit of GE (NYSE: GE), and the Government of Singapore Investment Corporation Pte Ltd ("GIC") announced today they have agreed to become partners in five Georgia natural gas–fired power plants that together make up the largest fully independent power producer in the southeastern United States. The GE unit and GIC will each acquire 24.95 percent of the portfolio from an affiliate of ArcLight, now its sole owner. An affiliate of ArcLight will retain 50.10 percent.Financial details of the transaction were not disclosed. The closing of the transaction remains subject to approval by the Federal Energy Regulatory Commission and Committee on Foreign Investment in the United States and is...

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    • 24.95 percent

      stake in five natural gas–fired power plants

    • Largest

      fully independent power producer

    Close
    2011
    Equity
    Su Scioffu
    Renewable
    Solar
    Cagliari, Italy

    Sunlight Will Grow Crops While Generating Electricity at Italy Greenhouse Co-Owned by Moser Baer and GE

    CAGLIARI, ITALY, Oct 18, 2011 — A greenhouse nearing completion in Italy will tap the sun's energy to grow crops while generating electricity from its roof–mounted photovoltaic modules in a project co–owned by clean energy developer Moser Baer Clean Energy Limited (MBCEL) and GE (NYSE: GE) unit GE Energy Financial Services. The companies announced today at Solar Power International, a major industry trade show and conference in Dallas, Texas, that GE Energy Financial Services has invested US$58 million in the 20–megawatt project near Cagliari in Sardinia, Italy. The greenhouse solar power project's first five megawatts began providing power to Italy's national electrical grid operator on Aug. 30, and 15 more megawatts are expected to go into service by the end of this month. The project...

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    Sunlight Will Grow Crops While Generating Electricity at Italy Greenhouse Co-Owned by Moser Baer and GE

    "It also demonstrates our interest in investing in development–stage projects, particularly those consistent with GE's ecomagination program."
    — Andrew Marsden Managing Director and European Leader at GE Energy Financial Services
    • 20 megawatt

      Italian solar project

    Close
    2011
    Equity
    Greenko Wind Project
    Renewable
    Wind
    India

    GE, Indian Clean Energy Developer Greenko Announce Venture to Develop Wind Energy Projects Across India

    NEW DELHI, INDIA, Oct 10, 2011 — Expanding GE's footprint in India and connection with one of the country's fastest growing clean energy developers, GE Energy Financial Services and Indian–based Greenko Group plc (AIM: GKO.L) have agreed to invest in a new venture to develop wind energy projects across India. The GE unit will invest US$50 million – its first renewable energy investment in India – to support the development of 500 megawatts of wind projects out of Greenko's planned development of one gigawatt of wind projects in India. Greenko has committed US$65 million for the venture, a newly created subsidiary of Greenko, known as Greenko Wind Project Private Limited. "This investment expands GE's presence in one of the world's fastest growing power markets with a local,...

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    GE, Indian Clean Energy Developer Greenko Announce Venture to Develop Wind Energy Projects Across India

    "In addition to capital, GE Energy Financial Services brings deep wind and other renewable energy expertise gained by building a US$6 billion portfolio of renewable energy investments worldwide."
    — Raghuveer Kurada Managing Director and Leader of India at GE Energy Financial Services
    • 500 megawatts

      in wind power projects

    • Expands GE's

      footprint in India

    Close
    2011
    Equity
    Desert Sunlight Solar Farm
    Renewable
    Solar
    California, US

    First Solar Sells 550-Megawatt Desert Sunlight Solar Farm, Among World's Largest; Hiring Already Under Way of Up to 630 People

    DESERT CENTER, CALIF., Sep 30, 2011 — First Solar, Inc. (Nasdaq:FSLR) today announced completion of the sale of one of the world's largest photovoltaic (PV) solar power projects – the 550–megawatt (AC) Desert Sunlight Solar Farm near Desert Center, Calif. First Solar – which will continue to build and subsequently operate and maintain the project under separate agreements – has sold the project to affiliates of NextEra Energy Resources, LLC, the competitive energy subsidiary of NextEra Energy, Inc. (NYSE:NEE), and GE Energy Financial Services. First Solar estimates that Desert Sunlight will employ up to 630 people for construction, which has begun. Converting sunlight into electricity, the solar power project will provide enough clean, affordable energy to power approximately 160,000...

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    First Solar Sells 550-Megawatt Desert Sunlight Solar Farm, Among World's Largest; Hiring Already Under Way of Up to 630 People

    "We are pleased to be able to expand our position as North America's leading generator of solar power."
    — Mitch Davidson NextEra Energy Resources President and CEO
    • 25%

      Stake

    • World's largest

      PV solar power project

    Close
    2011
    Equity
    Greenough River Solar Farm
    Renewable
    Solar
    Geraldton, Australia

    Australia's First Utility-Scale Solar PV Project Under Way in Western Australia

    GERALDTON, AUSTRALIA, Aug 31, 2011 — First Solar, Inc. (Nasdaq: FSLR), Verve Energy and GE (NYSE: GE) unit GE Energy Financial Services announced today that Australia's first utility–scale solar power project is under way. Output from the 10–megawatt AC project on 80 hectares of cleared land 50km southeast of Geraldton will contribute to offsetting the energy requirements of the Southern Seawater Desalination Plant. Western Australian state–owned power utility Verve Energy and GE Energy Financial Services will each own 50 percent of the Greenough River Solar Farm, with the WA Government providing A$20 million, including A$10 million from the WA Royalties for Regions program. No debt will be raised to fund the project. The WA Water Corporation, which is building the Southern Seawater...

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    Australia's First Utility-Scale Solar PV Project Under Way in Western Australia

    "This transaction enables us to apply our renewable energy investment expertise to a new market, add to our portfolio of projects with First Solar and to GE's broader work with Verve Energy."
    — Jason Willoughby GE Energy Financial Services
    • 0.5

      Stake

    • 1st

      renewable energy investment in Australia

    Close
    2011
    Equity
    Gratiot County Wind Project
    Renewable
    Wind
    Michigan, US

    Invenergy Secures Equity Financing from GE for Gratiot County Wind Project in Michigan

    BRECKNRIDGE, MICH., Oct 5, 2011 — Invenergy Wind LLC ("Invenergy") announced today it has arranged equity financing for its Gratiot County Wind Project ("Gratiot County Wind") in Michigan from GE Energy Financial Services, a unit of GE (NYSE: GE). GE Energy Financial Services will invest an undisclosed amount in the 110.4 megawatt project under construction near Breckenridge, Michigan. "This investment deepens our relationship with Invenergy, marking our fourth investment in its wind projects over the past four years," said Tim Howell, a managing director and the commercial leader of Power and Renewable Energy at GE Energy Financial Services. "It also supports ecomagination, GE's business strategy to create value for customers by solving energy, efficiency and water...

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    Invenergy Secures Equity Financing from GE for Gratiot County Wind Project in Michigan

    "This financing, together with our bank loan facilities that were recently completed, provide Invenergy with a strong investor base for our Gratiot County Wind project."
    — Jim Murphy Chief Financial Officer and Chief Operating Officer of Invenergy
    Close
    2011
    Equity
    Summit Midstream Partners, L.L.C.
    Oil & Gas
    N/A
    Texas, US

    GE Unit Invests in Summit Midstream, an Oil & Gas Midstream Service Provider

    DALLAS, TEXAS, Oct 12, 2011 — GE Energy Financial Services, a unit of GE (NYSE: GE), is expanding its oil and gas industry footprint by investing in Summit Midstream Partners, LLC, which acquires and develops midstream energy infrastructure in unconventional North American production basins. "Our investment in Summit Midstream builds on our strategy of partnering with growth–oriented companies with strong management and long–term contracted assets," said Dan Castagnola, a managing director at GE Energy Financial Services in Houston. "In working with Summit, we are drawing on our experience in many midstream sectors, as well as in unconventional gas." GE Energy Financial Services' current midstream equity and debt portfolio totals approximately $2.4 billion. It has invested in a...

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    • Expansion of O&G

      footprint with an investment in Summit Midstream Partners

    Close
    2010
    Equity
    Nuevo Pemex Cogeneration Plant
    Power
    Gas
    Tabasco, Mexico

    Abengoa, GE to Invest US $180 Million for Mexico's Largest Cogeneration Power Plant, Helping Mexico Meet Energy Efficiency Goals

    TABASCO, MEXICO, Jun 21, 2010 — Subsidiaries of Spain–based Abengoa (MCE: ABG.MC) and GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that they will invest US$180 million to develop the largest cogeneration power plant in Mexico.The 300–megawatt gas–fired facility with a total project cost of US$640 million will be located at the Nuevo Pemex gas processing complex, owned by Pemex Gas y Petroquímica Básica, a subsidiary of Mexican state oil company Pemex. Located near Villahermosa, Tabasco, the plant will supply Nuevo Pemex with power and steam under a 20–year services agreement. Powered by cleaner burning natural gas, the facility will help the Mexican government meet its commitment to reduce greenhouse gas emissions by 50 percent below 2002 levels by the...

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    Abengoa, GE to Invest US $180 Million for Mexico's Largest Cogeneration Power Plant, Helping Mexico Meet Energy Efficiency Goals

    • $72 million

      Equity Investment

    • 300 megawatt

      gas–fired facility

    Close
    2010
    Equity
    CPV Keenan II
    Renewable
    Wind
    Oklahoma, US

    GE Energy Financial Services Invests in Oklahoma Wind Farm, Calls for Stronger US Renewable Energy Incentives

    WODDWARD, OK, Feb 16, 2010 — Maintaining momentum in its renewable energy investing, GE Energy Financial Services, a unit of GE (NYSE: GE), announced today it had made an equity investment in a wind farm CPV Renewable Energy Company is developing in Oklahoma.GE Energy Financial Services is making a $65 million preferred equity investment to fund construction of the CPV Keenan II wind farm, with an option to invest $100 million more inpartnership equity upon commencement of commercial operations. CPV Renewable EnergyCompany –– an affiliate of Competitive Power Ventures, Inc. –– plans to begin construction this month of the 152–megawatt wind farm, 12 miles southwest of Woodward, Oklahoma. The project is scheduled for completion by year's end.The project, estimated to cost $319...

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    GE Energy Financial Services Invests in Oklahoma Wind Farm, Calls for Stronger US Renewable Energy Incentives

    • $319 million

      wind farm in Oklahoma

    • $65 million

      preferred equity investment

    Close
    2009
    Equity
    Dokie Wind Project
    Renewable
    Wind
    British Columbia, Canada

    GE, Plutonic Power, Purchase and Prepare to Resume Construction of British Columbia’s Largest Wind Farm

    VANCOUVER, BC AND STAMFORD, CT, Dec 11, 2009 — GE Energy Financial Services, a unit of GE (NYSE: GE), and Plutonic Power Corporation (TSX:PCC) have completed their purchase and will resume construction of the 300–megawatt Dokie Wind Project, British Columbia's largest wind farm.GE and Plutonic jointly contributed C$52.5 million to purchase the fully permitted project located 1,100 kms northeast of Vancouver from EarthFirst Canada Inc. The companies have formed a partnership through which they will construct and operate the project's first phase, which will have the capacity to generate 144 MW and is expected to reach commercial operation by early 2011. Construction is scheduled to ramp up next month, with most of the work commencing in the spring.The Manufacturers Life Insurance Company (Manulife) (TSX, NYSE: MFC) led...

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    GE, Plutonic Power, Purchase and Prepare to Resume Construction of British Columbia’s Largest Wind Farm

    • C$52.5 million

      Investment

    • 300 megawatt

      Dokie Wind Project

    Close
    2009
    Equity
    Blue Canyon V
    Renewable
    Wind
    Oklahoma, US

    GE Invests $117 Million in EDP Renewables' Oklahoma Wind Farms and Additional $111 Million in Established Wind Farm Portfolio

    LAWTON, OKLA. AND ELGIN, OKLA., Dec 2, 2009 — GE Energy Financial Services, a unit of GE (NYSE: GE), in partnership with Horizon Wind Energy LLC, ––owned by EDP Renewables (NYSE Euronext: EDPR) –– is investing $117 million in an Oklahoma windfarm.Horizon Wind Energy's Blue Canyon V wind farm is a 99 MW expansion of a 225– megawatt wind farm near the small towns of Lawton and Elgin in Comanche County and Apache in Caddo County in southwest Oklahoma. In operation since last month, this project was built with GE 1.5–megawatt turbines and supplies its power to the Public Service Company of Oklahoma under a 20–year contract."Through this transaction, GE Energy Financial Services is putting millions of dollars to work in an attractive wind project in rural America with a developer we...

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    GE Invests $117 Million in EDP Renewables' Oklahoma Wind Farms and Additional $111 Million in Established Wind Farm Portfolio

    • 99 megawatt

      expansion

    • 225 megawatt

      wind farm in Oklahoma

    Close
    2009
    Equity
    Rattlesnake Road
    Renewable
    Wind
    Oregon, US

    GE Invests $117 Million in EDP Renewables' Oklahoma Wind Farms and Additional $111 Million in Established Wind Farm Portfolio

    GILLIAM COUNTY, ORE., Feb 2, 2009 — GE Energy Financial Services, a unit of GE (NYSE: GE), in partnership with Horizon Wind Energy LLC, ––owned by EDP Renewables (NYSE Euronext: EDPR) –– is investing $117 million in an Oklahoma windfarm.Horizon Wind Energy's Blue Canyon V wind farm is a 99 MW expansion of a 225– megawatt wind farm near the small towns of Lawton and Elgin in Comanche County and Apache in Caddo County in southwest Oklahoma. In operation since last month, this project was built with GE 1.5–megawatt turbines and supplies its power to the Public Service Company of Oklahoma under a 20–year contract."Through this transaction, GE Energy Financial Services is putting millions of dollars to work in an attractive wind project in rural America with a developer we...

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    GE Invests $117 Million in EDP Renewables' Oklahoma Wind Farms and Additional $111 Million in Established Wind Farm Portfolio

    • $117 million

      Investment

    • 604 megawatts

      generation from three wind farms

    Close
    2009
    Equity
    Shepherds Flat
    Renewable
    Wind
    Oregon, US

    GE Receives $1.4 Billion Contract to Supply Turbines for Largest Wind Farm Ever Built in the US

    GILLIAM, ORE. AND MORROW COUNTIES, ORE., Dec 10, 2009 — GE (NYSE:GE) announced today it has received a $1.4 billion contract from independent power producer Caithness Energy to supply wind turbines and provide services for an 845–megawatt (MW) wind farm project to be located in Oregon. The wind farm, called Shepherds Flat, has received the majority of the necessary government permits to operate and is ready to be built. When completed it will be larger than any wind farm currently in operation around the globe."This project underscores our commitment to harness the power of wind to meet present and future energy needs while reducing greenhouse emissions. The Shepherds Flat project will add more renewable energy to the west coast's energy mix and help the region meet its demand for clean energy," said Les Gelber, a...

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    GE Receives $1.4 Billion Contract to Supply Turbines for Largest Wind Farm Ever Built in the US

    "GE wind turbines have a strong track record of performance that has been proven in nearly every form of climate worldwide. Their ability to continually advance wind turbine technology will help us to provide our customer, Southern California Edison, with the reliability they expect."
    — Les Gelber a partner at Caithness Energy
    • 845 megawatt

      wind farm project

    • 338

      GE 2.5xl wind turbines

    Close
    2008
    Equity
    Tatanka Wind Farm
    Renewable
    Wind
    North Dakota and South Dakota, US

    GE Unit Partners with Leading Wind Farm Developer in $381 Million Project

    N.D. AND S.D., Aug 11, 2008 — GE Energy Financial Services, a unit of GE (NYSE:GE), announced today it is partnering with ACCIONA, a world leader in wind farm development, and is investing $141 million in the Tatanka Wind Farm on the North Dakota–South Dakota border. The transaction represents the GE unit's first wind equity investment in the Dakotas and the first wind farm in the United States built entirely by ACCIONA (IBEX–35 ANA.MC).GE Energy Financial Services invested with Wachovia Investment Holdings LLC to provide structured equity for the 180–megawatt wind farm, which spans 14,000 acres of farmland in Dickey, McIntosh and McPherson counties in North and South Dakota. The $381 million project, which went into commercial operation last month, uses 120 ACCIONA 1.5 megawatt turbines to...

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    GE Unit Partners with Leading Wind Farm Developer in $381 Million Project

    "We are helping ACCIONA with Tatanka –– whose name is inspired by the Lakota Indian tribal word for the buffalo that once roamed the Midwest –– to charge into the American wind industry with a major project in the best wind farming area of the United States."
    — Tim Howell Managing Director and origination leader of renewable energy at GE Energy Financial Services
    • $381 million

      structured equity investment

    • 120

      ACCIONA 1.5 megawatt turbines

    Close
    2008
    Equity
    The Noble Chateaugay Windpark
    Renewable
    Wind
    New York, US

    GE Unit Surpasses $4 Billion Renewable Energy Mark with NY Wind Farm Investment

    FRANKLIN COUNTY, N.Y., Jul 9, 2008 — With a goal of investing $6 billion in renewable energy by 2010, GE Energy Financial Services surpassed the $4 billion mark today by investing in New York State's three newest wind farms. The unit of GE (NYSE: GE) will invest a total of $100 million in the three wind farms, whose construction began last month."We have reached the $4 billion milestone justfive months after hitting $3 billion, confirming that renewable energy is our fastes t–growing business," said Alex Urquhart, President and CEO of GE Energy Financial Services.{{quote}}GE Energy Financial Services closed more than $2 billion of renewable energy transactions last year, and by 2010 expects they will comprise 20–25 percent of its overall energy and water portfolio, up from about 10 percent in...

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    GE Unit Surpasses $4 Billion Renewable Energy Mark with NY Wind Farm Investment

    "Such project–level investments—coupled with our venture capital investing in clean tech, GE's technology and research—reinforce GE's company–wide leadership in renewable energy."
    — Alex Urquhart President and CEO of GE Energy Financial Services
    • $100 million

      in three Noble Environmental Power wind farms

    • $4 billion

      in renewable energy investments

    Close
    2008
    Equity
    McAdoo
    Renewable
    Wind
    Texas, US

    GE Unit Invests in Texas, Illinois Wind Projects with Invenergy

    DICKENS COUNTY, TEXAS, Mar 17, 2008 — GE Energy Financial Services, a unit of GE(NYSE: GE), is partnering for the third time with leading global wind power developer Invenergy Wind LLC, by investing in Illinois and Texas wind farms that will produce emissions–free electricity equivalent to taking 96,000 average US cars off the road. Together, the two projects will produce nearly 250 megawatts of power.GE Energy Financial Services is investing in the McAdoo wind farm in Dickens County east of Lubbock, Texas, and the Grand Ridge wind farm in La Salle County, Illinois, 80 miles southwest of Chicago. The McAdoo wind energy project will employ 100 GE 1.5–megawatt wind turbines. The Grand Ridge wind project will employ 66 GE 1.5–megawatt wind turbines. Both projects are expected to come online in the third...

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    GE Unit Invests in Texas, Illinois Wind Projects with Invenergy

    • Equity investment

      in Texas and Illinois wind farms

    • Expands

      partnership with Invenergy Wind

    Close
    2008
    Equity
    Forward Energy
    Renewable
    Wind
    Wisconsin, US

    Invenergy Completes Equity Placement for its Forward Energy Wisconsin Wind Farm

    DODGE, WIS. AND FOND DU LAC COUNTIES, WIS., Feb 5, 2008 — Invenergy Wind LLC ("Invenergy") announced the closing of equity financing for its Forward Energy wind farm in Dodge and Fond du Lac Counties, Wisconsin. The equity will be provided by GE Energy Financial Services, a unit of General Electric (NYSE: GE). In October 2007, Invenergy closed construction and term debt financing for this facility. The debt was co–underwritten by Dexia Credit Local and Nord/LB.The Forward Energy wind farm will utilize GE's 1.5MW SLE wind turbines. Eighty–six wind turbines, representing 129 MW of electric capacity, are under construction and the facility is expected to be fully operational by June, 2008. Power will be sold under long–term contracts with Wisconsin Public Service, Wisconsin Power and Light, Madison Gas and...

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    Invenergy Completes Equity Placement for its Forward Energy Wisconsin Wind Farm

    • 1st

      investment in Wisconsin

    • More than triples

      Wisconsin's installed wind energy capacity

    Close
    2008
    Equity
    Hackberry
    Renewable
    Wind
    Texas, US

    GE, RES Partner on New Wind Farm, Adding Clean Energy to Texas Oil Drilling Area

    SHACKELFORD COUNTY, TEXAS, Jan 9, 2008 — GE Energy Financial Services, a unit of GE (NYSE: GE), is investing in a $350 million, 166–megawatt wind generation project to supply Austin with renewable, clean power from an area traditionally better known for oil, ranching and farming.The project's developer, Renewable Energy Systems Americas Inc., is beginning construction of the Hackberry wind farm in Shackelford County 30 miles northeast of Abilene this month, and is scheduled to complete it by December. The project will annually produce power sufficient for 39,000 homes and avoid 389,000 tons a year in greenhouse gas emissions, compared to equivalent fossil fuel generation.The Hackberry wind project will employ 72 Siemens MK II 2.3–megawatt wind turbines. Financial details of the transaction were not...

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    GE, RES Partner on New Wind Farm, Adding Clean Energy to Texas Oil Drilling Area

    "We are delighted to have completed our first investment with RES, deepened our profile in Texas and reinforced our commitment to the wind power and overall renewables sectors."
    — Kevin Walsh Managing Director and Leader of Renewable Energy at GE Energy Financial Services
    • 166 megawatt

      wind generation project

    Close
    2008
    Equity
    Elkhorn Valley
    Renewable
    Wind
    Oregon, US

    GE Unit Boosts 2010 Renewable Energy Investing Target to $6 Billion, Announces Its Largest Wind Deal

    UNION COUNTY, ORE., Jan 14, 2008 — Reinforcing GE's ecomagination program, GE Energy Financial Services announced today that it has raised its 2010 renewable energy investing target by 50 percent to $6 billion, and has just topped $3 billion. GE Energy Financial Services, a unit of GE (NYSE: GE), crossed the $3 billion mark with its single highest–value wind deal, a $300 million investment in wind projects spanning four states.GE Energy Financial Services is investing equity in the 600–megawatt portfolio of wind farms in Oregon, Minnesota, Illinois and Texas owned by Houston–based Horizon Wind Energy LLC, a large US wind farm developer that is a subsidiary of EDP – Energias de Portugal SA. GE Energy Financial Services' goal of investing $6 billion in renewable energy by 2010 is a...

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    • Tallest wind farm

      in the United States

    • 101 megawatt

      project in Smoky Hills, Kansas

    Close
    2008
    Equity
    Snyder Wind
    Renewable
    Wind
    Texas, US

    Enel, GE Soar to New Heights At Texas Wind Farm with Tallest Turbine Towers in US, Also Partner on Kansas Wind Project

    SCURRY COUNTY, TEXAS, Jan 10, 2008 — Enel SpA, through its subsidiary Enel North America, Inc., announced today the completion of a wind farm in Texas with the tallest utility–scale wind turbines in the United States as well as investments by an affiliate of GE Energy Financial Services, the energy investing unit of GE (NYSE: GE).The Snyder Wind project in Scurry County, Texas, between Abilene and Lubbock, comprises 21 Vestas V90 3.0 megawatt wind turbines mounted on towers measuring a record–breaking 345 feet. Construction was completed in December 2007."The Snyder project takes both wind and Enel to new heights," said Toni Volpe, Enel North America CEO. "The project represents the first of several wind farms slated to come online in the next 12 months which will more than triple Enel North...

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    Enel, GE Soar to New Heights At Texas Wind Farm with Tallest Turbine Towers in US, Also Partner on Kansas Wind Project

    • Investment in

      the U.S.'s tallest wind farm

    • Invesment in

      101–megawatt project at Smoky Hills, Kansas

    Close
    2008
    Equity
    Toyota Motor Sales
    Renewable
    Solar
    California, US

    GE Unit Partners with Sunpower on California Solar Projects; Multi-Project Financing Agreement Streamlines Solar Power System Implementation

    ONTARIO, CALIF., Jan 7, 2008 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that it is partnering with SunPower Corporation (NASDAQ: SPWR) –– a Silicon Valley–based manufacturer of high–efficiency solar cells, solar panels, and solar systems –– to provide financing for five California solar power projects. The projects, totaling approximately eight megawatts, include a system for Toyota Motor Sales' Parts Center that will be the largest single–roof solar power installation in the United States. The companies are also collaborating on solar projects for HP, Agilent and two county and regional agencies.Formed in the spirit of GE's ecomagination program, the joint venture streamlines the implementation of large commercial and public solar...

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    GE Unit Partners with Sunpower on California Solar Projects; Multi-Project Financing Agreement Streamlines Solar Power System Implementation

    • Multi–project financing agreement

      for five CA solar power projects, totaling approximately 8 megawatt

    • Streamlines

      the implementation of large commercial and public solar power systems

    Close
    2007
    Equity
    Shady Hills Power Plant
    Power
    Gas
    Florida, US

    GE Unit Agrees to Acquire Fully-Contracted, Contemporary Power Plant Serving the Growing Central Florida Market

    TAMPA, FLA., May 9, 2007 — GE Energy Financial Services agreed to purchase the 517–megawatt Shady Hills power plant, located approximately 30 miles north of Tampa, Florida from LS Power Equity Partners, a member of LS Power Group, the private power sector investor, developer and manager, the companies announced today. Financial details were not disclosed. The transaction is subject to regulatory approvals and customary closing conditions.Employing three GE Frame 7FA gas turbines, the Shady Hills plant began commercial operation as a peaker plant – generating power during periods of peak demand – in March 2002. The duel–fueled (natural gas and low sulfur fuel oil) simple–cycle power plant facility's entire output is contracted to a local utility through 2024. Operation...

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    GE Unit Agrees to Acquire Fully-Contracted, Contemporary Power Plant Serving the Growing Central Florida Market

    • 517 megawatt

      power plant

    • 3

      GE Frame 7FA gas turbines

    Close
    2007
    Equity
    Stanton Wind Energy L.L.C.
    Renewable
    Wind
    Texas, US

    GE Unit Invests In New Texas Wind Projects with Invenergy

    STANTON, TEXAS, Nov 1, 2007 — GE Energy Financial Services, a unit of General Electric Company (NYSE: GE), is investing in a 120–megawatt wind farm in Texas with Invenergy Wind LLC, a leading global wind power developer.GE Energy Financial Services is investing in the Stanton Wind Energy LLC project. Financial details were not disclosed. Sited in a region known for oil and gas production, farming and ranching in Martin County in west Texas, midway between Fort Worth and El Paso, the Stanton Wind farm will employ 80 GE 1.5–megawatt sle wind turbines. Started in the summer of 2007, construction is scheduled for completion by April 2008, when Stanton will annually produce power sufficient for 37,000 homes and avoid 285,000 tons a year in greenhouse gas emissions, compared to equivalent fossil fuel...

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    GE Unit Invests In New Texas Wind Projects with Invenergy

    • 37,000 homes

      Powered Annually

    • 80

      GE 1.5–megawatt SLE Wind Turbines

    Close
    2007
    Equity
    Champion Wind Farm
    Renewable
    Wind
    Texas, US

    GE Invests in Third Airtricity Wind Farm in Texas, Again Helping Customer Grow in Booming US Wind Market

    ROSCOE, TEXAS, Sep 20, 2007 — GE Energy Financial Services, a unit of General Electric (NYSE: GE), is helping renewable energy company Airtricity, Inc. grow in the booming US wind energy market and boosting its own portfolio by investing in a 126.5–megawatt wind farm under construction in West Texas.GE Energy Financial Services is investing alongside Airtricity – the project developer and operator –– in the $231 million Champion Wind Farm in Roscoe in Mitchell and Nolan counties, 40 miles southwest of Abilene in a cotton farming area. This is GE Energy Financial Services' third wind farm investment with Airtricity and Airtricity's first project in North America not governed by a traditional long–term power purchase agreement. Additional financial details were not...

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    GE Invests in Third Airtricity Wind Farm in Texas, Again Helping Customer Grow in Booming US Wind Market

    • $231 million wind project

      utilizing 55 2.3–megawatt Siemens turbines

    • 126.5 megawatt

      West Texas wind farm

    Close
    2007
    Equity
    Scholl Canyon Landfill
    Renewable
    Biomass
    California, US

    GE Diversifies in Renewable Energy, Acquires One of Nation's Largest Landfill Gas Projects, in California

    GLENDALE, CALIF., Jul 17, 2007 — GE Energy Financial Services, the energy investing unit of GE (NYSE:GE), is diversifying its renewable energy portfolio by increasing its investment in one of the largest landfill gas–to–energy projects in the United States. GE Energy Financial Services acquired a 90 percent interest in a limited partnership that operates the Scholl Canyon Landfill gas project in Glendale from Scholl Canyon Landfill Gas Corp., an affiliate of Palmer Capital Corp., which will continue to manage and direct the operations.No financial information about the transaction was disclosed.The new GE investment, building on loans it acquired for the project in 2002, helps the environment by capturing and using methane, a powerful greenhouse gas that decomposing landfill waste emits. The methane would...

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    GE Diversifies in Renewable Energy, Acquires One of Nation's Largest Landfill Gas Projects, in California

    • 0.9

      interest acquisition

    • One of the U.S.'s

      largest landfill gas projects

    Close
    2007
    Equity
    Noble Clinton Windpark
    Renewable
    Wind
    New York, US

    GE Unit's First Investments in NY Wind Energy to Boost State's Wind Power by Over 70 Percent

    CLINTON COUNTY, N.Y., Jun 25, 2007 — GE Energy Financial Services, a unit of GE (NYSE: GE), will help boost wind energy capacity in New York State by more than 70 percent with an investment in three Noble Environmental Power windparks that will generate 282 megawatts in Clinton and Wyoming Counties. The GE unit's first investment in wind energy in New York State will increase the state's wind energy capacity to 671 megawatts. The projects, located in the towns of Clinton and Ellenburg in Clinton County, and Bliss in Wyoming County, New York, represent a $564 million investment in clean, renewable energy that will bring an estimated $352 million in new revenue to the regional economies over the next 20 years.GE Energy Financial Services will invest the Class A equity as the non–managing member and Noble...

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    • First Iinvestment

      In Wind Energy in New York State

    • 282 megawatt

      Generation

    Close
    2007
    Equity
    Allegheny Ridge II
    Renewable
    Wind
    Pennsylvania, US

    GE Unit Makes One of Its Largest Wind Portfolio Investment Commitments; Wind Farms in California, Illinois, New Mexico, Pennsylvania

    CAMBRIA, PA. AND BLAIR COUNTIES, PA., Feb 15, 2007 — GE Energy Financial Services, a unit of General Electric (NYSE: GE), announced today that it has committed to invest in a 410–megawatt wind farm portfolio, among its single largest wind investments. GE Energy Financial Services has committed to invest approximately $270 million for 70 percent of the Class A equity, with a subsidiary of Wachovia Corp. (NYSE: WB), providing the balance, in six wind farms in California, Illinois, New Mexico and Pennsylvania, until now wholly owned by affiliates of global investment and advisory firm Babcock & Brown (ASX: BNB). Affiliates of Babcock & Brown will be the manager and will remain as Class B equity co–investors in the portfolio. Additional financial details were not disclosed. GE Energy Financial Services made the...

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    • $270 million

      Invesment

    • Six Wind Farms

      In Four States

    Close
    2007
    Equity
    Bobcat Gas Storage
    Oil & Gas
    N/A
    Louisiana, US

    GE Unit Makes First Investment in Natural Gas Storage, Expanding Its Midstream Assets

    ST. LANDRY PARISH, LA., Feb 21, 2007 — GE Energy Financial Services, a unit of General Electric (NYSE: GE), is making its first investment in natural gas storage, acquiring a preferred equity interest in an underground salt dome storage project in Louisiana for $65 million from Haddington Energy Partners III LP, a Houston–based, energy–focused private equity fund.The investment, which will also help cover the project's capital expenditures, enables GE Energy Financial Services to expand in midstream energy, where it already co–owns pipelines, retail distribution and gas processing assets.The Bobcat gas storage project –– which the fund's sponsor, Haddington Ventures, LLC, sourced and developed –– is strategically located in St. Landry Parish, Louisiana, 45 miles from Henry...

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    GE Unit Makes First Investment in Natural Gas Storage, Expanding Its Midstream Assets

    • First Investment

      In Natural Gas Storage

    • Expands

      Efforts in Midstream Energy

    Close
    2006
    Equity
    Tynagh Power Plant
    Power
    Gas
    County Galway, Ireland

    Forty Percent Stake in Ireland's Newest, Highly Efficient Power Plant to Be Acquired by GE Energy Financial Services

    COUNTY GALWAY, IRELAND, May 18, 2006 — GE Energy Financial Services announced today that it has agreed to acquire a 40 percent interest in Ireland's newest and most efficient natural gas–fired power plant, subject to customary closing conditions.GE Energy Financial Services is acquiring the stake in the 400–megawatt Tynagh power plant in County Galway from GAMA Construction Ireland Ltd, part of GAMA Holding AS. GAMA retains a 40 percent interest in the plant, which commenced operations in March 2006. GAMA, working in a joint venture with General Electric International, began construction of the plant in March 2004. The construction period was one of the shortest to date worldwide for this highly efficient technology.{{quote}}Andrew Marsden, Managing Director of GE Energy Financial Services' European...

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    Forty Percent Stake in Ireland's Newest, Highly Efficient Power Plant to Be Acquired by GE Energy Financial Services

    "We are very pleased to be investing in Tynagh Energy. Tynagh is a first class project which benefits from state of the art equipment, a supportive contractual structure and experienced operators."
    — Alex Urquhart President and CEO of GE Energy Financial Services
    • 0.4

      Stake in GAMA Power Plant

    • 400 megawatt

      gas–fired power plant

    Close
    2006
    Equity
    Russell City Energy Center
    Power
    Gas
    California, US

    Calpine Recieves Court Approval to Sell An Interest in Its Russell City Energy Center to GE Energy Financial Services

    SAN JOSE, CALIF., Sep 21, 2006 — The U.S. Bankruptcy Court for the Southern District of New York today approved the sale of a 35–percent equity interest in Calpine Corporation's [OTC Pink Sheets: CPNLQ] Russell City Energy Center to GE Energy Financial Services for approximately $44 million. Calpine will own the remaining 65–percent interest. GE Energy Financial Services' equity will be applied toward completion of development and construction of the power plant, and it also will provide related credit support for the project. The Russell City Energy Center is a proposed 600–megawatt, natural gas–fired power plant to be built in Hayward, Calif. that will help power the San Francisco Bay Area."With the growing demand for power in California, especially the Bay Area, the Russell City...

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    • 35%

      equity interest

    • $44 million

      equity investment

    Close
    2006
    Equity
    Linden Power Plant
    Power
    Gas
    New Jersey, US

    Statement Regarding the Linden Power Plant

    LINDEN, N.J., Feb 28, 2006 — GE Energy Financial Services has agreed to acquire the common equity of East Coast Power LLC, holder of the general partner interests in the more than 900–megawatt Linden power plant in New Jersey, from Goldman Sachs. The acquisition follows GE Energy Financial Services' strategy of growing by investing in energy infrastructure.Linden is among the biggest and most efficient power producers in the critical New York–New Jersey market, a plant Energy Financial Services knows well because GE Energy supplied the turbines for the plant and operates it. In addition, Energy Financial Services financed Linden's construction and has made partnership equity and debt investments in it. GE's proprietary power market models confirm the plant's long–term value and...

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    Statement Regarding the Linden Power Plant

    • 900 megawatt

      Linden power plant in New Jersey

    • one of the biggest

      and most efficient power producers in the NY and NJ markets

    Close
    2006
    Equity
    SourceGas
    Oil & Gas
    N/A
    Colorado, Nebraska, Wyoming, US, and Hermosillo, Mexico

    Kinder Morgan, Inc. Agrees to Sell Retail Gas Operations to GE Energy Financial Services.GE Unit Expanding Its Pipeline Investing Into Retail Gas Distribution

    COLO., NEB., WYO., AND HERMOSILLO, MEXICO, Aug 14, 2006 — Kinder Morgan, Inc. (NYSE: KMI) today announced it will sell its natural gas retail distribution and related operations serving 260,000 customers in Colorado, Nebraska, Wyoming and Hermosillo, Mexico, to GE Energy Financial Services for $710 million plus working capital. The transaction is subject to certain closing conditions and regulatory approvals, including approvals from state utility commissions. The transaction is expected to close by the end of the first quarter of 2007.The retail business serves residential, commercial, agricultural and industrial customers through 11,400 miles of distribution and transmission pipelines, underground storage fields, fieldsystem lines and related facilities.KMI Chairman and CEO Richard D. Kinder said, "This is a good business that...

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    • $710 million

      Equity Investment

    • 11,400 miles

      Distribution Pipelines

    Close
    2005
    Equity
    Southern Star
    Oil & Gas
    N/A
    Kansas, Oklahoma, Missouri, Wyoming, Nebraska, Colorado and Texas, US

    GE Commercial Finance and Caisse De Depot Et Placement Du Quebec Agree to Buy Major Midwestern Gas Pipeline From AIG Highstar Capital

    KAN., OKLA. MO., WYO., NEB., COLO., AND TEXAS, Jul 11, 2005 — GE Commercial Finance Energy Financial Services – a major global energy investor – and Caisse de dépt et placement du Québec – Canada's largest institutional investor – have agreed to buy the Southern Star gas pipeline system from AIG Highstar Capital. The purchase price is $362 million, plus the assumption of $476 million in debt and preferred stock.The sale is subject to customary closing and regulatory approvals, expected within the third quarter of this year. Southern Star is a regulated interstate natural gas pipeline spanning more than 6,000 miles in Kansas, Oklahoma, Missouri, Wyoming, Nebraska, Colorado and Texas. In addition to the pipeline, the system includes 39 compressor stations and eight gas storage fields. Customers include...

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    GE Commercial Finance and Caisse De Depot Et Placement Du Quebec Agree to Buy Major Midwestern Gas Pipeline From AIG Highstar Capital

    • 6,000 miles

      Southern Star Gas Pipeline

    • $476 million

      Debt and preferred stock

    Close
    2004
    Equity
    ACE Power Plant
    Power
    Coal
    California, US

    El Paso Corporation Closes Sale of Interest in ACE Power Plant

    TRONA, CALIF., Sep 20, 2004 — El Paso Corporation (NYSE:EP) announced today that it has closed the sale of an approximate 35–percent interest in the ACE power plant to an affiliate of GE Commercial Finance's Energy Financial Services (EFS), for $50.4 million and the sale of an approximate 13–percent interest in the plant to Northern Star Generation, LLC for approximately $19.5 million. The plant is a 102–megawatt coal–fired facility located in Trona, California.The ACE power plant was among the 25 domestic power plants that El Paso had agreed to sell to Northern Star Generation, LLC. An affiliate of EFS had a right of first refusal to purchase the 35–percent interest and exercised that option accordingly. Per its existing agreement, Northern Star purchased El Paso's remaining...

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    El Paso Corporation Closes Sale of Interest in ACE Power Plant

    • 102 megawatt

      coal–fired ACE Power Plant

    Close
    2004
    Equity
    Oyster Creek
    Power
    Gas
    Texas, US

    Dynegy Provides Update on Sale of Interests in Non-Core Generation Assets

    FREEPORT, TEXAS, Mar 31, 2004 — Dynegy Inc. (NYSE: DYN) today provided an update on its previously announced agreements to sell its 50 percent interests in the 424–megawatt Oyster Creek natural gas–fired qualifying facility (QF) located in Freeport, Texas and the 123–megawatt Michigan Power natural gas–fired QF located near Ludington, Mich. The buyer of Dynegy's Oyster Creek interest will be an affiliate of GE Commercial Finance's Energy Financial Services unit. The two transactions, which are expected to close early in the second quarter of 2004, are subject to the receipt of required lender and counterparty consents. The total proceeds generated by the two sales are anticipated to be approximately $103 million, which will result in a net, pre–tax gain of approximately $15...

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    • 0.5

      interest

    • 424 megawatt

      natural gas–fired qualifying facility

    Close
    2004
    Equity
    CrossCountry Energy
    Oil & Gas
    N/A
    Florida to California, US

    Natural Gas Pipeline Acquisition, Largest for GE Commercial Finance Energy Financial Services, Caps Year of Record Growth

    FLA. TO CALIF., Nov 17, 2004 — GE Commercial Finance Energy Financial Services, in partnership with Southern Union Company (NYSE: SUG), completed the acquisition today of CrossCountry Energy, a 7,400–mile natural gas pipeline network spanning most of the region from Florida to California. This $2.45 billion purchase is GE Commercial Finance Energy Financial Services' largest in natural gas transportation and caps a year of record growth and diversification.Diversification beyond electric power investments has been a key to GE Commercial Finance Energy Financial Services' double–digit growth this year. Other strategic actions include growing in oil and gas reserves and electricity transmission and distribution. In addition, GE Commercial Finance Energy Financial Services has been expanding into...

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    "Our partnership with Southern Union reflects our keen interest in teaming up with leading energy companies to help them grow."
    — Alex Urquhart President and CEO of GE Commercial Finance Energy Financial Services
    • Largest Pipeline Acquisition

      for GE Energy Financial Services

    Close
    2014
    LP
    Vess Oil Corp.
    Oil & Gas
    N/A
    College Station, TX

    GE Energy Financial Services, Vess Oil, Partner for Third Time to Acquire East Texas Oil and Gas Reserves

    COLLEGE STATION, TX, Jan 8, 2014 — GE Energy Financial Services, a unit of GE (NYSE: GE), has formed its third partnership with a Vess Oil Corp. affiliate to purchase oil reserves in East Texas for $108 million. The partnership is acquiring approximately 13,000 net acres and associated Woodbine production from an affiliate of EnerVest, Ltd. The assets are located approximately 20 miles northeast of College Station in Brazos, Madison and Grimes counties, and the target zones are the existing Woodbine and prospective Eagle Ford formations. GE Energy Financial Services invested $77 million for a majority stake and limited partner role, with a Vess Oil affiliate acquiring the remaining interest and serving as general partner and operator. Additional financial details were not disclosed. The companies partnered...

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    " We are excited to be partnering again with the Vess team. This transaction contributes to the growth not only of Vess but also the seller, EnerVest, both of which have played a significant role in our success over the past two decades. "
    — Ray Edgar Managing Director and leader of the Oil and Gas team at GE Energy Financial Services
    • Majority

      Limited Partership

    • 13,000 net acres

      oil & gas reserves

    Close
    2012
    LP
    Howard Energy Partners
    Oil & Gas
    N/A
    Texas, US

    Fueling Unconventional Oil & Gas Infrstructure, GE Unit Backs Howard Energy Partners' Acquistion of South Texas Gas Pipeline

    SAN ANTONIO, TEXAS, Mar 15, 2012 — Fueling the build out of unconventional oil, gas and gas liquids infrastructure to support North American shale, GE (NYSE: GE) unit GE Energy Financial Services has invested in Howard Energy Partners, owner and operator of 280 miles of natural gas pipelines in the Eagle Ford Shale of South Texas. Howard Energy will double its size by using the investment to partially fund the acquisition of Meritage Midstream Services' natural gas gathering assets in South Texas.GE acquired a 30.6 percent stake in Howard Energy for an undisclosed amount. Other investors were Crosstex Energy, L.P. (NASDAQ: XTEX), Quanta Services, Inc. (NYSE: PWR) and Clear Springs Energy Company LLC. This transaction is expected to close in April, subject to regulatory approvals and customary closing conditions. ...

    Read Full Press Release
    • 0.306

      Stake in Howard Energy Partners

    • 185 miles

      of Meritage pipelines

    Close
    2012
    LP
    Burnett Petroleum Co.
    Oil & Gas
    N/A
    Texas, US

    GE Energy Financial Services Invests Approximately $31 million in Proven and Operational Oil Reserves in East Texas

    TEXAS, US, Jan 1, 2012 — GE Energy Financial Services committed approximately $31 million for an interest in the Talco Field, Titus and Franklin counties through a limited partnership with Dallas–based independent oil and gas company Burnett Petroleum Co. With this and other transactions, GE Energy Financial Services has invested more in oil and gas partnerships in Texas than in any other state.

    Read Full Press Release
    • $31 million

      investment in East Texas oil reserves

    Close
    2011
    LP
    Gulf LNG
    Oil & Gas
    N/A
    Mississippi, US

    Lightfoot Capital Partners, LP Teams Up with GE to Own Liquefied Natural Gas Assets in Pascagoula, Mississippi

    PASCAGOULA, MISS., Oct 4, 2011 — Lightfoot Capital Partners, LP is pleased to announce that it has teamed up with GE Energy Financial Services, a unit of GE (NYSE: GE), to make a strategic investment in the liquefied natural gas market. Lightfoot Capital will make a direct investment and own a 48 percent interest in Arc LNG Holdings LLC, which will own a 20 percent interest in Gulf LNG Energy's terminal in Pascagoula, Mississippi. GE Energy Financial Services, directly and indirectly, controls its 50 percent stake in Gulf LNG while a subsidiary of El Paso Corporation controls the other 50 percent and is the operator. In a related transaction, GE Energy Financial Services acquired a general partnership interest and a 58 percent limited partnership interest in Lightfoot Capital from certain of its existing...

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    Lightfoot Capital Partners, LP Teams Up with GE to Own Liquefied Natural Gas Assets in Pascagoula, Mississippi

    • 3.6 million barrel

      Storage Capacity

    • 0.5

      Stake in Gulf LNG

    Close
    2011
    LP
    PRE Resources, Inc.
    Oil & Gas
    N/A
    Wyoming and Colorado, US

    PRE Resources, GE Unit, Partner to Buy Rocky Mountain Oil & Gas Reserves

    WYO. AND COLO., Oct 13, 2011 — Expanding their Rocky Mountain oil and gas reserves footprint, PRE Resources, Inc. is teaming up with GE Energy Financial Services, a unit of GE (NYSE: GE), to buy more than 100 producing wells and undeveloped acreage across 29 fields in Wyoming and Colorado. GE Energy Financial Services provided $46 million and committed to additional capital expenditures to form a partnership with Denver–based PRE Resources to buy the fields spread across Weston, Campbell, Crook, Niobrara and Hot Springs counties, WY, as well as Moffat County, CO. The seller was undisclosed. PRE Resources is investing $5 million in the acquisition and will serve as general partner and operator, with GE Energy Financial Services serving as limited partner. The fields feature primarily long–lived oil...

    Read Full Press Release
    • Expands

      Rocky Mountain oil and gas reserves footprint

    • 100+

      producing wells

    Close
    2010
    LP
    Marlin Permian, L.P.
    Oil & Gas
    N/A
    Texas, US

    GE Unit Partners with Independent E&P Companies to Acquire West Texas and Rocky Mountain Oil & Gas Reserves for $200 Million

    WEST TEXAS, Feb 10, 2010 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that it has formed partnerships to acquire West Texas natural gas and North Dakota oil and gas reserves for a total of $200 million.In the first transaction, GE Energy Financial Services formed a partnership with independent oil and gas company Marlin Energy LLC. Their new alliance, Marlin Permian, LP, acquired natural gas reserves in West Texas from an undisclosed seller for $65 million. GE Energy Financial Services will serve as limited partner. Marlin Energy, based in Lafayette, LA, will serve as both general partner of the partnership and operator of the assets.In the second transaction, GE Energy Financial Services has formed a partnership with Sequel Energy, LLC to acquire oil and gas reserves in the Williston...

    Read Full Press Release
    "GE Energy Financial Services' oil and gas partnership structure will help both Marlin and Sequel realize maximum potential from their respective acquisitions."
    — John Schaeffer Managing Director and head of the oil and gas unit at GE Energy Financial Services
    • $200 million

      investment in West Texas natural gas reserves

    Close
    2009
    LP
    Regency Energy Partners L.P.
    Oil & Gas
    N/A
    Texas, US

    First Solar Sells Canadian Power Plants to GE Energy Financial Services-Alterra Partnership

    BELMONT, ONTARIO AND TEMPE, ARIZ., Aug 26, 2013 — First Solar, Inc. (Nasdaq: FSLR) announced today that it has sold a collection of solar projects in Ontario, Canada, totaling 50 megawatts (MW) AC to an investment partnership led by GE (NYSE: GE) unit GE Energy Financial Services. Terms were not disclosed. It is the first project transaction between First Solar and GE since their solar technology and commercial partnership was announced Aug. 6. The ABW Partnership, originally announced in 2011, consists of majority owner GE Energy Financial Services and Alterra Power Corporation, which made an equity contribution and will serve as the projects' managing partner. The ABW Partnership raised debt for the acquisition, with The Manufacturers Life Insurance Company serving as agent and lead arranger. The debt syndicate consists of The...

    Read Full Press Release
    • Three

      Canadian Solar Power Projects

    • 50 megawatts AC

      of Solar Power

    Close
    2008
    LP
    Union Gas Production Partners, L.P.
    Oil & Gas
    N/A
    Texas, US

    GE Unit and Union Gas Invest $115 Million to Acquire East Texas and Gulf Coast Oil & Gas Reserves, Plan $29 Million More in Field Development

    EAST TEXAS AND THE TEXAS GULF COAST, Apr 1, 2008 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today it has formed a partnership with a Union Gas Corporation subsidiary and related investors to acquire oil and gas reserves from two fields in East Texas and the Texas Gulf Coast for $115 million. GE Energy Financial Services is investing $104 million as the 90 percent limited partner. Union Gas is investing the balance as the 10 percent general partner and operator. The new alliance, Union Gas Production Partners, L.P., plans to invest an additional $29 million to develop and produce proved reserves over the next two years.Additional financial and operational details of the transaction were not disclosed."Our new partnership combines the Union Gas team's exploration and operating experience with the...

    Read Full Press Release
    "Allying with a strong institutional partner allows us to accelerate the development of our reserves to grow our production and cash flow at reasonable costs."
    — Randy Lowry President of Union Gas
    • $115 million

      oil and gas reserves investment

    • $29 million

      expected investment to develop and produce proved reserves

    Close
    2008
    LP
    OKLA Energy Partners, L.P.
    Oil & Gas
    N/A
    Oklahoma, US

    GE Unit and GeoResources Investing Up to $91 Million in Oklahoma Oil & Gas Reserves

    OKLA., Jun 2, 2008 — Partnering for a third time, GE Energy Financial Services, a unit of GE (NYSE: GE), and GeoResources, Inc. (NASDAQ: GEOI), a Houston–based exploration and production company, are investing up to $90.5 million to acquire and develop proven producing oil and gas reserves in Oklahoma.GE Energy Financial Services and GeoResources formed a new partnership, OKLA Energy Partners, LP, to acquire 82 percent of the assets from a group of private sellers. A wholly owned subsidiary of GeoResources will purchase the remaining 18 percent. The two entities entered into a purchase and sale agreement with the sellers to acquire the reserves for $60.5 million and expect to invest up to $30 million to develop additional proven reserves. The GE unit is investing 98 percent as limited partner in...

    Read Full Press Release
    "The Oklahoma properties bring long–lived gas reserves and a large drilling inventory to our portfolio, establishing a significant footprint in Oklahoma for future expansion."
    — Frank A. Lodzinski Chief Executive Officer of GeoResource
    • 82%

      stake in oil and gas reserves

    • $30 million

      expected investment to develop additional proven reserves

    Close
    2008
    LP
    TriTex Energy A, L.P.
    Oil & Gas
    N/A
    New Mexico, US

    In Fifth New Oil & Gas Investment This Year, GE Unit & Tritex Provide Up To $45 Million to Acquire, Develop Oil & Gas Reserves in New Mexico

    SOUTHEASTERN N.M., Nov 4, 2008 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today it has formed a partnership with TriTex Energy, LLC to acquire proved oil and gas reserves in southeastern New Mexico for $31 million. GE Energy Financial Services has invested more than $360 million in proved oil and gas reserves in five transactions this year, an annual record for the business.GE Energy Financial Services is investing $30 million as the 98 percent limited partner. TriTex Energy, LLC is investing the balance as the 2 percent general partner and operator. The new alliance, TriTex Energy A, LP, plans to invest an additional $14 million to develop and produce proved reserves over the next two years. Additional financial and operational details of the transaction were not disclosed.{{quote}}"This...

    Read Full Press Release
    "GE was able to close this transaction in one of the most difficult banking and commodities markets imaginable. Their financial and technical strengths make them a great partner."
    — Don Ritter President of TriTex Energy, LLC
    • $31 million

      invesment in oil and gas reserves

    • $14 million

      expected investment for development and production

    Close
    2007
    LP
    Bays Exploration Inc.
    Oil & Gas
    N/A
    Oklahoma, US

    GE Unit Invests $154 Million with Exploration Companies to Acquire Oil & Gas Reserves in Oklahoma and Texas, Invest in Field Development

    OKLA. AND TEXAS, May 8, 2007 — GE Energy Financial Services announced today it has partnered with two experienced operators to acquire $154 million in oil and gas reserves in Oklahoma and Texas.With Bays Exploration Inc., the GE unit acquired oil and gas reserves with significant development opportunities in western Oklahoma for $79 million. In addition, Energy Financial Services plans to invest up to $60 million for the development of the reserves. In the second transaction, GE Energy Financial Services partnered with Southern Bay Energy, a subsidiary of GeoResources, Inc. (NASDAQ: GEOID) to acquire oil and gas properties in the Austin Chalk trend of East Texas for $75 million. GE Energy Financial Services plans to invest an additional $27 million for the development of these properties.Additional financial...

    Read Full Press Release
    • $60 million

      investment for development of O&G reserves

    Close
    2006
    LP
    West Coast Energy Properties, L.P.
    Oil & Gas
    N/A
    California and Texas, US

    Clayton Williams Energy, GE Energy Financial Services Acquire California and Texas Oil & Gas Properties

    CALIF. AND TEXAS, Aug 14, 2006 — Clayton Williams Energy, Inc. (NASDAQ–NMS:CWEI) and GE Energy Financial Services announced today that an affiliated partnership, West Coast Energy Properties, L.P., has acquired certain producing oil and gas assets in California and Texas for $58 million.Clayton Williams Energy has attributed estimated proved reserves totaling 4.9 million barrels of oil and natural gas liquids and 3.7 Bcf of natural gas to the acquired properties. More than 60% of these estimated proved reserves are classified as proved developed producing reserves. Approximately 75% of the purchase price relates to properties in th ree fields in southern California, and the remaining 25% relates primarily to properties located in Mitchell County, Texas.West Coast Energy Properties, L.P. is a Texas limited...

    Read Full Press Release
    • $58 million

      investment in O&G reserve assets

    • 4.9 million

      barrels of oil and natural gas liquids

    Close
    2006
    LP
    Sunland Production Partners, L.P.
    Oil & Gas
    N/A
    Louisiana, North America

    GE Energy Financial Services Partners with Sunland Resources to Acquire and Develop Louisiana Gas and Oil Fields

    LOUISIANA, Oct 26, 2006 — GE Energy Financial Services and Sunland Resources, LLC announced today the acquisition of natural gas and oil reserves in northern Louisiana for $101 million. The properties were acquired from a consortium led by Caruthers Producing Co., Inc. and include 26 producing wells, two proved, developed nonproducing wells, and 11 low risk, proved, undeveloped drilling locations in the Caspiana and Black Creek fields.GE Energy Financial Services holds a majority limited partnership interest in Sunland Production Partners, L.P., the partnership formed with Sunland Resources, LLC for the reserve acquisition, and will share in capital expenditures to develop the reserves. Sunland Resources, LLC is the General Partner and Sunland Production Company, Inc. is the operator of the fields. Reserve...

    Read Full Press Release
    • $101 million

      investment in natural gas and oil reserves

    • 26 producing well

      and two proved, developed non–producing wells,

    Close
    2005
    LP
    Crucero-El Abra Transmission Line
    Power
    T&D
    Santiago, Chile

    GE Energy Financial Services, Growing Internationally, Forms Power Transmission Line Partnership with Abengoa in Chile

    SANTIAGO, CHILE, Nov 29, 2005 — Growing in international markets with strong investment frameworks, GE Energy Financial Services announced today that it has formed a partnership with Abengoa –– the leading Spanish engineering, bioenergy, environmental services and IT group –– to own power transmission lines in Chile.GE Energy Financial Services will acquire an 80 percent equity interest in the partnership for $24.4 million. Abengoa will hold the remaining 20 percent. The partnership will own three 220kV transmission lines, built and previously owned by Abengoa, spanning 295 kilometers (183 miles) in Chile. Abengoa will continue as lead manager of the three transmission line companies: the Crucero–El Abra line, with a capacity of 150MW, feeding power from the main northern grid to...

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    GE Energy Financial Services, Growing Internationally, Forms Power Transmission Line Partnership with Abengoa in Chile

    • 3

      Chilean power transmission lines

    • 0.8

      equity interest

    Close
    2005
    LP
    Crockett Cogeneration
    Power
    Gas
    California, US

    Energy Investors Funds Sells 24 Percent Stake in Crockett Cogeneration Project

    CROCKETT, CALIF., Oct 10, 2005 — Energy Investors Funds, an established private equity fund manager that invests in the energy and electric power sector, today announced that its Energy Investors Fund, L.P. and its Energy Investors Fund II, L.P. closed on the sale of their combined 24.3 percent limited partnership interests in Crockett Cogeneration (Crockett) to GE Energy Financial Services, which increased its ownership interest to approximately 53 percent. Other financial terms of the transaction were not disclosed.In operation since 1996, Crockett is a 240–megawatt natural gas fired cogeneration plant located in Crockett, California, outside San Francisco. The project has a long–term power purchase agreement with Pacific Gas and Electric Company and a thermal sales agreement with C&H Sugar Company, both...

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    Energy Investors Funds Sells 24 Percent Stake in Crockett Cogeneration Project

    • 240 megawatt

      Crockett gas–fired cogeneration plant

    • 53 percent

      Ownership Interest

    Close
    2005
    LP
    Locin Oil Corporation
    Oil & Gas
    N/A
    Pennsylvania and Ohio, US

    GE Commercial Energy Financial Services, Strategically Expanding Reserve Base, Partners with Locin Oil Corporporation to Acquire and Develop Appalachian Gas Fields

    PA. AND OHIO, Jun 2, 2005 — GE Commercial Finance Energy Financial Services and Locin Oil Corporation announced today the acquisition of 96 billion cubic feet (Bcf) of net proved gas reserves for approximately $147 million. The properties were acquired from Equitable Production Company and include approximately 1,200 wells in Pennsylvania and Ohio. In addition, a total of over 220 proven and probable, low risk, undeveloped drilling locations have been identified in the fields.Energy Financial Services holds a 95 percent limited partnership interest in NCL Appalachian Partners LP and will share in capital expenditures to develop the reserves. The principals of Locin Oil formed NCL Appalachia LLC to be the five percent General Partner and operator of the fields, which include 69 Bcf of net proved producing gas...

    Read Full Press Release
    • 96 billion

      cubic feet of gas reserves

    • 1,200 wells

      and 220 proven and probable, low risk, undeveloped drilling locations

    Close
    2005
    LP
    F-W Oil Exploration L.L.C.
    Oil & Gas
    N/A
    Gulf of Mexico, US

    First Offshore Gas Reserves and Pipeline Construction Investments by GE's Energy Financial Services Unit, In Partnership with F-W Oil Exploration

    GULF OF MEXICO AND SOUTH PADRE ISLAND, TEXAS, Aug 22, 2005 — GE Commercial Finance Energy Financial Services announced today it has invested, for the first time offshore, $70 million in a limited partnership with F–W Oil Exploration L.L.C. to acquire and produce natural gas and associated liquid hydrocarbons in the Gulf of Mexico. Energy Financial Services will also finance the completion of a 48–mile pipeline system to transport gas from F–W's gas fields in the South Padre Island area.Located 12 miles offshore Texas, these South Padre Island fields represent the most significant asset within the partnership. The fields, owned 100% by the partnership, are shut–in pending completion of the pipeline installation scheduled in the fourth quarter of this year. This pipeline will transport more than 30 million cubic feet...

    Read Full Press Release
    • 48–mile

      pipeline system

    • 30 million

      cubic feet equivalent of gas transport per day

    Close
    2003
    LP
    Mirant
    Power
    N/A
    Virginia, US

    Mirant Reaches Agreement to Sell Birchwood Virginia Assets

    ATLANTA, GA, May 20, 2003 — Mirant (NYSE: MIR) today announced that it signed an agreement to sell all but one half of one percent of its 50 percent interest in the coal–fired Birchwood power plant and related facilities to the Global Energy unit of GE Structured Finance (GESF) for a gross sales price of approximately $71 million. The estimated after–tax book gain to Mirant is $41 million. Cogentrix Energy, Inc. will continue to own the remaining 50 percent of the Birchwood power plant located near Fredricksburg, Va.Following the close of this transaction, Mirant will no longer post a $19 million letter of credit associated with its interest in the power plant. The non–recourse project debt associated with the plant will remain in place."Mirant continues to sell non–strategic assets...

    Read Full Press Release
    • 242 mw

      facility supplying power to Virginia Electric Power Company

    • $71 million

      approximate gross sales price

    Close
    2011
    Lease
    Alta Wind I
    Renewable
    Wind
    California, US

    GE Unit, UnionBancal Unit, Buy California Wind Farm First Purchase of Largest US Wind Energy Projects Starting Operations

    TEHACHAPI, CALIF., Jan 10, 2011 — GE Energy Financial Services, a unit of GE (NYSE: GE), and Bankers Commercial Corporation, a unit of UnionBanCal Corporation, announced today that they have purchased the first wind farm to start operations in one of the largest wind energy projects in the United States.GE Energy Financial Services and Bankers Commercial Corporation acquired the 150– megawatt Alta Wind I wind farm in Tehachapi, in Kern County, California, and are leasing it back to its developer, operator and manager, Terra–Gen Power, LLC. The wind farm, using 100 GE 1.5–megawatt SLE turbines, was completed in the fourth quarter of last year. GE Energy Financial Services –– a major global investor in multiple energy generation and distribution projects and companies – and Bankers...

    Read Full Press Release

    GE Unit, UnionBancal Unit, Buy California Wind Farm First Purchase of Largest US Wind Energy Projects Starting Operations

    • 0.5

      Stake

    • 100

      GE 1.5–megawatt SLE turbines

    Close
    2010
    Lease
    King City Cogeneration Power Plant
    Power
    Gas
    California, US

    GE'S Energy Investing Unit Expands Power Portfolio, Buys Efficient Natural Gas-Fired California Power Plant, Leases It to Calpine

    KING CITY, CALIF., May 20, 2010 — GE Energy Financial Services –– a unit of GE (NYSE: GE) –– announced today it is expanding its 26–gigawatt power portfolio by buying the King City cogeneration power plant in California's Salinas Valley for $68 million. Calpine Corporation (NYSE: CPN), based in San Jose, has leased, operated and maintained the plant since 1996 and will continue to do so under GE's ownership. The King City plant, 75 miles southeast of Monterey, is an efficient 120–megawatt natural gas–fired cogeneration facility using a GE 7EA gas turbine that entered commercial operation in 1989. The plant sells its electricity to Pacific Gas & Electric Company under a contract until 2019, and supplies steam to a nearby vegetable processing facility. GE Energy...

    Read Full Press Release

    GE'S Energy Investing Unit Expands Power Portfolio, Buys Efficient Natural Gas-Fired California Power Plant, Leases It to Calpine

    "Our acquisition of the King City Cogeneration Plant underscores our strategy of growing our power portfolio across a wide range of generation technologies and fuel sources, participating in the industry using a wide range of capital products and structures, and deepening our relationships with key customers and partners such as Calpine."
    — Alex Urquhart President and CEO of GE Energy Financial Services
    • 120 megawatt

      natural gas–fired cogeneration plant

    • $47 million

      loan since 2003

    Close
    2006
    Lease
    Fox Energy Center
    Power
    Gas
    Wisconsin, US

    Calpine Sells Its Entire Leasehold Interest in the Fox Energy Center to GE Energy Financial Services

    KAUKAUNA, WIS., Oct 11, 2006 — Calpine Corporation [OTC Pink Sheets: CPNLQ] announced today that one of its non–debtor subsidiaries has completed the sale of its entire leasehold interest in the 560–megawatt Fox Energy Center, located in Kaukauna, Wis., to affiliates of GE Energy Financial Services, the plant's owner/lessor. With this sale, Calpine continues to advance its Chapter 11 restructuring program to strengthen its business – financially and operationally – and to position the company for future growth.The Fox Energy Center is a natural gas–fired, combined–cycle facility that supplies electricity to Wisconsin Public Service Corporation under a ten–year power sales agreement. In consideration of the sale, Calpine receives a cash payment from GE Energy Financial...

    Read Full Press Release

    Calpine Sells Its Entire Leasehold Interest in the Fox Energy Center to GE Energy Financial Services

    • 560 megawatt

      gas–fired facility

    • Utilizes GE's 7FB

      combustion turbines to maximize fuel efficiency

    Close
    2006
    Lease
    Springerville Generating Station
    Power
    Coal
    Arizona, US

    Tri-State's new 418-MW unit at TEP's Springerville Generating Station begins producing commercial power

    SPRINGERVILLE, ARIZ., Jul 1, 2006 — A third unit at Springerville Generating Station (SGS) began commercial operation July 28, expanding the resources available to meet rising power demands across the West. The project was developed by Tri–State Generation and Transmission Association in conjunction with Tucson Electric Power (TEP), the owner and operator of SGS Units 1 and 2.Although finishing work and testing will continue on the generator, the unit's 418 megawatts of power has been certified for commercial use in a region where searing summer heat has produced new records in energy usage.J.M. Shafer, Tri–State Executive Vice President and General Manager, said, "The demand for electricity continues to grow throughout our membership and our investment in this new resource helps strengthen our...

    Read Full Press Release

    Tri-State's new 418-MW unit at TEP's Springerville Generating Station begins producing commercial power

    • $179 million

      lease equity

    • 418 megawatt

      Springerville Generating Station

    Close
  • Equity Investments Projects

    (Click below to expand)

    Year
    Product
    Company Name
    Sector
    Technology
    Location
    2016
    Equity
    Astoria 2
    Renewable
    Solar
    California

    GE EFS and Canadian Solar Subsidiary Recurrent Energy Closes Financing for 75-Megawatt Astoria 2 Solar Power Project

    GUELPH, ONTARIO, CANADA, Jan 5, 2016 — Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that its wholly owned subsidiary, Recurrent Energy, one of North America's largest solar project developers, closed on a tax equity investment commitment with GE (NYSE: GE) unit GE Energy Financial Services for the 75 megawatt (MWac) Astoria 2 solar power project. Recurrent Energy also closed a debt facility for the Astoria 2 project, currently under construction in California. Recurrent Energy will be the managing member of the Astoria 2 solar power project and plans to own and operate the facility. Santander Bank, N.A. (Santander) was the coordinating lead arranger of a five member bank club including NORD/LB, Rabobank, Key Bank,...

    Read Full Press Release
    "Investing in the Astoria 2 project builds upon our relationships with Recurrent Energy and Canadian Solar and continues the expansion of our global renewable energy footprint"
    — Kevin Walsh Managing Director and Head of Renewables at GE Energy Financial Services
    • 75 MW

      solar power project

    • GE 1500V

      inverters

    Close
    2016
    Equity
    Los Guindos
    Power
    Gas
    Bio Bio Region, Los Guindos

    GE Energy Financial Services Invests in GE-Powered Los Guindos Power Station in Chile

    SANTIAGO, CHILE , Feb 25, 2016 — GE (NYSE: GE) Unit, GE Energy Financial Services has partnered in the Chilean power market for the first time with Inprolec SA by acquiring a 75 percent stake in the 139-megawatt open-cycle Los Guindos Power Plant.Inprolec is a member of the Ingelec Group with over 28 years of experience in the energy industry, and was responsible for the development and construction of the plant, continues to manage its operation and retains a 25 percent ownership interest. Situated near the Pacific natural gas pipeline 490 kilometers from Santiago, in the Bio Bio region of Chile, Los Guindos operates as one of the most efficient plants in the region with GE's 9E turbine. Financial details are not disclosed. This transaction demonstrates GE's commitment to meeting customer needs in...

    Read Full Press Release

    GE Energy Financial Services Invests in GE-Powered Los Guindos Power Station in Chile

    "Los Guindos allows us to deploy capital in one of our priority markets. Our investment offers options for growth alongside an experienced participant in Chile's energy markets with a proven track record of success"
    — Andrew Marsden Managing Director and head of EMEA & Latin America at GE Energy Financial Services.
    • 139 MW

      open-cycle power plant

    • GE 9E

      turbines

    Close
    2016
    Equity
    Trina Solar
    Renewable
    Solar
    Miyagi Prefecture, Japan

    Trina Solar Partners with GE Energy Financial Services to Deliver Clean Energy to Miyagi Prefecture in Japan

    CHANGZHOU, CHINA, Apr 25, 2016 — Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a global leader in photovoltaic ("PV") modules, solutions, and services, today announced that it has partnered with GE Energy Financial Services ("GE EFS") to invest in a 14 MW (megawatt) DC (direct current) utility-scale solar project (the "Project") in Ishinomaki, Miyagi Prefecture, Japan. As part of the partnership, GE EFS will hold an 85% equity interest in the Project, acquired from Trina Solar under the terms of the Membership Interests Purchase Agreement. Both companies will make capital contributions to the Project on a pro rata basis in accordance with their respective interests. Moreover, a management committee, consisting of two representatives appointed by each company, will be established to...

    Read Full Press Release
    "Trina Solar is an experienced global developer and we are proud to work with them to bring this exciting project in Miyagi, Japan to fruition and to continue to expand our footprint in Asia"
    — Sushil Verma Managing Director and Head of Asia Pacific at GE Energy Financial Services
    • 14 MW

      solar power project

    • 4,400

      Japanese households powered

    Close
    2015
    Equity
    EGPNA Renewable Energy Partners
    Renewable
    Wind
    North America

    Enel Green Power Sells 49% In North America Newco To GE Energy Financial Services Through Partnership Agreement

    ROME, NY, Mar 31, 2015 — Enel Green Power S.p.A. ("EGP"), through its subsidiary Enel Green Power North America, Inc. ("EGPNA"), entered into an agreement with General Electric Unit (NYSE: GE) GE Energy Financial Services for the sale of a 49% stake in a newly created company, EGPNA Renewable Energy Partners, LLC ("EGPNA REP"), for a total consideration of approximately 440 million US dollars. EGPNA will continue to own 51% of the partnership interests, thereby fully consolidating the partnership in its accounts, and will continue to be responsible for the daily administration, operation and maintenance activities of EGPNA REP assets. Francesco Venturini, Chief Executive Officer and General Manager of Enel Green Power commented: "North America is one of our most...

    Read Full Press Release
    • 49%

      ownership interest

    • $440M

      investment

    Close
    2015
    Equity
    Futtsu Solar Project
    Renewable
    Solar
    Futtsu City, Japan

    GE Energy Financial Services Invests in Green Power Investment Corp's Solar Project in Futtsu City, Japan

    FUTTSU CITY, JAPAN, Apr 21, 2015 — GE Unit (NYSE: GE), GE Energy Financial Services has formed a new partnership with Tokyo-based renewable energy project developer, Green Power Investment Corp. ("GPI"), to invest in a 42-megawatt (DC) photovoltaic solar power project in Futtsu City, Japan. GE Energy Financial Services will invest alongside GPI in the project. In addition to the i nvestment from GPI and GE Energy Financial Services, financing from a syndicate of four banks, led by The Bank of Tokyo Mitsubishi UFJ, Ltd. will be utilized for the project. Additional financial details are not disclosed. Located in Japan's prefecture of Chiba, the Futtsu solar plant is currently under construction and is expected to reach commercial operations in January 2016. It will sell its power via a...

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    GE Energy Financial Services Invests in Green Power Investment Corp's Solar Project in Futtsu City, Japan

    "The Futtsu project supports our renewable energy and international growth objectives through the formation of a new relationship with GPI and expansion of our network to additional partners in the country"
    — Sushil Verma Managing Director and Head of Asia Pacific at GE Energy Financial Services
    • 42-MW

      photovoltaic solar power

    Close
    2015
    Equity
    Southern Star Central Corp.
    Oil & Gas
    Gas
    Owensboro, KY

    La Caisse Enters Partnership to Acquire Southern Star Central Corp

    MONTREAL, May 1, 2015 — La Caisse de dépôt et placement du Québec ("CDPQ") has partnered with GE Unit (NYSE: GE) GE Energy Financial Services ("GE EFS") to jointly acquire Southern Star Central Corporation from Morgan Stanley Infrastructure. The company has full ownership of Southern Star Central Gas Pipeline Inc. ("SSCGP"), which operates a FERC (Federal Energy Regulatory Commission)-regulated natural gas pipeline system in the United States. Financial details of the transaction have not been disclosed. SSCGP is a well-established company. Founded in 1904, it owns and operates a natural gas transmission and storage network. The pipeline network extends over more than 9,300 kilometers across eight states, serving mainly the Kansas and Missouri markets. "For la Caisse, this is...

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    • 9,300

      kilometers

    • Eight

      states

    Close
    2015
    Equity
    Hosoe Solar Plant
    Renewable
    Solar
    Miyazaki City, Japan

    GE Energy Financial Services and Pacifico Energy Partner on a Third Solar Transaction in Japan

    MIYAZAKI, JAPAN, Mar 31, 2015 — GE unit (NYSE: GE) GE Energy Financial Services and Virginia Solar Group subsidiary Pacifico Energy have partnered for a third time to construct a solar power project in Japan. GE Energy Financial Services and Virginia Solar Group will jointly invest equity in a 96.2-megawatt (DC) photovoltaic solar plant, with GE Energy Financial Services' commitment totaling ¥7.5 billion. Construction of the plant is underway in Hosoe on Kyushu Island, in the prefecture of Miyazaki. A ¥35 billion term loan facility with a 22-year tenor – led by The Bank of Tokyo Mitsubishi UFJ, Ltd. as the sole and exclusive mandated lead arranger – was provided on a non–recourse project finance basis with a syndicate of 12 Japanese financial institutions. Additional transaction...

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    GE Energy Financial Services and Pacifico Energy Partner on a Third Solar Transaction in Japan

    "We aim to continue helping Japan achieve a diversified power mix. Working with reliable and regional counterparties supports our international expansion and renewable energy investment commitments"
    — Sushil Verma Managing Director and Head of Asia Pacific at GE Energy Financial Services
    • ¥7.5 billion

      GE EFS commitment

    • 96.2-MW

      photovoltaic solar plant

    Close
    2015
    Equity
    Langhope Rig Wind Farm
    Renewable
    Wind
    Edinburgh, Scotland

    GE Energy Financial Services Acquires Langhope Rig Wind Farm in Scotland from SSE

    EDINBURGH, SCOTLAND, Mar 26, 2015 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that it has signed an agreement with SSE plc, one of the largest generators and suppliers of energy in the UK, to acquire the 16-megawatt Langhope Rig wind farm, which is nearing construction completion near Hawick, in the Scottish Borders. Situated approximately 55 miles south of Edinburgh, the project supports GE's commitment to international expansion and investing USD $1 billion annually in renewable energy projects worldwide. The Langhope Rig wind farm comprises 10 GE 1.6-megawatt wind turbines which GE Energy UK will service under a long-term operations and maintenance agreement. Under the terms of the acquisition agreement, GE Energy Financial Services will own and operate the...

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    GE Energy Financial Services Acquires Langhope Rig Wind Farm in Scotland from SSE

    "The Langhope Rig acquisition supports our strategy of investing in high-quality energy assets with experienced partners. This transaction combines GE's strengths as a leading supplier of both structured finance and energy technology in an investment underpinned by the UK's stable wind regime"
    — Andrew Marsden Managing Director and European leader at GE Energy Financial Services
    • 16-MW

      wind farm

    • 10 1.6-MW

      GE wind turbines

    Close
    2015
    Equity
    Balko
    Renewable
    Wind
    Balko, OK

    GE Energy Financial Services Provides Tax Equity for 300-MW Balko Wind Project in Oklahoma

    BEAVER COUNTY, OKLAHOMA, Jan 13, 2015 — D. E. Shaw Renewable Investments, L.L.C. (DESRI) and Apex Clean Energy (Apex) today announced the sale of Balko Wind, a wind energy project in Beaver County, Oklahoma. Apex developed the 300 MW project and sold it to an affiliate of DESRI in late 2014. Financing for the acquisition and construction of the project was provided by Santander Bank, N.A., KeyBank, N.A., Citi, and Banco de Sabadell, S.A. Commitments for tax equity financing were provided by affiliates of Bank of America Merrill Lynch, General Electric Capital Corp., Google Inc., and Citi. CohnReznick Capital Markets Securities, LLC acted as advisor to DESRI for the tax equity financing. Financial terms were not disclosed. Apex is an independent renewable energy company with a large pipeline of...

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    • 300-MW

      wind farm

    • 162 GE 1.85-87

      wind turbines

    Close
    2015
    Equity
    Briscoe
    Renewable
    Wind
    Briscoe County, TX

    Capital Dynamics, GE Energy Financial Services and Morgan Stanley Complete Financing for 150-MW Briscoe Wind Project

    ZUG, SWITZERLAND, Jan 22, 2015 — Capital Dynamics, a global private asset manager, GE Energy Financial Services and Morgan Stanley are pleased to announce they have completed financing for the 150-megawatt (MW) Briscoe Wind Farm, LLC ("Briscoe Wind Farm") spanning 20,000 acres in Briscoe County, Texas, USA. Once operational, Briscoe Wind Farm targets providing clean and renewable power generation that is anticipated to cut the equivalent of carbon dioxide emissions from over 890,000 barrels of oil otherwise consumed for the same energy output annually1. The resulting electricity is expected to be sold in the Electricity Reliability Council of Texas (ERCOT) electricity market. Capital Dynamics' Clean Energy and Infrastructure (CEI) team completed tax equity agreements with GE Energy Financial...

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    "We are pleased to support the efforts of Capital Dynamics and partner with Morgan Stanley to build a clean and reliable project"
    — Kevin Walsh Managing Director of Power and Renewable Energy at GE Energy Financial Services
    • 150-MW

      wind farm

    • 20,000

      acres

    Close
    2015
    Equity
    Joliet Bulk, Barge & Rail LLC
    Oil & Gas
    N/A
    Joliet, Illinois

    Arc Logistics Partners LP to Acquire a Terminal in Joliet, Illinois in a Joint Venture

    JOLIET, ILLINOIS, Feb 19, 2015 — Arc Logistics Partners LP (NYSE:ARCX) ("Arc Logistics" or the "Partnership"), through a joint venture arrangement with GE Energy Financial Services, a unit of General Electric Company (NYSE:GE), has agreed to acquire all of the membership interests of Joliet Bulk, Barge & Rail LLC ("JBBR") from CenterPoint Properties Trust ("CenterPoint" or the "Seller") for $216 million. JBBR's principal assets consist of a crude oil unloading terminal and a 4-mile crude oil pipeline, the Joliet Terminal, which are in the final stages of construction in Joliet, Illinois and are expected to be complete in mid to late April 2015. The acquisition consideration also includes an earn-out payable by the JBBR joint venture to CenterPoint based upon petroleum product throughput volumes at the Joliet Terminal...

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    • $216 million

      40% Ownership

    • 85,000 barrel capacity

      crude oil per day

    Close
    2015
    Equity
    Ararat Wind
    Renewable
    Wind
    Australia

    GE Part of Global Consortium That Will Deliver Australia's Third Largest Wind Farm, Valued at $450 Million

    VICTORIA, AUSTRALIA, Jun 25, 2015 — Renewable Energy Systems ("RES"), together with GE (NYSE: GE) and Downer (ASX: DOW), today announced a major contract for the supply of 75 wind turbines to the 240MW Ararat Wind Farm in south-west Victoria. In what will be the third largest wind farm in Australia, the $450 million project will be financed by shareholders Partners Group, RES, OPTrust and GE. This deal represents the first major contract to be signed following restored bipartisan support for the Renewable Energy Target (RET), mandating 33,000-gigawatt hours of producing capacity by 2020, and signals the return of investment to Australia's renewable energy sector. The project also benefits from a power purchase agreement with the Australian Capital Territory Government (ACT), ...

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    "With certainty comes investment - that's our experience overseas and that's what we'll see here in Australia now that the RET is fully resolved. I congratulate both the Coalition and the ALP on restoring the policy certainty needed to enable investment and job creation. This decision has immediately unlocked half a billion dollars of direct foreign investment into Australia"
    — Geoff Culbert President & CEO, GE Australia, New Zealand and PNG
    • 240 MW

      wind farm

    • 1,23,000

      homes powered

    Close
    2015
    Equity
    Kanagi Solar Project
    Renewable
    Solar
    Shimane Prefecture, Japan

    GE Energy Financial Services and Pattern Development Jointly Invest in GPI's Kanagi Solar Project in Japan

    HAMADA-SHI, JAPAN, Sep 16, 2015 — GE Unit (NYSE: GE) GE Energy Financial Services and Pattern Energy Group LP ("Pattern Development") entered into an agreement with Tokyo-based renewable energy project developer, Green Power Investment Corp. ("GPI"), to invest in a 13.6-megawatt (DC) photovoltaic solar project located in Japan's prefecture of Shimane. GE Energy Financial Services and Pattern Development will each own 45% of the project and GPI will retain a 10% ownership interest. GPI will manage construction and operations of the plant, which is located in Hamada-Shi, a mountainous area off the Sea of Japan. The transaction was closed in June 2015 and financial details were not disclosed. Construction on the Kanagi solar project is underway and the plant is expected to reach commercial operation...

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    "Partnering with GPI and Pattern Development supports the growth of Japan's energy infrastructure and helps the country achieve its renewable targets to meet its power needs"
    — Sushil Verma Managing Director and Head of Asia Pacific at GE Energy Financial Services
    • 13.6 MW

      photovoltaic solar plant

    • 45%

      ownership interest

    Close
    2015
    Equity
    Pilot Hill Wind
    Renewable
    Wind
    Kankakee & Iroquois County, IL

    Pilot Hill Wind Project Closes Financing From GE Energy Financial Services and MetLife

    SAN DIEGO, CA, AND CHICAGO, IL, Dec 1, 2015 — EDF Renewable Energy's 175-megawatt (MW) Pilot Hill wind project located in Kankakee and Iroquois Counties in Illinois has closed structured equity financing from GE Unit (NYSE:GE) GE Energy Financial Services and MetLife, Inc. (NYSE: MET) . Pilot Hill Wind Project, which has achieved commercial operations and is located about 60 miles southwest of Chicago, will power 100 percent of the energy needs of Microsoft Corporation's Chicago data center. Microsoft has committed to purchase the output under a 20-year power purchase agreement. This is Microsoft's second and largest wind energy deal which demonstrates its commitment to a neutral carbon footprint. "Pilot Hill serves as another example of EDF Renewable Energy's strategy to develop renewable energy projects...

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    Pilot Hill Wind Project Closes Financing From GE Energy Financial Services and MetLife

    "Investing in Pilot Hill contributes to the growth of EDF Renewable Energy, an important worldwide GE customer, builds on strong commercial interest in the renewable energy sector, and helps Microsoft meet its environmental goals"
    — Kevin Walsh Managing Director and Head of Renewable Energy at GE Energy Financial Services.
    • 175 MW

      wind farm

    • Powering 100% of

      Microsoft Corporations Chicago Data Center

    Close
    2014
    Equity
    Southcross Holdings
    Oil & Gas
    N/A
    Dallas, TX

    Southcross Holdings, LP Announces $210 Million Capital Commitment from Energy Capital Partners and GE Energy Financial Services

    DALLAS, TX, Nov 7, 2014 — Southcross Holdings, LP ("Holdings" or "the Company"), announced today the completion of a $210 million preferred equity commitment from Energy Capital Partners Mezzanine Opportunities Fund and GE Energy Financial Services. Holdings owns 100% of the general partner of Southcross Energy Partners, LP (NYSE: SXE) ("Southcross"), limited partner interests in Southcross, and several Eagle Ford based midstream assets. The investment will enable the Company to complete the integration of assets from the recent TexStar merger and to further build out the Company' s pro–forma operating footprint in the Eagle Ford basin. Development of these assets at Holdings will continue to enhance the significant inventory of potential drop downs for...

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    "We have great confidence in the leadership at Southcross. We are excited to use our capital and expertise to support the significant growth opportunities that this team has developed."
    — John Shepherd Managing Director at GE Energy Financial Services
    Close
    2014
    Equity
    Eagle LNG Jacksonville Terminal
    Oil & Gas
    N/A
    Jacksonville, FL

    Clean Energy, GE Ventures, GE Energy Financial Services and Ferus Natural Gas Fuels to build LNG Facility in Jacksonville, FL

    NEWPORT BEACH, CALIF, Oct 30, 2013 — Clean Energy Fuels Corp., (NASDAQ: CLNE) today announced that it has placed a purchase contract on property where it hopes to build a liquefied natural gas (LNG) fuel terminal in Jacksonville, Fla. This would be the first LNG facility on the Eastern seaboard to specifically supply LNG for the burgeoning maritime, heavy-duty trucking and rail industries. The planned facility is the first project to be developed by Eagle LNG Partners, the recently-announced consortium of Clean Energy, GE Ventures, GE Energy Financial Services and Ferus Natural Gas Fuels, formed to jointly deliver the cleaner-burning, less-costly fuel in the United States. “Establishing LNG capacity in Jacksonville is a critical strategic effort to enable LNG fueling throughout the Southeast region for our various...

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    • Maritime, trucking and rail

      industries

    • 300,000 gallons / day

      LNG facility

    Close
    2014
    Equity
    Setouchi City Mega Project
    Renewable
    Solar
    Okayama, Japan

    Japan's Largest Solar Power Project Funded With Market-Leading Investment by GE and Toyo Engineering, and $900 Million Debt Syndicate

    OKAYAMA, JAPAN, Sep 29, 2014 — Kuni Umi Asset Management, GE (NYSE: GE) unit GE Energy Financial Services and Toyo Engineering Corporation have invested in Japan's largest solar power project, a 231–megawatt facility to be built in Setouchi City, Okayama Prefecture, via special purpose company and representative member Setouchi Future Creations. GE Energy Financial Services holds a 60 percent stake in the project, one of the largest single equity investments in renewable energy in Japan. Financial details were not disclosed. To support the approximately $1.1 billion project, the three owners have raised more debt than any prior renewable energy project in the country. An $867 million loan –– led by Bank of Tokyo–Mitsubishi UFJ, Mizuho Bank and Sumitomo Mitsui Banking Corporation...

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    Japan's Largest Solar Power Project Funded With Market-Leading Investment by GE and Toyo Engineering, and $900 Million Debt Syndicate

    "Japan's favorable regulatory policies make solar power attractive and diversify the country's power generation sources. For us, the Kuni Umi project expands our international and renewable energy footprints, which already include investment commitments of $1.8 billion in equity and debt in more than one gigawatt of solar power projects worldwide."
    — Sushil Verma Managing Director and Japan Business leader at GE Energy Financial Services
    • 231-MW

      solar PV plant

    • 1,210 acres

      Japan's largest solar power project

    Close
    2014
    Equity
    Atria Power
    Renewable
    Wind
    Ananthapur and Betul, India

    GE Energy Financial Services Invests in Atria Power's Wind Farms in India; Supports USD $1 Billion Annual Renewable Energy Investment Commitment

    ANANTHAPUR AND BETUL, INDIA, Jul 28, 2014 — GE unit (NYSE: GE) GE Energy Financial Services has invested equity in three Atria Power wind projects under construction in India, supporting GE's commitment to invest USD $1 billion annually in renewable energy projects worldwide. The wind farms will have a combined capacity of 126 megawatts and will support the Indian Ministry of New and Renewable Energy's program to generate competitively priced grid–interactive wind power through feed–in tariffs. Financial details were not disclosed. Located in Ananthapur district of Andhra Pradesh, the 25.6–megawatt first project is expected to reach commercial operations in September. The two other projects, each 50 megawatts, are located in Betul district of Madhya Pradesh, and are expected to reach...

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    GE Energy Financial Services Invests in Atria Power's Wind Farms in India; Supports USD $1 Billion Annual Renewable Energy Investment Commitment

    "Partnering with Atria Power, a strong and accomplished regional energy player, accelerates our global growth and India wind portfolio"
    — Raghuveer Kurada Business leader for India and South East Asia at GE Energy Financial Services
    • Structured equity financing

    • 126-megawatt

      three wind projects

    Close
    2014
    Equity
    Grandview Phase I
    Renewable
    Wind
    Amarillo, TX

    E.ON and GE Energy Financial Services Partner To Complete GE-Powered Wind Farm, In Texas Panhandle

    AMARILLO, TEXAS, Jul 8, 2014 — Subsidiaries of E.ON SE (E.ON) and GE (NYSE: GE) are forming an investment partnership to own and operate Grandview Phase I, a 211-megawattt GE-powered wind farm under construction in the Texas Panhandle. GE Energy Financial Services provided 50 percent of the partnership equity in the project, with the balance provided by E.ON's subsidiary E.ON Climate and Renewables North America, LLC (EC&RNA). Financial details were not disclosed. Located 26 miles east of Amarillo in Carson County, Grandview I will use 118 GE 1.7-100 wind turbines, which GE will service under a five-year agreement. EC&RNA is managing construction of the wind farm, expected to begin commercial operations in December. Once complete, EC&RNA will provide operations and maintenance. The wind farm will...

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    "Combining investment and technology for the Grandview wind project builds on our long-term relationship with EC&RNA and supports the growth of this important customer and GE. GE Energy Financial Services holds a portfolio of approximately 12 gigawatts of wind power projects in operation or under construction."
    — David Nason President and CEO of GE Energy Financial Services
    • Partnership equity

    • 211-megawatt

      wind farm

    Close
    2014
    Equity
    Spinning Spur II
    Renewable
    Wind
    Amarillo, TX

    Spinning Spur II Wind Project in Texas Becomes Operational, Project also Closed Financing from GE and Union Bank and UBS Partnership Confirmed

    SAN DIEGO, CALIF. AND AMARILLO, TEXAS, Jul 7, 2014 — EDF Renewable Energy announced today that the 161–megawatt (MW) Spinning Spur II Wind Project in Texas has reached commercial operation (COD). The company further announced the close of structured equity financing from GE Unit (NYSE:GE) Energy Financial Services and MUFG Union Bank, N.A. The completion of construction and COD milestone allows the closing of the sale of 50 percent of EDF Renewable Energy's equity interest in the project to UBS International Infrastructure Fund. Financial details were not disclosed. Spinning Spur II commenced construction of 87 GE 1.85–megawatt, 87–meter rotor wind turbines 40 miles west of Amarillo in June 2013. The power is sold pursuant to an 11–year purchase agreement. The project is one of the first to...

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    Spinning Spur II Wind Project in Texas Becomes Operational, Project also Closed Financing from GE and Union Bank and UBS Partnership Confirmed

    "Our investment in this well-structured project supports the growth of EDF Group, an important worldwide GE customer, as well as our strategy to grow by combining expertise, capital, and technology."
    — Kevin Walsh Managing Director of Power and Renewable Energy at GE Energy Financial Services
    • Structured equity financing

    • 161-megawatt

      wind farm

    Close
    2014
    Equity
    Kumenan
    Renewable
    Solar
    Okayama, Japan

    GE Energy Financial Services Expands Internationally with Solar Power Project Investment, in Japan

    OKAYAMA, JAPAN, Jun 9, 2014 — Expanding its international and renewable energy footprints, GE unit (NYSE: GE) GE Energy Financial Services has invested in a 32–megawatt solar photovoltaic power project in Japan. This transaction, with project developer Pacifico Energy, contributes to GE Energy Financial Services' plan to invest over USD $1 billion annually in renewable energy projects worldwide. Financing for the solar project, known as Kumenan, was done on a non–recourse project finance basis and was supported by a JPY ¥11 billion loan from The Bank of Tokyo–Mitsubishi UFJ and The Chugoku Bank Ltd. Additional financial details were not disclosed. Located in the prefecture of Okayama, Kumenan has started construction and is expected to reach commercial operations in the first quarter...

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    GE Energy Financial Services Expands Internationally with Solar Power Project Investment, in Japan

    "The Kumenan project helps Japan meet its renewable energy targets and sets the stage for future investments by the GE unit. Our investment in Kumenan advances our global growth into new markets with a strong risk-return profile."
    — David Nason President and chief executive officer of GE Energy Financial Services
    • Equity

      investment

    • 32- megawatt

      solar PV power project

    Close
    2014
    Equity
    Casillas Petroleum
    Oil & Gas
    Gas
    Tulsa, OK

    GE Energy Financial Services and Casillas Petroleum Partner to Acquire Oil & Gas Reserves in Kansas

    TULSA, OK, Aug 5, 2014 — GE unit (NYSE: GE) GE Energy Financial Services has partnered with Casillas Petroleum Corp. to purchase oil and gas reserves in southwest Kansas from Cimarex Energy Co. (NYSE: XEC). The purchase marks the first collaboration between GE and Casillas Petroleum. Financial details were not disclosed. The assets include more than 500 producing wells spread across 14 counties in Kansas. Tulsa–based Casillas Petroleum will operate the properties and serve as the general partner of the partnership. GE Energy Financial Services will be the sole limited partner and will provide both acquisition and development capital to help grow the partnership's reserves. Greg Casillas, president of Casillas Petroleum, said, "Our investment with GE allows us to grow our business...

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    "Our partnership with Casillas Petroleum is another example of helping customers and GE grow through profitable investments in long-lived assets"
    — Ray Edgar Managing director and leader of the Oil and Gas team at GE Energy Financial Services
    • Partnership equity

    • More than 500 producing wells

      oil & gas reserves

    Close
    2014
    Equity
    Welspun
    Renewable
    Solar
    Neemuch, India

    GE Invests USD 24 Million In One of India's Biggest Solar Projects

    NEEMUCH, INDIA, Apr 25, 2014 — GE unit (NYSE: GE) GE Energy Financial Services and Welspun Renewables Energy Pvt. Ltd. (WREPL) announced today a partnership to expand solar energy generation in India. GE Energy Financial Services is making its first investment in a solar power project in India, funding US $24 million for a 151 (DC)-megawatt solar photovoltaic power project that WREPL, one of India's leading clean energy generating companies, put into operation in August 2013, almost eight months ahead of schedule. The Neemuch project – one of the world's largest solar plants – powers 624,000 homes and mitigates an estimated 216,372 tons of carbon emissions annually. The project, part of WREPL's 308 (DC)-megawatt operational solar portfolio, is located on an...

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    GE Invests USD 24 Million In One of India's Biggest Solar Projects

    "With its geography, strong economic growth and commitment from the highest levels of government, India has gained incredible potential for the development of solar power. Our investment in Welspun Renewables' solar project helps to realize that potential. WREPL's history of developing benchmark projects ahead of schedule and with high generation power output helps us expand globally across the energy spectrum and meet the world's energy needs."
    — Raghuveer Kurada Business leader for India and South East Asia at GE Energy Financial Services
    • $24 million

      Equity Investment

    • 151-megawatt

      solar power plant

    Close
    2014
    Equity
    Acres and Barranafaddock
    Renewable
    Wind
    Ireland

    GE Energy Financial Services Makes First Equity Investment In Wind Power In Ireland, Buys Two GE-Powered Wind Farms From Element Power

    DUBLIN, IRELAND , Feb 25, 2014 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today it has made its first equity investment in Ireland's wind power market by acquiring two wind farm construction projects that will be powered by the GE's flagship 2.85MW wind turbines. With a combined capacity of 51 megawatts, the wind farms, acquired from Element Power and now under construction, will help Ireland meet its renewable energy generation targets, produce power for thousands of homes, and reduce electricity costs for Irish consumers. Financial terms of the sale were not disclosed. Element Power is managing construction of the projects and will provide operational management services following completion of the farms, which will use GE's 2.85-megawatt turbines with 103m rotors. The...

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    GE Energy Financial Services Makes First Equity Investment In Wind Power In Ireland, Buys Two GE-Powered Wind Farms From Element Power

    "The combination of Ireland's strong wind resources with a stable regulatory regime and well-structured feed-in tariff for wind energy present attractive growth opportunities for us, our partners and the country," said Marsden. "We value our partnership with Element Power and are exploring other opportunities to work with them and others in Ireland and across Europe as we seek to expand our portfolio of energy investments"
    — Andrew Marsden London-based managing director and European leader at GE Energy Financial Services
    • Equity

      Investment

    • 51-megawatt

      wind farms

    Close
    2014
    Equity
    Stephens Ranch Wind Project
    Renewable
    Wind
    Lubbock, TX

    Starwood Energy Group Closes Financing with GE, Citibank, and Santander on its 211-Mw Stephens Ranch Wind Project in Texas

    GREENWICH, CONN., Jan 7, 2014 — Starwood Energy Group Global, LLC, a leading private investment firm focused on energy infrastructure, announced today that an affiliate has completed agreements to finance and construct its first wind farm, a 211 Megawatt (MW) project 45 miles south of Lubbock, Texas. The Stephens Ranch project, which represents the first of two phases that will total 377 MW, will use GE 1.7-100 turbines and be built by Wanzek Construction, with completion scheduled for late 2014. Affiliates of GE Energy Financial Services, Banco Santander and Citi have committed to invest tax equity in the project, and affiliates of Starwood Energy Group have committed 100% of the cash equity. Santander Bank, N.A. and Citi are also providing a non-recourse construction debt facility (including...

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    "This transaction enabled us to combine our Texas wind energy investing expertise with the skills of our tax equity partners, Santander and Citi, to support Starwood Energy on this wind farm, a well-structured project using proven technology"
    — Kevin Walsh Managing Director and Head of Power and Renewable Energy at GE Energy Financial Services
    • Tax

      Equity Investment

    • 211-megawatt

      wind farm

    Close
    2013
    Equity
    Prairie Breeze Wind Energy Center
    Renewable
    Wind
    Lincoln, NE

    GE Energy Financial Services makes structured equity investment in GE-powered Nebraska wind farm

    CHICAGO, IL, Oct 2, 2013 — Invenergy Wind LLC (“Invenergy”) announced today that it has arranged debt and tax equity financing for its 200.6 MW Prairie Breeze Wind Energy Center project (“Prairie Breeze”), which is under construction approximately 100 miles northwest of Lincoln, Nebraska. The financing included construction and term loans with Sovereign Bank, N.A. (an affiliate of Banco Santander S.A.), Prudential Capital Group, and Rabobank, acting together as Joint Lead Arrangers and Joint Bookrunners. Tax equity commitments were secured from affiliates of GE (NYSE: GE) unit GE Energy Financial Services, Bank of America Merrill Lynch, and JP Morgan. Prairie Breeze will feature 118 GE 1.7 MW wind turbines and produce enough clean, renewable energy to power approximately...

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    • Tax

      Equity Commitments

    • 200.6-megawatt

      wind project

    Close
    2013
    Equity
    Colorado Highlands
    Renewable
    Wind
    Colorado, US

    GE Energy Financial Services and Partners Announce Completion of Expansion at Colorado Highlands Wind Project

    COLORADO, US, Oct 2, 2013 — The expansion of Colorado’s newest renewable energy facility is complete, with the Colorado Highlands Wind project now capable of generating 91 megawatts of electricity for Tri-State Generation and Transmission Association. The facility originally came on-line in December of 2012, with 42 1.6-megawatt GE turbines able to produce 67 megawatts of power. The expansion – which was announced in April and began construction in July – consists of an additional 14 1.7-megawatt GE turbines, increasing the facility’s total current capacity by 36 percent. Tri-State has a 20-year power purchase agreement to receive all the electricity and environmental attributes from the wind farm, which is jointly owned by Alliance Power, Inc. of Littleton, Colo., and GE...

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    "We are pleased to be able to increase the long-term cost-effective renewable energy that our project is generating for Tri-State and its members, while providing other significant benefits to the community."
    — Jim Michael Managing member of Colorado Highlands Wind
    • 67 MW

      of power

    • 14

      1.7-megawatt GE turbines

    Close
    2013
    Equity
    ABW Solar Portfolio
    Renewable
    Solar
    Canada

    First Solar Sells Canadian Power Plants to GE Energy Financial Services-Alterra Partnership

    BELMONT, ONTARIO AND TEMPE, ARIZ., Aug 26, 2013 — First Solar, Inc. (Nasdaq: FSLR) announced today that it has sold a collection of solar projects in Ontario, Canada, totaling 50 megawatts (MW) AC to an investment partnership led by GE (NYSE: GE) unit GE Energy Financial Services. Terms were not disclosed. It is the first project transaction between First Solar and GE since their solar technology and commercial partnership was announced Aug. 6. The ABW Partnership, originally announced in 2011, consists of majority owner GE Energy Financial Services and Alterra Power Corporation, which made an equity contribution and will serve as the projects' managing partner. The ABW Partnership raised debt for the acquisition, with The Manufacturers Life Insurance Company serving as agent and lead arranger. The debt syndicate consists of The...

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    • Three

      Canadian Solar Power Projects

    • 50 megawatts AC

      of Solar Power

    Close
    2013
    Equity
    Panhandle Wind
    Renewable
    Wind
    Carson County, TX

    Pattern, GE, Citi Enter Texas Panhandle Wind Market

    PANHANDLE, TEXAS, Aug 20, 2013 — Tapping into a premier wind resource, Pattern Energy Group LP is starting construction of the 218–megawatt Panhandle Wind Project using Texas' new Competitive Renewable Energy Zone transmission infrastructure and connecting to the state's main power grid operator, the Electric Reliability Council of Texas. GE (NYSE: GE) unit GE Energy Financial Services and Citigroup, Inc. (NYSE: C) unit Citigroup Global Markets, Inc. will invest structured equity in the project. Located on 18,000 acres in Carson County 30 miles from Amarillo, Panhandle Wind will sell power to Citigroup Energy Inc. under a long–term hedge offtake agreement. Pattern — which developed the project, is serving as its managing member and will provide operations and maintenance — is...

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    Pattern, GE, Citi Enter Texas Panhandle Wind Market

    "This investment allows us to grow by expanding our wind portfolio and demonstrates the diverse roles we play in renewable energy transactions."
    — Kevin Walsh Managing Director of Power and Renewable Energy at GE Energy Financial Services
    • Equity

      Interest

    • 218-megawatt

      wind project

    Close
    2013
    Equity
    Invenergy Goldthwaite
    Renewable
    Wind
    Texas, US

    GE Energy Financial Services Invests in Wind Farm Near Austin, Texas

    GOLDTHWAITE, TEXAS, Jul 2, 2013 — GE Energy Financial Services invested structured equity in Invenergy Wind, LLC's 148.6–MW wind project under construction in Mills County, Texas, 100 miles outside Austin. The project uses three GE 2.5–MW "brilliant" turbines that feature short–term battery storage – their world debut – and 83 GE 1.7–MW wind turbines.

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    GE Energy Financial Services Invests in Wind Farm Near Austin, Texas

    • 148.6 MW

      WIND POWER PROJECT

    • World Debut

      2.5 MEGAWATT "BRILLIANT" TURBINES

    Close
    2013
    Equity
    Catalina Solar
    Renewable
    Solar
    California, US

    EDF Renewable Energy Closes Financing on Catalina Solar Project

    MOJAVE DESERT, CALIF., Jan 2, 2013 — EDF Renewable Energy, formerly enXco, announced today that it completed financing on the 143 MW Catalina Solar project in California's Mojave Desert. Majority interest in the project was acquired by a group of investors comprising GE (NYSE: GE) unit GE Energy Financial Services, Metropolitan Life Insurance Company, a wholly owned subsidiary of MetLife, Inc. (NYSE: MET), Union Bank, N.A., and Citi.Located on 1,100 acres of privately owned land southwest of the Tehachapi and Piute mountains, the thin film photovoltaic panel project, under construction since May, began ramping up operation last month and will reach full capacity during the second quarter of this year. The project's clean energy, provided to San Diego Gas & Electric Company, will power the equivalent of 35,000...

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    EDF Renewable Energy Closes Financing on Catalina Solar Project

    • 143 megawatt

      Catalina Solar project

    • Majority

      ownership investment

    Close
    2013
    Equity
    French Wind Portfolio
    Renewable
    Wind
    France

    International Consortium, Including GE's Energy Investing Unit, Acquires 32 Wind Farms in France

    PARIS, FRANCE, Jan 2, 2013 — A consortium comprising GE Energy Financial Services, MEAG –– the asset management arm of Munich Re and ERGO –– and EDF Energies Nouvelles is buying 32 operating wind farms in France from Iberdrola. The portfolio of onshore wind farms, which are spread throughout France and were commissioned in 2006–2012, have a combined capacity of 321.4 megawatts using turbines from a variety of manufacturers. Electricity generated is sold according to long–term contracts under France's feed–in tariff. The transaction is valued at €350 million, plus an earn–out of up to €50 million, depending on production over the next five years. Upon completion of the transaction, subject to regulatory approval, the wind portfolio's ownership will...

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    International Consortium, Including GE's Energy Investing Unit, Acquires 32 Wind Farms in France

    "We are pleased to partner with EDF Energies Nouvelles and MEAG in acquiring a substantial portfolio of operating wind projects in France, and intend to seek additional opportunities to expand our renewable energy assets in Europe."
    — Andrew Marsden London–Based Managing Director and European Leader at GE Energy Financial Services
    • €50 million

      Acquisition

    • 32

      onshore wind farms

    Close
    2012
    Equity
    Post Rock
    Renewable
    Wind
    Kansas, US

    GE, Metlife and Union Bank Invest Nearly $247 Million in Wind Capital Group's Kansas Wind Farm Powered by Turbines

    ELLSWORTH, KAN. AND LINCOLN COUNTIES, KAN., Dec 3, 2012 — A group comprising GE (NYSE: GE) unit GE Energy Financial Services, Metropolitan Life Insurance Company, a wholly owned subsidiary of MetLife, Inc. (NYSE: MET), and Union Bank, N.A., has invested nearly $247 million in Wind Capital Group's recently commissioned 201–megawatt Post Rock wind farm. Wind Capital Group, supported by its parent company, NTR plc, maintains a substantial equity stake and serves as managing member of the project, located 80 miles outside Wichita, Kansas, in Ellsworth and Lincoln Counties. Additional details of the transaction were not disclosed. "We are very pleased to be working with this well–established investor group and look forward to working together in the future. They each played an integral role in making the project a...

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    GE, Metlife and Union Bank Invest Nearly $247 Million in Wind Capital Group's Kansas Wind Farm Powered by Turbines

    • $247 million

      investment

    • 134

      GE 1.5 megawatt wind turbines

    Close
    2012
    Equity
    Prairie Rose
    Renewable
    Wind
    Minnesota, US

    Providing Capital and Technology, GE Advances Partnership with Enel Green Power to Build One of Minnesota Largest Wind Farms

    SOUTHERN MINN., Aug 6, 2012 — Expanding its partnership with global renewable energy company Enel Green Power, GE (NYSE: GE) unit GE Energy Financial Services has committed approximately $156 million in common equity for one of Minnesota's largest wind farms, using GE turbines. The GE unit now owns 51 percent of the 200–megawatt Prairie Rose wind project under construction in southern Minnesota. Enel Green Power North America, a subsidiary of Enel Green Power, committed approximately $149 million for a 49 percent ownership stake and serves as project manager. In addition to capital, GE signed an agreement last year with Enel Green Power North America to supply 119 of GE's 1.68–megawatt wind turbines for the project. The GE unit and Enel Green Power North America also raised approximately...

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    • 51 percent

      ownership stake

    • 119

      GE 1.68 megawatt wind turbines

    Close
    2012
    Equity
    Chisholm View
    Renewable
    Wind
    Oklahoma, US

    GE Partners with Enel Green Power to Power Up One of Oklahoma's Largest Wind Projects

    GRANT, OKLA. AND GARFIELD COUNTIES, OKLA., Apr 2, 2012 — GE (NYSE: GE) unit GE Energy Financial Services has partnered with Enel Green Power North America, Inc. by committing common equity for a 51 percent ownership stake in one of Oklahoma's largest wind projects. The Chisholm View wind project is now under construction near Hunter, 85 miles north of Oklahoma City in Grant and Garfield counties, and is expected to cost approximately $375 million. Enel Green Power North America owns the remaining 49 percent of the 235–megawatt wind farm and serves as project manager. Enel Green Power and GE Energy Financial Services will later raise tax equity for the wind farm. {{quote}} The project will be completed later this year prior to the Federal Production Tax Credit deadline. It will use 140 of GE's 1.6–megawatt wind...

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    GE Partners with Enel Green Power to Power Up One of Oklahoma's Largest Wind Projects

    "Through this deal, we are deepening our partnership with an established wind energy leader, Enel Green Power, and supporting their efforts as a common equity partner, representing an evolution in our US wind investing strategy."
    — Kevin Walsh Managing Director and Leader of Power and Renewable Energy at GE Energy Financial Services
    • 51 percent

      ownership stake

    • 140

      GE 1.6–megawatt wind turbines

    Close
    2012
    Equity
    Arlington Valley Solar Energy II
    Renewable
    Solar
    Arizona, US

    GE Energy Financial Services More Than Doubles Global Solar Power Investments to $1.4 Billion, For $5 Billion in Projects

    ARLINGTON, ARIZ., Feb 29, 2012 — GE (NYSE: GE) unit GE Energy Financial Services announced today it has more than doubled its global solar power investment commitments in the past year to $1.4 billion, for nearly $5 billion in projects. Its latest deal is a $100 million investment in a 127–megawatt project that will be built in Arizona. GE Energy Financial Services announced at the Infocast Solar Power Finance & Investment Summit in San Diego that its one–gigawatt portfolio spans 48 solar power plants – including 24 San Diego school rooftops –– in six countries: Australia, Canada, Italy, Portugal, Spain and the United States. {{quote}} Kevin Walsh, managing director and leader of power and renewable energy at GE Energy Financial Services, added that deploying capital at such large...

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    GE Energy Financial Services More Than Doubles Global Solar Power Investments to $1.4 Billion, For $5 Billion in Projects

    "We started last year with the goal of increasing our investments in solar power given improving solar technologies and decreasing costs, and have exceeded our own expectations by doubling our portfolio, investing in attractive projects across the globe."
    — Alex Urquhart President and CEO of GE Energy Financial Services
    • $1.4 billion

      global solar power investment commitments in the past year

    • 127 megawatt

      solar power project

    Close
    2012
    Equity
    Capricorn Ridge
    Renewable
    Wind
    Texas, US

    Expanding Its Texas Footprint, GE Unit Joins JP Morgan to Jointly Invest $225 Million in Nextera Energy Resources' 662.5 - MW Wind Farm

    SAN ANGELO, TEXAS, Feb 27, 2012 — Expanding its renewable energy portfolio in Texas, GE unit (NYSE: GE) GE Energy Financial Services has joined JP Morgan to jointly invest $225 million in a partnership that owns the 662.5–megawatt Capricorn Ridge wind farm in West Texas. A subsidiary of NextEra Energy Resources, LLC remains the majority owner and operator of the project. Additional financial details of the transaction were not disclosed. NextEra Energy Resources is a subsidiary of NextEra Energy, Inc. (NYSE: NEE). The Capricorn Ridge wind farm has been in operation since 2007 and employs 342 of GE Energy's 1.5–megawatt machines, the world's most widely deployed wind turbine, and 65 of Siemens' 2.3– megawatt machines. The project is located in Sterling and Coke counties in one of...

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    Expanding Its Texas Footprint, GE Unit Joins JP Morgan to Jointly Invest $225 Million in Nextera Energy Resources' 662.5 - MW Wind Farm

    "This investment demonstrates our ability to provide both the capital and equipment for critical energy infrastructure projects in support of GE's broader ecomagination strategy."
    — Kevin Walsh Managing Director and Leader of Power and Renewable Energy at GE Energy Financial Services
    • $225 million

      investment

    • 342

      GE 1.5 megawatt wind turbines

    Close
    2012
    Equity
    Clean Energy Fuels
    Oil & Gas
    N/A
    Texas, US

    GE and Clean Energy Fuels Partner to Expand "America's Natural Gas Highway"

    HOUSTON, TEXAS, Nov 13, 2012 — GE (NYSE: GE) and Clean Energy Fuels (Nasdaq: CLNE) today announced a collaboration to expand the infrastructure for natural gas transportation in the United States. The agreement supports Clean Energy's efforts in developing "America's Natural Gas Highway®," a fueling network that will enable trucks to operate on Liquefied Natural Gas (LNG) coast to coast and border to border. Truck fleets often can reduce fuel costs by more than 25 percent and lower emissions with LNG. As part of the collaboration, Clean Energy Fuels will initially purchase two ecomagination™–qualified MicroLNG plants from GE Oil & Gas. The plug–and–play modular units, which are designed to rapidly liquefy natural gas while minimizing a site's physical footprint,...

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    GE and Clean Energy Fuels Partner to Expand "America's Natural Gas Highway"

    • GE's MicroLNG Technology

      in use at two new LNG facilities

    • New MicroLNG Technology

      Builds on GE Oil & Gas' Global Success in Large LNG Projects

    Close
    2011
    Equity
    Monroe Peaking Power Plant
    Power
    Gas
    Georgia, US

    ArcLight Teams with GE and Singapore's GIC to Form Largest Fully Independent Power Producer in US Southeast

    MONROE, GA., Jan 24, 2011 — ArcLight Capital Partners, LLC ("ArcLight"), GE Energy Financial Services, a unit of GE (NYSE: GE), and the Government of Singapore Investment Corporation Pte Ltd ("GIC") announced today they have agreed to become partners in five Georgia natural gas–fired power plants that together make up the largest fully independent power producer in the southeastern United States. The GE unit and GIC will each acquire 24.95 percent of the portfolio from an affiliate of ArcLight, now its sole owner. An affiliate of ArcLight will retain 50.10 percent.Financial details of the transaction were not disclosed. The closing of the transaction remains subject to approval by the Federal Energy Regulatory Commission and Committee on Foreign Investment in the United States and is...

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    • 24.95 percent

      stake in five natural gas–fired power plants

    • Largest

      fully independent power producer

    Close
    2011
    Equity
    Su Scioffu
    Renewable
    Solar
    Cagliari, Italy

    Sunlight Will Grow Crops While Generating Electricity at Italy Greenhouse Co-Owned by Moser Baer and GE

    CAGLIARI, ITALY, Oct 18, 2011 — A greenhouse nearing completion in Italy will tap the sun's energy to grow crops while generating electricity from its roof–mounted photovoltaic modules in a project co–owned by clean energy developer Moser Baer Clean Energy Limited (MBCEL) and GE (NYSE: GE) unit GE Energy Financial Services. The companies announced today at Solar Power International, a major industry trade show and conference in Dallas, Texas, that GE Energy Financial Services has invested US$58 million in the 20–megawatt project near Cagliari in Sardinia, Italy. The greenhouse solar power project's first five megawatts began providing power to Italy's national electrical grid operator on Aug. 30, and 15 more megawatts are expected to go into service by the end of this month. The project...

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    Sunlight Will Grow Crops While Generating Electricity at Italy Greenhouse Co-Owned by Moser Baer and GE

    "It also demonstrates our interest in investing in development–stage projects, particularly those consistent with GE's ecomagination program."
    — Andrew Marsden Managing Director and European Leader at GE Energy Financial Services
    • 20 megawatt

      Italian solar project

    Close
    2011
    Equity
    Greenko Wind Project
    Renewable
    Wind
    India

    GE, Indian Clean Energy Developer Greenko Announce Venture to Develop Wind Energy Projects Across India

    NEW DELHI, INDIA, Oct 10, 2011 — Expanding GE's footprint in India and connection with one of the country's fastest growing clean energy developers, GE Energy Financial Services and Indian–based Greenko Group plc (AIM: GKO.L) have agreed to invest in a new venture to develop wind energy projects across India. The GE unit will invest US$50 million – its first renewable energy investment in India – to support the development of 500 megawatts of wind projects out of Greenko's planned development of one gigawatt of wind projects in India. Greenko has committed US$65 million for the venture, a newly created subsidiary of Greenko, known as Greenko Wind Project Private Limited. "This investment expands GE's presence in one of the world's fastest growing power markets with a local,...

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    GE, Indian Clean Energy Developer Greenko Announce Venture to Develop Wind Energy Projects Across India

    "In addition to capital, GE Energy Financial Services brings deep wind and other renewable energy expertise gained by building a US$6 billion portfolio of renewable energy investments worldwide."
    — Raghuveer Kurada Managing Director and Leader of India at GE Energy Financial Services
    • 500 megawatts

      in wind power projects

    • Expands GE's

      footprint in India

    Close
    2011
    Equity
    Desert Sunlight Solar Farm
    Renewable
    Solar
    California, US

    First Solar Sells 550-Megawatt Desert Sunlight Solar Farm, Among World's Largest; Hiring Already Under Way of Up to 630 People

    DESERT CENTER, CALIF., Sep 30, 2011 — First Solar, Inc. (Nasdaq:FSLR) today announced completion of the sale of one of the world's largest photovoltaic (PV) solar power projects – the 550–megawatt (AC) Desert Sunlight Solar Farm near Desert Center, Calif. First Solar – which will continue to build and subsequently operate and maintain the project under separate agreements – has sold the project to affiliates of NextEra Energy Resources, LLC, the competitive energy subsidiary of NextEra Energy, Inc. (NYSE:NEE), and GE Energy Financial Services. First Solar estimates that Desert Sunlight will employ up to 630 people for construction, which has begun. Converting sunlight into electricity, the solar power project will provide enough clean, affordable energy to power approximately 160,000...

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    First Solar Sells 550-Megawatt Desert Sunlight Solar Farm, Among World's Largest; Hiring Already Under Way of Up to 630 People

    "We are pleased to be able to expand our position as North America's leading generator of solar power."
    — Mitch Davidson NextEra Energy Resources President and CEO
    • 25%

      Stake

    • World's largest

      PV solar power project

    Close
    2011
    Equity
    Greenough River Solar Farm
    Renewable
    Solar
    Geraldton, Australia

    Australia's First Utility-Scale Solar PV Project Under Way in Western Australia

    GERALDTON, AUSTRALIA, Aug 31, 2011 — First Solar, Inc. (Nasdaq: FSLR), Verve Energy and GE (NYSE: GE) unit GE Energy Financial Services announced today that Australia's first utility–scale solar power project is under way. Output from the 10–megawatt AC project on 80 hectares of cleared land 50km southeast of Geraldton will contribute to offsetting the energy requirements of the Southern Seawater Desalination Plant. Western Australian state–owned power utility Verve Energy and GE Energy Financial Services will each own 50 percent of the Greenough River Solar Farm, with the WA Government providing A$20 million, including A$10 million from the WA Royalties for Regions program. No debt will be raised to fund the project. The WA Water Corporation, which is building the Southern Seawater...

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    Australia's First Utility-Scale Solar PV Project Under Way in Western Australia

    "This transaction enables us to apply our renewable energy investment expertise to a new market, add to our portfolio of projects with First Solar and to GE's broader work with Verve Energy."
    — Jason Willoughby GE Energy Financial Services
    • 0.5

      Stake

    • 1st

      renewable energy investment in Australia

    Close
    2011
    Equity
    Gratiot County Wind Project
    Renewable
    Wind
    Michigan, US

    Invenergy Secures Equity Financing from GE for Gratiot County Wind Project in Michigan

    BRECKNRIDGE, MICH., Oct 5, 2011 — Invenergy Wind LLC ("Invenergy") announced today it has arranged equity financing for its Gratiot County Wind Project ("Gratiot County Wind") in Michigan from GE Energy Financial Services, a unit of GE (NYSE: GE). GE Energy Financial Services will invest an undisclosed amount in the 110.4 megawatt project under construction near Breckenridge, Michigan. "This investment deepens our relationship with Invenergy, marking our fourth investment in its wind projects over the past four years," said Tim Howell, a managing director and the commercial leader of Power and Renewable Energy at GE Energy Financial Services. "It also supports ecomagination, GE's business strategy to create value for customers by solving energy, efficiency and water...

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    Invenergy Secures Equity Financing from GE for Gratiot County Wind Project in Michigan

    "This financing, together with our bank loan facilities that were recently completed, provide Invenergy with a strong investor base for our Gratiot County Wind project."
    — Jim Murphy Chief Financial Officer and Chief Operating Officer of Invenergy
    Close
    2011
    Equity
    Summit Midstream Partners, L.L.C.
    Oil & Gas
    N/A
    Texas, US

    GE Unit Invests in Summit Midstream, an Oil & Gas Midstream Service Provider

    DALLAS, TEXAS, Oct 12, 2011 — GE Energy Financial Services, a unit of GE (NYSE: GE), is expanding its oil and gas industry footprint by investing in Summit Midstream Partners, LLC, which acquires and develops midstream energy infrastructure in unconventional North American production basins. "Our investment in Summit Midstream builds on our strategy of partnering with growth–oriented companies with strong management and long–term contracted assets," said Dan Castagnola, a managing director at GE Energy Financial Services in Houston. "In working with Summit, we are drawing on our experience in many midstream sectors, as well as in unconventional gas." GE Energy Financial Services' current midstream equity and debt portfolio totals approximately $2.4 billion. It has invested in a...

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    • Expansion of O&G

      footprint with an investment in Summit Midstream Partners

    Close
    2010
    Equity
    Nuevo Pemex Cogeneration Plant
    Power
    Gas
    Tabasco, Mexico

    Abengoa, GE to Invest US $180 Million for Mexico's Largest Cogeneration Power Plant, Helping Mexico Meet Energy Efficiency Goals

    TABASCO, MEXICO, Jun 21, 2010 — Subsidiaries of Spain–based Abengoa (MCE: ABG.MC) and GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that they will invest US$180 million to develop the largest cogeneration power plant in Mexico.The 300–megawatt gas–fired facility with a total project cost of US$640 million will be located at the Nuevo Pemex gas processing complex, owned by Pemex Gas y Petroquímica Básica, a subsidiary of Mexican state oil company Pemex. Located near Villahermosa, Tabasco, the plant will supply Nuevo Pemex with power and steam under a 20–year services agreement. Powered by cleaner burning natural gas, the facility will help the Mexican government meet its commitment to reduce greenhouse gas emissions by 50 percent below 2002 levels by the...

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    Abengoa, GE to Invest US $180 Million for Mexico's Largest Cogeneration Power Plant, Helping Mexico Meet Energy Efficiency Goals

    • $72 million

      Equity Investment

    • 300 megawatt

      gas–fired facility

    Close
    2010
    Equity
    CPV Keenan II
    Renewable
    Wind
    Oklahoma, US

    GE Energy Financial Services Invests in Oklahoma Wind Farm, Calls for Stronger US Renewable Energy Incentives

    WODDWARD, OK, Feb 16, 2010 — Maintaining momentum in its renewable energy investing, GE Energy Financial Services, a unit of GE (NYSE: GE), announced today it had made an equity investment in a wind farm CPV Renewable Energy Company is developing in Oklahoma.GE Energy Financial Services is making a $65 million preferred equity investment to fund construction of the CPV Keenan II wind farm, with an option to invest $100 million more inpartnership equity upon commencement of commercial operations. CPV Renewable EnergyCompany –– an affiliate of Competitive Power Ventures, Inc. –– plans to begin construction this month of the 152–megawatt wind farm, 12 miles southwest of Woodward, Oklahoma. The project is scheduled for completion by year's end.The project, estimated to cost $319...

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    GE Energy Financial Services Invests in Oklahoma Wind Farm, Calls for Stronger US Renewable Energy Incentives

    • $319 million

      wind farm in Oklahoma

    • $65 million

      preferred equity investment

    Close
    2009
    Equity
    Dokie Wind Project
    Renewable
    Wind
    British Columbia, Canada

    GE, Plutonic Power, Purchase and Prepare to Resume Construction of British Columbia’s Largest Wind Farm

    VANCOUVER, BC AND STAMFORD, CT, Dec 11, 2009 — GE Energy Financial Services, a unit of GE (NYSE: GE), and Plutonic Power Corporation (TSX:PCC) have completed their purchase and will resume construction of the 300–megawatt Dokie Wind Project, British Columbia's largest wind farm.GE and Plutonic jointly contributed C$52.5 million to purchase the fully permitted project located 1,100 kms northeast of Vancouver from EarthFirst Canada Inc. The companies have formed a partnership through which they will construct and operate the project's first phase, which will have the capacity to generate 144 MW and is expected to reach commercial operation by early 2011. Construction is scheduled to ramp up next month, with most of the work commencing in the spring.The Manufacturers Life Insurance Company (Manulife) (TSX, NYSE: MFC) led...

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    GE, Plutonic Power, Purchase and Prepare to Resume Construction of British Columbia’s Largest Wind Farm

    • C$52.5 million

      Investment

    • 300 megawatt

      Dokie Wind Project

    Close
    2009
    Equity
    Blue Canyon V
    Renewable
    Wind
    Oklahoma, US

    GE Invests $117 Million in EDP Renewables' Oklahoma Wind Farms and Additional $111 Million in Established Wind Farm Portfolio

    LAWTON, OKLA. AND ELGIN, OKLA., Dec 2, 2009 — GE Energy Financial Services, a unit of GE (NYSE: GE), in partnership with Horizon Wind Energy LLC, ––owned by EDP Renewables (NYSE Euronext: EDPR) –– is investing $117 million in an Oklahoma windfarm.Horizon Wind Energy's Blue Canyon V wind farm is a 99 MW expansion of a 225– megawatt wind farm near the small towns of Lawton and Elgin in Comanche County and Apache in Caddo County in southwest Oklahoma. In operation since last month, this project was built with GE 1.5–megawatt turbines and supplies its power to the Public Service Company of Oklahoma under a 20–year contract."Through this transaction, GE Energy Financial Services is putting millions of dollars to work in an attractive wind project in rural America with a developer we...

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    GE Invests $117 Million in EDP Renewables' Oklahoma Wind Farms and Additional $111 Million in Established Wind Farm Portfolio

    • 99 megawatt

      expansion

    • 225 megawatt

      wind farm in Oklahoma

    Close
    2009
    Equity
    Rattlesnake Road
    Renewable
    Wind
    Oregon, US

    GE Invests $117 Million in EDP Renewables' Oklahoma Wind Farms and Additional $111 Million in Established Wind Farm Portfolio

    GILLIAM COUNTY, ORE., Feb 2, 2009 — GE Energy Financial Services, a unit of GE (NYSE: GE), in partnership with Horizon Wind Energy LLC, ––owned by EDP Renewables (NYSE Euronext: EDPR) –– is investing $117 million in an Oklahoma windfarm.Horizon Wind Energy's Blue Canyon V wind farm is a 99 MW expansion of a 225– megawatt wind farm near the small towns of Lawton and Elgin in Comanche County and Apache in Caddo County in southwest Oklahoma. In operation since last month, this project was built with GE 1.5–megawatt turbines and supplies its power to the Public Service Company of Oklahoma under a 20–year contract."Through this transaction, GE Energy Financial Services is putting millions of dollars to work in an attractive wind project in rural America with a developer we...

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    GE Invests $117 Million in EDP Renewables' Oklahoma Wind Farms and Additional $111 Million in Established Wind Farm Portfolio

    • $117 million

      Investment

    • 604 megawatts

      generation from three wind farms

    Close
    2009
    Equity
    Shepherds Flat
    Renewable
    Wind
    Oregon, US

    GE Receives $1.4 Billion Contract to Supply Turbines for Largest Wind Farm Ever Built in the US

    GILLIAM, ORE. AND MORROW COUNTIES, ORE., Dec 10, 2009 — GE (NYSE:GE) announced today it has received a $1.4 billion contract from independent power producer Caithness Energy to supply wind turbines and provide services for an 845–megawatt (MW) wind farm project to be located in Oregon. The wind farm, called Shepherds Flat, has received the majority of the necessary government permits to operate and is ready to be built. When completed it will be larger than any wind farm currently in operation around the globe."This project underscores our commitment to harness the power of wind to meet present and future energy needs while reducing greenhouse emissions. The Shepherds Flat project will add more renewable energy to the west coast's energy mix and help the region meet its demand for clean energy," said Les Gelber, a...

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    GE Receives $1.4 Billion Contract to Supply Turbines for Largest Wind Farm Ever Built in the US

    "GE wind turbines have a strong track record of performance that has been proven in nearly every form of climate worldwide. Their ability to continually advance wind turbine technology will help us to provide our customer, Southern California Edison, with the reliability they expect."
    — Les Gelber a partner at Caithness Energy
    • 845 megawatt

      wind farm project

    • 338

      GE 2.5xl wind turbines

    Close
    2008
    Equity
    Tatanka Wind Farm
    Renewable
    Wind
    North Dakota and South Dakota, US

    GE Unit Partners with Leading Wind Farm Developer in $381 Million Project

    N.D. AND S.D., Aug 11, 2008 — GE Energy Financial Services, a unit of GE (NYSE:GE), announced today it is partnering with ACCIONA, a world leader in wind farm development, and is investing $141 million in the Tatanka Wind Farm on the North Dakota–South Dakota border. The transaction represents the GE unit's first wind equity investment in the Dakotas and the first wind farm in the United States built entirely by ACCIONA (IBEX–35 ANA.MC).GE Energy Financial Services invested with Wachovia Investment Holdings LLC to provide structured equity for the 180–megawatt wind farm, which spans 14,000 acres of farmland in Dickey, McIntosh and McPherson counties in North and South Dakota. The $381 million project, which went into commercial operation last month, uses 120 ACCIONA 1.5 megawatt turbines to...

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    GE Unit Partners with Leading Wind Farm Developer in $381 Million Project

    "We are helping ACCIONA with Tatanka –– whose name is inspired by the Lakota Indian tribal word for the buffalo that once roamed the Midwest –– to charge into the American wind industry with a major project in the best wind farming area of the United States."
    — Tim Howell Managing Director and origination leader of renewable energy at GE Energy Financial Services
    • $381 million

      structured equity investment

    • 120

      ACCIONA 1.5 megawatt turbines

    Close
    2008
    Equity
    The Noble Chateaugay Windpark
    Renewable
    Wind
    New York, US

    GE Unit Surpasses $4 Billion Renewable Energy Mark with NY Wind Farm Investment

    FRANKLIN COUNTY, N.Y., Jul 9, 2008 — With a goal of investing $6 billion in renewable energy by 2010, GE Energy Financial Services surpassed the $4 billion mark today by investing in New York State's three newest wind farms. The unit of GE (NYSE: GE) will invest a total of $100 million in the three wind farms, whose construction began last month."We have reached the $4 billion milestone justfive months after hitting $3 billion, confirming that renewable energy is our fastes t–growing business," said Alex Urquhart, President and CEO of GE Energy Financial Services.{{quote}}GE Energy Financial Services closed more than $2 billion of renewable energy transactions last year, and by 2010 expects they will comprise 20–25 percent of its overall energy and water portfolio, up from about 10 percent in...

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    GE Unit Surpasses $4 Billion Renewable Energy Mark with NY Wind Farm Investment

    "Such project–level investments—coupled with our venture capital investing in clean tech, GE's technology and research—reinforce GE's company–wide leadership in renewable energy."
    — Alex Urquhart President and CEO of GE Energy Financial Services
    • $100 million

      in three Noble Environmental Power wind farms

    • $4 billion

      in renewable energy investments

    Close
    2008
    Equity
    McAdoo
    Renewable
    Wind
    Texas, US

    GE Unit Invests in Texas, Illinois Wind Projects with Invenergy

    DICKENS COUNTY, TEXAS, Mar 17, 2008 — GE Energy Financial Services, a unit of GE(NYSE: GE), is partnering for the third time with leading global wind power developer Invenergy Wind LLC, by investing in Illinois and Texas wind farms that will produce emissions–free electricity equivalent to taking 96,000 average US cars off the road. Together, the two projects will produce nearly 250 megawatts of power.GE Energy Financial Services is investing in the McAdoo wind farm in Dickens County east of Lubbock, Texas, and the Grand Ridge wind farm in La Salle County, Illinois, 80 miles southwest of Chicago. The McAdoo wind energy project will employ 100 GE 1.5–megawatt wind turbines. The Grand Ridge wind project will employ 66 GE 1.5–megawatt wind turbines. Both projects are expected to come online in the third...

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    GE Unit Invests in Texas, Illinois Wind Projects with Invenergy

    • Equity investment

      in Texas and Illinois wind farms

    • Expands

      partnership with Invenergy Wind

    Close
    2008
    Equity
    Forward Energy
    Renewable
    Wind
    Wisconsin, US

    Invenergy Completes Equity Placement for its Forward Energy Wisconsin Wind Farm

    DODGE, WIS. AND FOND DU LAC COUNTIES, WIS., Feb 5, 2008 — Invenergy Wind LLC ("Invenergy") announced the closing of equity financing for its Forward Energy wind farm in Dodge and Fond du Lac Counties, Wisconsin. The equity will be provided by GE Energy Financial Services, a unit of General Electric (NYSE: GE). In October 2007, Invenergy closed construction and term debt financing for this facility. The debt was co–underwritten by Dexia Credit Local and Nord/LB.The Forward Energy wind farm will utilize GE's 1.5MW SLE wind turbines. Eighty–six wind turbines, representing 129 MW of electric capacity, are under construction and the facility is expected to be fully operational by June, 2008. Power will be sold under long–term contracts with Wisconsin Public Service, Wisconsin Power and Light, Madison Gas and...

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    Invenergy Completes Equity Placement for its Forward Energy Wisconsin Wind Farm

    • 1st

      investment in Wisconsin

    • More than triples

      Wisconsin's installed wind energy capacity

    Close
    2008
    Equity
    Hackberry
    Renewable
    Wind
    Texas, US

    GE, RES Partner on New Wind Farm, Adding Clean Energy to Texas Oil Drilling Area

    SHACKELFORD COUNTY, TEXAS, Jan 9, 2008 — GE Energy Financial Services, a unit of GE (NYSE: GE), is investing in a $350 million, 166–megawatt wind generation project to supply Austin with renewable, clean power from an area traditionally better known for oil, ranching and farming.The project's developer, Renewable Energy Systems Americas Inc., is beginning construction of the Hackberry wind farm in Shackelford County 30 miles northeast of Abilene this month, and is scheduled to complete it by December. The project will annually produce power sufficient for 39,000 homes and avoid 389,000 tons a year in greenhouse gas emissions, compared to equivalent fossil fuel generation.The Hackberry wind project will employ 72 Siemens MK II 2.3–megawatt wind turbines. Financial details of the transaction were not...

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    GE, RES Partner on New Wind Farm, Adding Clean Energy to Texas Oil Drilling Area

    "We are delighted to have completed our first investment with RES, deepened our profile in Texas and reinforced our commitment to the wind power and overall renewables sectors."
    — Kevin Walsh Managing Director and Leader of Renewable Energy at GE Energy Financial Services
    • 166 megawatt

      wind generation project

    Close
    2008
    Equity
    Elkhorn Valley
    Renewable
    Wind
    Oregon, US

    GE Unit Boosts 2010 Renewable Energy Investing Target to $6 Billion, Announces Its Largest Wind Deal

    UNION COUNTY, ORE., Jan 14, 2008 — Reinforcing GE's ecomagination program, GE Energy Financial Services announced today that it has raised its 2010 renewable energy investing target by 50 percent to $6 billion, and has just topped $3 billion. GE Energy Financial Services, a unit of GE (NYSE: GE), crossed the $3 billion mark with its single highest–value wind deal, a $300 million investment in wind projects spanning four states.GE Energy Financial Services is investing equity in the 600–megawatt portfolio of wind farms in Oregon, Minnesota, Illinois and Texas owned by Houston–based Horizon Wind Energy LLC, a large US wind farm developer that is a subsidiary of EDP – Energias de Portugal SA. GE Energy Financial Services' goal of investing $6 billion in renewable energy by 2010 is a...

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    • Tallest wind farm

      in the United States

    • 101 megawatt

      project in Smoky Hills, Kansas

    Close
    2008
    Equity
    Snyder Wind
    Renewable
    Wind
    Texas, US

    Enel, GE Soar to New Heights At Texas Wind Farm with Tallest Turbine Towers in US, Also Partner on Kansas Wind Project

    SCURRY COUNTY, TEXAS, Jan 10, 2008 — Enel SpA, through its subsidiary Enel North America, Inc., announced today the completion of a wind farm in Texas with the tallest utility–scale wind turbines in the United States as well as investments by an affiliate of GE Energy Financial Services, the energy investing unit of GE (NYSE: GE).The Snyder Wind project in Scurry County, Texas, between Abilene and Lubbock, comprises 21 Vestas V90 3.0 megawatt wind turbines mounted on towers measuring a record–breaking 345 feet. Construction was completed in December 2007."The Snyder project takes both wind and Enel to new heights," said Toni Volpe, Enel North America CEO. "The project represents the first of several wind farms slated to come online in the next 12 months which will more than triple Enel North...

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    Enel, GE Soar to New Heights At Texas Wind Farm with Tallest Turbine Towers in US, Also Partner on Kansas Wind Project

    • Investment in

      the U.S.'s tallest wind farm

    • Invesment in

      101–megawatt project at Smoky Hills, Kansas

    Close
    2008
    Equity
    Toyota Motor Sales
    Renewable
    Solar
    California, US

    GE Unit Partners with Sunpower on California Solar Projects; Multi-Project Financing Agreement Streamlines Solar Power System Implementation

    ONTARIO, CALIF., Jan 7, 2008 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that it is partnering with SunPower Corporation (NASDAQ: SPWR) –– a Silicon Valley–based manufacturer of high–efficiency solar cells, solar panels, and solar systems –– to provide financing for five California solar power projects. The projects, totaling approximately eight megawatts, include a system for Toyota Motor Sales' Parts Center that will be the largest single–roof solar power installation in the United States. The companies are also collaborating on solar projects for HP, Agilent and two county and regional agencies.Formed in the spirit of GE's ecomagination program, the joint venture streamlines the implementation of large commercial and public solar...

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    GE Unit Partners with Sunpower on California Solar Projects; Multi-Project Financing Agreement Streamlines Solar Power System Implementation

    • Multi–project financing agreement

      for five CA solar power projects, totaling approximately 8 megawatt

    • Streamlines

      the implementation of large commercial and public solar power systems

    Close
    2007
    Equity
    Shady Hills Power Plant
    Power
    Gas
    Florida, US

    GE Unit Agrees to Acquire Fully-Contracted, Contemporary Power Plant Serving the Growing Central Florida Market

    TAMPA, FLA., May 9, 2007 — GE Energy Financial Services agreed to purchase the 517–megawatt Shady Hills power plant, located approximately 30 miles north of Tampa, Florida from LS Power Equity Partners, a member of LS Power Group, the private power sector investor, developer and manager, the companies announced today. Financial details were not disclosed. The transaction is subject to regulatory approvals and customary closing conditions.Employing three GE Frame 7FA gas turbines, the Shady Hills plant began commercial operation as a peaker plant – generating power during periods of peak demand – in March 2002. The duel–fueled (natural gas and low sulfur fuel oil) simple–cycle power plant facility's entire output is contracted to a local utility through 2024. Operation...

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    GE Unit Agrees to Acquire Fully-Contracted, Contemporary Power Plant Serving the Growing Central Florida Market

    • 517 megawatt

      power plant

    • 3

      GE Frame 7FA gas turbines

    Close
    2007
    Equity
    Stanton Wind Energy L.L.C.
    Renewable
    Wind
    Texas, US

    GE Unit Invests In New Texas Wind Projects with Invenergy

    STANTON, TEXAS, Nov 1, 2007 — GE Energy Financial Services, a unit of General Electric Company (NYSE: GE), is investing in a 120–megawatt wind farm in Texas with Invenergy Wind LLC, a leading global wind power developer.GE Energy Financial Services is investing in the Stanton Wind Energy LLC project. Financial details were not disclosed. Sited in a region known for oil and gas production, farming and ranching in Martin County in west Texas, midway between Fort Worth and El Paso, the Stanton Wind farm will employ 80 GE 1.5–megawatt sle wind turbines. Started in the summer of 2007, construction is scheduled for completion by April 2008, when Stanton will annually produce power sufficient for 37,000 homes and avoid 285,000 tons a year in greenhouse gas emissions, compared to equivalent fossil fuel...

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    GE Unit Invests In New Texas Wind Projects with Invenergy

    • 37,000 homes

      Powered Annually

    • 80

      GE 1.5–megawatt SLE Wind Turbines

    Close
    2007
    Equity
    Champion Wind Farm
    Renewable
    Wind
    Texas, US

    GE Invests in Third Airtricity Wind Farm in Texas, Again Helping Customer Grow in Booming US Wind Market

    ROSCOE, TEXAS, Sep 20, 2007 — GE Energy Financial Services, a unit of General Electric (NYSE: GE), is helping renewable energy company Airtricity, Inc. grow in the booming US wind energy market and boosting its own portfolio by investing in a 126.5–megawatt wind farm under construction in West Texas.GE Energy Financial Services is investing alongside Airtricity – the project developer and operator –– in the $231 million Champion Wind Farm in Roscoe in Mitchell and Nolan counties, 40 miles southwest of Abilene in a cotton farming area. This is GE Energy Financial Services' third wind farm investment with Airtricity and Airtricity's first project in North America not governed by a traditional long–term power purchase agreement. Additional financial details were not...

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    GE Invests in Third Airtricity Wind Farm in Texas, Again Helping Customer Grow in Booming US Wind Market

    • $231 million wind project

      utilizing 55 2.3–megawatt Siemens turbines

    • 126.5 megawatt

      West Texas wind farm

    Close
    2007
    Equity
    Scholl Canyon Landfill
    Renewable
    Biomass
    California, US

    GE Diversifies in Renewable Energy, Acquires One of Nation's Largest Landfill Gas Projects, in California

    GLENDALE, CALIF., Jul 17, 2007 — GE Energy Financial Services, the energy investing unit of GE (NYSE:GE), is diversifying its renewable energy portfolio by increasing its investment in one of the largest landfill gas–to–energy projects in the United States. GE Energy Financial Services acquired a 90 percent interest in a limited partnership that operates the Scholl Canyon Landfill gas project in Glendale from Scholl Canyon Landfill Gas Corp., an affiliate of Palmer Capital Corp., which will continue to manage and direct the operations.No financial information about the transaction was disclosed.The new GE investment, building on loans it acquired for the project in 2002, helps the environment by capturing and using methane, a powerful greenhouse gas that decomposing landfill waste emits. The methane would...

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    GE Diversifies in Renewable Energy, Acquires One of Nation's Largest Landfill Gas Projects, in California

    • 0.9

      interest acquisition

    • One of the U.S.'s

      largest landfill gas projects

    Close
    2007
    Equity
    Noble Clinton Windpark
    Renewable
    Wind
    New York, US

    GE Unit's First Investments in NY Wind Energy to Boost State's Wind Power by Over 70 Percent

    CLINTON COUNTY, N.Y., Jun 25, 2007 — GE Energy Financial Services, a unit of GE (NYSE: GE), will help boost wind energy capacity in New York State by more than 70 percent with an investment in three Noble Environmental Power windparks that will generate 282 megawatts in Clinton and Wyoming Counties. The GE unit's first investment in wind energy in New York State will increase the state's wind energy capacity to 671 megawatts. The projects, located in the towns of Clinton and Ellenburg in Clinton County, and Bliss in Wyoming County, New York, represent a $564 million investment in clean, renewable energy that will bring an estimated $352 million in new revenue to the regional economies over the next 20 years.GE Energy Financial Services will invest the Class A equity as the non–managing member and Noble...

    Read Full Press Release
    • First Iinvestment

      In Wind Energy in New York State

    • 282 megawatt

      Generation

    Close
    2007
    Equity
    Allegheny Ridge II
    Renewable
    Wind
    Pennsylvania, US

    GE Unit Makes One of Its Largest Wind Portfolio Investment Commitments; Wind Farms in California, Illinois, New Mexico, Pennsylvania

    CAMBRIA, PA. AND BLAIR COUNTIES, PA., Feb 15, 2007 — GE Energy Financial Services, a unit of General Electric (NYSE: GE), announced today that it has committed to invest in a 410–megawatt wind farm portfolio, among its single largest wind investments. GE Energy Financial Services has committed to invest approximately $270 million for 70 percent of the Class A equity, with a subsidiary of Wachovia Corp. (NYSE: WB), providing the balance, in six wind farms in California, Illinois, New Mexico and Pennsylvania, until now wholly owned by affiliates of global investment and advisory firm Babcock & Brown (ASX: BNB). Affiliates of Babcock & Brown will be the manager and will remain as Class B equity co–investors in the portfolio. Additional financial details were not disclosed. GE Energy Financial Services made the...

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    • $270 million

      Invesment

    • Six Wind Farms

      In Four States

    Close
    2007
    Equity
    Bobcat Gas Storage
    Oil & Gas
    N/A
    Louisiana, US

    GE Unit Makes First Investment in Natural Gas Storage, Expanding Its Midstream Assets

    ST. LANDRY PARISH, LA., Feb 21, 2007 — GE Energy Financial Services, a unit of General Electric (NYSE: GE), is making its first investment in natural gas storage, acquiring a preferred equity interest in an underground salt dome storage project in Louisiana for $65 million from Haddington Energy Partners III LP, a Houston–based, energy–focused private equity fund.The investment, which will also help cover the project's capital expenditures, enables GE Energy Financial Services to expand in midstream energy, where it already co–owns pipelines, retail distribution and gas processing assets.The Bobcat gas storage project –– which the fund's sponsor, Haddington Ventures, LLC, sourced and developed –– is strategically located in St. Landry Parish, Louisiana, 45 miles from Henry...

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    GE Unit Makes First Investment in Natural Gas Storage, Expanding Its Midstream Assets

    • First Investment

      In Natural Gas Storage

    • Expands

      Efforts in Midstream Energy

    Close
    2006
    Equity
    Tynagh Power Plant
    Power
    Gas
    County Galway, Ireland

    Forty Percent Stake in Ireland's Newest, Highly Efficient Power Plant to Be Acquired by GE Energy Financial Services

    COUNTY GALWAY, IRELAND, May 18, 2006 — GE Energy Financial Services announced today that it has agreed to acquire a 40 percent interest in Ireland's newest and most efficient natural gas–fired power plant, subject to customary closing conditions.GE Energy Financial Services is acquiring the stake in the 400–megawatt Tynagh power plant in County Galway from GAMA Construction Ireland Ltd, part of GAMA Holding AS. GAMA retains a 40 percent interest in the plant, which commenced operations in March 2006. GAMA, working in a joint venture with General Electric International, began construction of the plant in March 2004. The construction period was one of the shortest to date worldwide for this highly efficient technology.{{quote}}Andrew Marsden, Managing Director of GE Energy Financial Services' European...

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    Forty Percent Stake in Ireland's Newest, Highly Efficient Power Plant to Be Acquired by GE Energy Financial Services

    "We are very pleased to be investing in Tynagh Energy. Tynagh is a first class project which benefits from state of the art equipment, a supportive contractual structure and experienced operators."
    — Alex Urquhart President and CEO of GE Energy Financial Services
    • 0.4

      Stake in GAMA Power Plant

    • 400 megawatt

      gas–fired power plant

    Close
    2006
    Equity
    Russell City Energy Center
    Power
    Gas
    California, US

    Calpine Recieves Court Approval to Sell An Interest in Its Russell City Energy Center to GE Energy Financial Services

    SAN JOSE, CALIF., Sep 21, 2006 — The U.S. Bankruptcy Court for the Southern District of New York today approved the sale of a 35–percent equity interest in Calpine Corporation's [OTC Pink Sheets: CPNLQ] Russell City Energy Center to GE Energy Financial Services for approximately $44 million. Calpine will own the remaining 65–percent interest. GE Energy Financial Services' equity will be applied toward completion of development and construction of the power plant, and it also will provide related credit support for the project. The Russell City Energy Center is a proposed 600–megawatt, natural gas–fired power plant to be built in Hayward, Calif. that will help power the San Francisco Bay Area."With the growing demand for power in California, especially the Bay Area, the Russell City...

    Read Full Press Release
    • 35%

      equity interest

    • $44 million

      equity investment

    Close
    2006
    Equity
    Linden Power Plant
    Power
    Gas
    New Jersey, US

    Statement Regarding the Linden Power Plant

    LINDEN, N.J., Feb 28, 2006 — GE Energy Financial Services has agreed to acquire the common equity of East Coast Power LLC, holder of the general partner interests in the more than 900–megawatt Linden power plant in New Jersey, from Goldman Sachs. The acquisition follows GE Energy Financial Services' strategy of growing by investing in energy infrastructure.Linden is among the biggest and most efficient power producers in the critical New York–New Jersey market, a plant Energy Financial Services knows well because GE Energy supplied the turbines for the plant and operates it. In addition, Energy Financial Services financed Linden's construction and has made partnership equity and debt investments in it. GE's proprietary power market models confirm the plant's long–term value and...

    Read Full Press Release

    Statement Regarding the Linden Power Plant

    • 900 megawatt

      Linden power plant in New Jersey

    • one of the biggest

      and most efficient power producers in the NY and NJ markets

    Close
    2006
    Equity
    SourceGas
    Oil & Gas
    N/A
    Colorado, Nebraska, Wyoming, US, and Hermosillo, Mexico

    Kinder Morgan, Inc. Agrees to Sell Retail Gas Operations to GE Energy Financial Services.GE Unit Expanding Its Pipeline Investing Into Retail Gas Distribution

    COLO., NEB., WYO., AND HERMOSILLO, MEXICO, Aug 14, 2006 — Kinder Morgan, Inc. (NYSE: KMI) today announced it will sell its natural gas retail distribution and related operations serving 260,000 customers in Colorado, Nebraska, Wyoming and Hermosillo, Mexico, to GE Energy Financial Services for $710 million plus working capital. The transaction is subject to certain closing conditions and regulatory approvals, including approvals from state utility commissions. The transaction is expected to close by the end of the first quarter of 2007.The retail business serves residential, commercial, agricultural and industrial customers through 11,400 miles of distribution and transmission pipelines, underground storage fields, fieldsystem lines and related facilities.KMI Chairman and CEO Richard D. Kinder said, "This is a good business that...

    Read Full Press Release
    • $710 million

      Equity Investment

    • 11,400 miles

      Distribution Pipelines

    Close
    2005
    Equity
    Southern Star
    Oil & Gas
    N/A
    Kansas, Oklahoma, Missouri, Wyoming, Nebraska, Colorado and Texas, US

    GE Commercial Finance and Caisse De Depot Et Placement Du Quebec Agree to Buy Major Midwestern Gas Pipeline From AIG Highstar Capital

    KAN., OKLA. MO., WYO., NEB., COLO., AND TEXAS, Jul 11, 2005 — GE Commercial Finance Energy Financial Services – a major global energy investor – and Caisse de dépt et placement du Québec – Canada's largest institutional investor – have agreed to buy the Southern Star gas pipeline system from AIG Highstar Capital. The purchase price is $362 million, plus the assumption of $476 million in debt and preferred stock.The sale is subject to customary closing and regulatory approvals, expected within the third quarter of this year. Southern Star is a regulated interstate natural gas pipeline spanning more than 6,000 miles in Kansas, Oklahoma, Missouri, Wyoming, Nebraska, Colorado and Texas. In addition to the pipeline, the system includes 39 compressor stations and eight gas storage fields. Customers include...

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    GE Commercial Finance and Caisse De Depot Et Placement Du Quebec Agree to Buy Major Midwestern Gas Pipeline From AIG Highstar Capital

    • 6,000 miles

      Southern Star Gas Pipeline

    • $476 million

      Debt and preferred stock

    Close
    2004
    Equity
    ACE Power Plant
    Power
    Coal
    California, US

    El Paso Corporation Closes Sale of Interest in ACE Power Plant

    TRONA, CALIF., Sep 20, 2004 — El Paso Corporation (NYSE:EP) announced today that it has closed the sale of an approximate 35–percent interest in the ACE power plant to an affiliate of GE Commercial Finance's Energy Financial Services (EFS), for $50.4 million and the sale of an approximate 13–percent interest in the plant to Northern Star Generation, LLC for approximately $19.5 million. The plant is a 102–megawatt coal–fired facility located in Trona, California.The ACE power plant was among the 25 domestic power plants that El Paso had agreed to sell to Northern Star Generation, LLC. An affiliate of EFS had a right of first refusal to purchase the 35–percent interest and exercised that option accordingly. Per its existing agreement, Northern Star purchased El Paso's remaining...

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    El Paso Corporation Closes Sale of Interest in ACE Power Plant

    • 102 megawatt

      coal–fired ACE Power Plant

    Close
    2004
    Equity
    Oyster Creek
    Power
    Gas
    Texas, US

    Dynegy Provides Update on Sale of Interests in Non-Core Generation Assets

    FREEPORT, TEXAS, Mar 31, 2004 — Dynegy Inc. (NYSE: DYN) today provided an update on its previously announced agreements to sell its 50 percent interests in the 424–megawatt Oyster Creek natural gas–fired qualifying facility (QF) located in Freeport, Texas and the 123–megawatt Michigan Power natural gas–fired QF located near Ludington, Mich. The buyer of Dynegy's Oyster Creek interest will be an affiliate of GE Commercial Finance's Energy Financial Services unit. The two transactions, which are expected to close early in the second quarter of 2004, are subject to the receipt of required lender and counterparty consents. The total proceeds generated by the two sales are anticipated to be approximately $103 million, which will result in a net, pre–tax gain of approximately $15...

    Read Full Press Release
    • 0.5

      interest

    • 424 megawatt

      natural gas–fired qualifying facility

    Close
    2004
    Equity
    CrossCountry Energy
    Oil & Gas
    N/A
    Florida to California, US

    Natural Gas Pipeline Acquisition, Largest for GE Commercial Finance Energy Financial Services, Caps Year of Record Growth

    FLA. TO CALIF., Nov 17, 2004 — GE Commercial Finance Energy Financial Services, in partnership with Southern Union Company (NYSE: SUG), completed the acquisition today of CrossCountry Energy, a 7,400–mile natural gas pipeline network spanning most of the region from Florida to California. This $2.45 billion purchase is GE Commercial Finance Energy Financial Services' largest in natural gas transportation and caps a year of record growth and diversification.Diversification beyond electric power investments has been a key to GE Commercial Finance Energy Financial Services' double–digit growth this year. Other strategic actions include growing in oil and gas reserves and electricity transmission and distribution. In addition, GE Commercial Finance Energy Financial Services has been expanding into...

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    "Our partnership with Southern Union reflects our keen interest in teaming up with leading energy companies to help them grow."
    — Alex Urquhart President and CEO of GE Commercial Finance Energy Financial Services
    • Largest Pipeline Acquisition

      for GE Energy Financial Services

    Close
  • Limited Partnership (LP) Projects

    (Click below to expand)

    Year
    Product
    Company Name
    Sector
    Technology
    Location
    2014
    LP
    Vess Oil Corp.
    Oil & Gas
    N/A
    College Station, TX

    GE Energy Financial Services, Vess Oil, Partner for Third Time to Acquire East Texas Oil and Gas Reserves

    COLLEGE STATION, TX, Jan 8, 2014 — GE Energy Financial Services, a unit of GE (NYSE: GE), has formed its third partnership with a Vess Oil Corp. affiliate to purchase oil reserves in East Texas for $108 million. The partnership is acquiring approximately 13,000 net acres and associated Woodbine production from an affiliate of EnerVest, Ltd. The assets are located approximately 20 miles northeast of College Station in Brazos, Madison and Grimes counties, and the target zones are the existing Woodbine and prospective Eagle Ford formations. GE Energy Financial Services invested $77 million for a majority stake and limited partner role, with a Vess Oil affiliate acquiring the remaining interest and serving as general partner and operator. Additional financial details were not disclosed. The companies partnered...

    Read Full Press Release
    " We are excited to be partnering again with the Vess team. This transaction contributes to the growth not only of Vess but also the seller, EnerVest, both of which have played a significant role in our success over the past two decades. "
    — Ray Edgar Managing Director and leader of the Oil and Gas team at GE Energy Financial Services
    • Majority

      Limited Partership

    • 13,000 net acres

      oil & gas reserves

    Close
    2012
    LP
    Howard Energy Partners
    Oil & Gas
    N/A
    Texas, US

    Fueling Unconventional Oil & Gas Infrstructure, GE Unit Backs Howard Energy Partners' Acquistion of South Texas Gas Pipeline

    SAN ANTONIO, TEXAS, Mar 15, 2012 — Fueling the build out of unconventional oil, gas and gas liquids infrastructure to support North American shale, GE (NYSE: GE) unit GE Energy Financial Services has invested in Howard Energy Partners, owner and operator of 280 miles of natural gas pipelines in the Eagle Ford Shale of South Texas. Howard Energy will double its size by using the investment to partially fund the acquisition of Meritage Midstream Services' natural gas gathering assets in South Texas.GE acquired a 30.6 percent stake in Howard Energy for an undisclosed amount. Other investors were Crosstex Energy, L.P. (NASDAQ: XTEX), Quanta Services, Inc. (NYSE: PWR) and Clear Springs Energy Company LLC. This transaction is expected to close in April, subject to regulatory approvals and customary closing conditions. ...

    Read Full Press Release
    • 0.306

      Stake in Howard Energy Partners

    • 185 miles

      of Meritage pipelines

    Close
    2012
    LP
    Burnett Petroleum Co.
    Oil & Gas
    N/A
    Texas, US

    GE Energy Financial Services Invests Approximately $31 million in Proven and Operational Oil Reserves in East Texas

    TEXAS, US, Jan 1, 2012 — GE Energy Financial Services committed approximately $31 million for an interest in the Talco Field, Titus and Franklin counties through a limited partnership with Dallas–based independent oil and gas company Burnett Petroleum Co. With this and other transactions, GE Energy Financial Services has invested more in oil and gas partnerships in Texas than in any other state.

    Read Full Press Release
    • $31 million

      investment in East Texas oil reserves

    Close
    2011
    LP
    Gulf LNG
    Oil & Gas
    N/A
    Mississippi, US

    Lightfoot Capital Partners, LP Teams Up with GE to Own Liquefied Natural Gas Assets in Pascagoula, Mississippi

    PASCAGOULA, MISS., Oct 4, 2011 — Lightfoot Capital Partners, LP is pleased to announce that it has teamed up with GE Energy Financial Services, a unit of GE (NYSE: GE), to make a strategic investment in the liquefied natural gas market. Lightfoot Capital will make a direct investment and own a 48 percent interest in Arc LNG Holdings LLC, which will own a 20 percent interest in Gulf LNG Energy's terminal in Pascagoula, Mississippi. GE Energy Financial Services, directly and indirectly, controls its 50 percent stake in Gulf LNG while a subsidiary of El Paso Corporation controls the other 50 percent and is the operator. In a related transaction, GE Energy Financial Services acquired a general partnership interest and a 58 percent limited partnership interest in Lightfoot Capital from certain of its existing...

    Read Full Press Release

    Lightfoot Capital Partners, LP Teams Up with GE to Own Liquefied Natural Gas Assets in Pascagoula, Mississippi

    • 3.6 million barrel

      Storage Capacity

    • 0.5

      Stake in Gulf LNG

    Close
    2011
    LP
    PRE Resources, Inc.
    Oil & Gas
    N/A
    Wyoming and Colorado, US

    PRE Resources, GE Unit, Partner to Buy Rocky Mountain Oil & Gas Reserves

    WYO. AND COLO., Oct 13, 2011 — Expanding their Rocky Mountain oil and gas reserves footprint, PRE Resources, Inc. is teaming up with GE Energy Financial Services, a unit of GE (NYSE: GE), to buy more than 100 producing wells and undeveloped acreage across 29 fields in Wyoming and Colorado. GE Energy Financial Services provided $46 million and committed to additional capital expenditures to form a partnership with Denver–based PRE Resources to buy the fields spread across Weston, Campbell, Crook, Niobrara and Hot Springs counties, WY, as well as Moffat County, CO. The seller was undisclosed. PRE Resources is investing $5 million in the acquisition and will serve as general partner and operator, with GE Energy Financial Services serving as limited partner. The fields feature primarily long–lived oil...

    Read Full Press Release
    • Expands

      Rocky Mountain oil and gas reserves footprint

    • 100+

      producing wells

    Close
    2010
    LP
    Marlin Permian, L.P.
    Oil & Gas
    N/A
    Texas, US

    GE Unit Partners with Independent E&P Companies to Acquire West Texas and Rocky Mountain Oil & Gas Reserves for $200 Million

    WEST TEXAS, Feb 10, 2010 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that it has formed partnerships to acquire West Texas natural gas and North Dakota oil and gas reserves for a total of $200 million.In the first transaction, GE Energy Financial Services formed a partnership with independent oil and gas company Marlin Energy LLC. Their new alliance, Marlin Permian, LP, acquired natural gas reserves in West Texas from an undisclosed seller for $65 million. GE Energy Financial Services will serve as limited partner. Marlin Energy, based in Lafayette, LA, will serve as both general partner of the partnership and operator of the assets.In the second transaction, GE Energy Financial Services has formed a partnership with Sequel Energy, LLC to acquire oil and gas reserves in the Williston...

    Read Full Press Release
    "GE Energy Financial Services' oil and gas partnership structure will help both Marlin and Sequel realize maximum potential from their respective acquisitions."
    — John Schaeffer Managing Director and head of the oil and gas unit at GE Energy Financial Services
    • $200 million

      investment in West Texas natural gas reserves

    Close
    2009
    LP
    Regency Energy Partners L.P.
    Oil & Gas
    N/A
    Texas, US

    First Solar Sells Canadian Power Plants to GE Energy Financial Services-Alterra Partnership

    BELMONT, ONTARIO AND TEMPE, ARIZ., Aug 26, 2013 — First Solar, Inc. (Nasdaq: FSLR) announced today that it has sold a collection of solar projects in Ontario, Canada, totaling 50 megawatts (MW) AC to an investment partnership led by GE (NYSE: GE) unit GE Energy Financial Services. Terms were not disclosed. It is the first project transaction between First Solar and GE since their solar technology and commercial partnership was announced Aug. 6. The ABW Partnership, originally announced in 2011, consists of majority owner GE Energy Financial Services and Alterra Power Corporation, which made an equity contribution and will serve as the projects' managing partner. The ABW Partnership raised debt for the acquisition, with The Manufacturers Life Insurance Company serving as agent and lead arranger. The debt syndicate consists of The...

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    • Three

      Canadian Solar Power Projects

    • 50 megawatts AC

      of Solar Power

    Close
    2008
    LP
    Union Gas Production Partners, L.P.
    Oil & Gas
    N/A
    Texas, US

    GE Unit and Union Gas Invest $115 Million to Acquire East Texas and Gulf Coast Oil & Gas Reserves, Plan $29 Million More in Field Development

    EAST TEXAS AND THE TEXAS GULF COAST, Apr 1, 2008 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today it has formed a partnership with a Union Gas Corporation subsidiary and related investors to acquire oil and gas reserves from two fields in East Texas and the Texas Gulf Coast for $115 million. GE Energy Financial Services is investing $104 million as the 90 percent limited partner. Union Gas is investing the balance as the 10 percent general partner and operator. The new alliance, Union Gas Production Partners, L.P., plans to invest an additional $29 million to develop and produce proved reserves over the next two years.Additional financial and operational details of the transaction were not disclosed."Our new partnership combines the Union Gas team's exploration and operating experience with the...

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    "Allying with a strong institutional partner allows us to accelerate the development of our reserves to grow our production and cash flow at reasonable costs."
    — Randy Lowry President of Union Gas
    • $115 million

      oil and gas reserves investment

    • $29 million

      expected investment to develop and produce proved reserves

    Close
    2008
    LP
    OKLA Energy Partners, L.P.
    Oil & Gas
    N/A
    Oklahoma, US

    GE Unit and GeoResources Investing Up to $91 Million in Oklahoma Oil & Gas Reserves

    OKLA., Jun 2, 2008 — Partnering for a third time, GE Energy Financial Services, a unit of GE (NYSE: GE), and GeoResources, Inc. (NASDAQ: GEOI), a Houston–based exploration and production company, are investing up to $90.5 million to acquire and develop proven producing oil and gas reserves in Oklahoma.GE Energy Financial Services and GeoResources formed a new partnership, OKLA Energy Partners, LP, to acquire 82 percent of the assets from a group of private sellers. A wholly owned subsidiary of GeoResources will purchase the remaining 18 percent. The two entities entered into a purchase and sale agreement with the sellers to acquire the reserves for $60.5 million and expect to invest up to $30 million to develop additional proven reserves. The GE unit is investing 98 percent as limited partner in...

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    "The Oklahoma properties bring long–lived gas reserves and a large drilling inventory to our portfolio, establishing a significant footprint in Oklahoma for future expansion."
    — Frank A. Lodzinski Chief Executive Officer of GeoResource
    • 82%

      stake in oil and gas reserves

    • $30 million

      expected investment to develop additional proven reserves

    Close
    2008
    LP
    TriTex Energy A, L.P.
    Oil & Gas
    N/A
    New Mexico, US

    In Fifth New Oil & Gas Investment This Year, GE Unit & Tritex Provide Up To $45 Million to Acquire, Develop Oil & Gas Reserves in New Mexico

    SOUTHEASTERN N.M., Nov 4, 2008 — GE Energy Financial Services, a unit of GE (NYSE: GE), announced today it has formed a partnership with TriTex Energy, LLC to acquire proved oil and gas reserves in southeastern New Mexico for $31 million. GE Energy Financial Services has invested more than $360 million in proved oil and gas reserves in five transactions this year, an annual record for the business.GE Energy Financial Services is investing $30 million as the 98 percent limited partner. TriTex Energy, LLC is investing the balance as the 2 percent general partner and operator. The new alliance, TriTex Energy A, LP, plans to invest an additional $14 million to develop and produce proved reserves over the next two years. Additional financial and operational details of the transaction were not disclosed.{{quote}}"This...

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    "GE was able to close this transaction in one of the most difficult banking and commodities markets imaginable. Their financial and technical strengths make them a great partner."
    — Don Ritter President of TriTex Energy, LLC
    • $31 million

      invesment in oil and gas reserves

    • $14 million

      expected investment for development and production

    Close
    2007
    LP
    Bays Exploration Inc.
    Oil & Gas
    N/A
    Oklahoma, US

    GE Unit Invests $154 Million with Exploration Companies to Acquire Oil & Gas Reserves in Oklahoma and Texas, Invest in Field Development

    OKLA. AND TEXAS, May 8, 2007 — GE Energy Financial Services announced today it has partnered with two experienced operators to acquire $154 million in oil and gas reserves in Oklahoma and Texas.With Bays Exploration Inc., the GE unit acquired oil and gas reserves with significant development opportunities in western Oklahoma for $79 million. In addition, Energy Financial Services plans to invest up to $60 million for the development of the reserves. In the second transaction, GE Energy Financial Services partnered with Southern Bay Energy, a subsidiary of GeoResources, Inc. (NASDAQ: GEOID) to acquire oil and gas properties in the Austin Chalk trend of East Texas for $75 million. GE Energy Financial Services plans to invest an additional $27 million for the development of these properties.Additional financial...

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    • $60 million

      investment for development of O&G reserves

    Close
    2006
    LP
    West Coast Energy Properties, L.P.
    Oil & Gas
    N/A
    California and Texas, US

    Clayton Williams Energy, GE Energy Financial Services Acquire California and Texas Oil & Gas Properties

    CALIF. AND TEXAS, Aug 14, 2006 — Clayton Williams Energy, Inc. (NASDAQ–NMS:CWEI) and GE Energy Financial Services announced today that an affiliated partnership, West Coast Energy Properties, L.P., has acquired certain producing oil and gas assets in California and Texas for $58 million.Clayton Williams Energy has attributed estimated proved reserves totaling 4.9 million barrels of oil and natural gas liquids and 3.7 Bcf of natural gas to the acquired properties. More than 60% of these estimated proved reserves are classified as proved developed producing reserves. Approximately 75% of the purchase price relates to properties in th ree fields in southern California, and the remaining 25% relates primarily to properties located in Mitchell County, Texas.West Coast Energy Properties, L.P. is a Texas limited...

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    • $58 million

      investment in O&G reserve assets

    • 4.9 million

      barrels of oil and natural gas liquids

    Close
    2006
    LP
    Sunland Production Partners, L.P.
    Oil & Gas
    N/A
    Louisiana, North America

    GE Energy Financial Services Partners with Sunland Resources to Acquire and Develop Louisiana Gas and Oil Fields

    LOUISIANA, Oct 26, 2006 — GE Energy Financial Services and Sunland Resources, LLC announced today the acquisition of natural gas and oil reserves in northern Louisiana for $101 million. The properties were acquired from a consortium led by Caruthers Producing Co., Inc. and include 26 producing wells, two proved, developed nonproducing wells, and 11 low risk, proved, undeveloped drilling locations in the Caspiana and Black Creek fields.GE Energy Financial Services holds a majority limited partnership interest in Sunland Production Partners, L.P., the partnership formed with Sunland Resources, LLC for the reserve acquisition, and will share in capital expenditures to develop the reserves. Sunland Resources, LLC is the General Partner and Sunland Production Company, Inc. is the operator of the fields. Reserve...

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    • $101 million

      investment in natural gas and oil reserves

    • 26 producing well

      and two proved, developed non–producing wells,

    Close
    2005
    LP
    Crucero-El Abra Transmission Line
    Power
    T&D
    Santiago, Chile

    GE Energy Financial Services, Growing Internationally, Forms Power Transmission Line Partnership with Abengoa in Chile

    SANTIAGO, CHILE, Nov 29, 2005 — Growing in international markets with strong investment frameworks, GE Energy Financial Services announced today that it has formed a partnership with Abengoa –– the leading Spanish engineering, bioenergy, environmental services and IT group –– to own power transmission lines in Chile.GE Energy Financial Services will acquire an 80 percent equity interest in the partnership for $24.4 million. Abengoa will hold the remaining 20 percent. The partnership will own three 220kV transmission lines, built and previously owned by Abengoa, spanning 295 kilometers (183 miles) in Chile. Abengoa will continue as lead manager of the three transmission line companies: the Crucero–El Abra line, with a capacity of 150MW, feeding power from the main northern grid to...

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    GE Energy Financial Services, Growing Internationally, Forms Power Transmission Line Partnership with Abengoa in Chile

    • 3

      Chilean power transmission lines

    • 0.8

      equity interest

    Close
    2005
    LP
    Crockett Cogeneration
    Power
    Gas
    California, US

    Energy Investors Funds Sells 24 Percent Stake in Crockett Cogeneration Project

    CROCKETT, CALIF., Oct 10, 2005 — Energy Investors Funds, an established private equity fund manager that invests in the energy and electric power sector, today announced that its Energy Investors Fund, L.P. and its Energy Investors Fund II, L.P. closed on the sale of their combined 24.3 percent limited partnership interests in Crockett Cogeneration (Crockett) to GE Energy Financial Services, which increased its ownership interest to approximately 53 percent. Other financial terms of the transaction were not disclosed.In operation since 1996, Crockett is a 240–megawatt natural gas fired cogeneration plant located in Crockett, California, outside San Francisco. The project has a long–term power purchase agreement with Pacific Gas and Electric Company and a thermal sales agreement with C&H Sugar Company, both...

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    Energy Investors Funds Sells 24 Percent Stake in Crockett Cogeneration Project

    • 240 megawatt

      Crockett gas–fired cogeneration plant

    • 53 percent

      Ownership Interest

    Close
    2005
    LP
    Locin Oil Corporation
    Oil & Gas
    N/A
    Pennsylvania and Ohio, US

    GE Commercial Energy Financial Services, Strategically Expanding Reserve Base, Partners with Locin Oil Corporporation to Acquire and Develop Appalachian Gas Fields

    PA. AND OHIO, Jun 2, 2005 — GE Commercial Finance Energy Financial Services and Locin Oil Corporation announced today the acquisition of 96 billion cubic feet (Bcf) of net proved gas reserves for approximately $147 million. The properties were acquired from Equitable Production Company and include approximately 1,200 wells in Pennsylvania and Ohio. In addition, a total of over 220 proven and probable, low risk, undeveloped drilling locations have been identified in the fields.Energy Financial Services holds a 95 percent limited partnership interest in NCL Appalachian Partners LP and will share in capital expenditures to develop the reserves. The principals of Locin Oil formed NCL Appalachia LLC to be the five percent General Partner and operator of the fields, which include 69 Bcf of net proved producing gas...

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    • 96 billion

      cubic feet of gas reserves

    • 1,200 wells

      and 220 proven and probable, low risk, undeveloped drilling locations

    Close
    2005
    LP
    F-W Oil Exploration L.L.C.
    Oil & Gas
    N/A
    Gulf of Mexico, US

    First Offshore Gas Reserves and Pipeline Construction Investments by GE's Energy Financial Services Unit, In Partnership with F-W Oil Exploration

    GULF OF MEXICO AND SOUTH PADRE ISLAND, TEXAS, Aug 22, 2005 — GE Commercial Finance Energy Financial Services announced today it has invested, for the first time offshore, $70 million in a limited partnership with F–W Oil Exploration L.L.C. to acquire and produce natural gas and associated liquid hydrocarbons in the Gulf of Mexico. Energy Financial Services will also finance the completion of a 48–mile pipeline system to transport gas from F–W's gas fields in the South Padre Island area.Located 12 miles offshore Texas, these South Padre Island fields represent the most significant asset within the partnership. The fields, owned 100% by the partnership, are shut–in pending completion of the pipeline installation scheduled in the fourth quarter of this year. This pipeline will transport more than 30 million cubic feet...

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    • 48–mile

      pipeline system

    • 30 million

      cubic feet equivalent of gas transport per day

    Close
    2003
    LP
    Mirant
    Power
    N/A
    Virginia, US

    Mirant Reaches Agreement to Sell Birchwood Virginia Assets

    ATLANTA, GA, May 20, 2003 — Mirant (NYSE: MIR) today announced that it signed an agreement to sell all but one half of one percent of its 50 percent interest in the coal–fired Birchwood power plant and related facilities to the Global Energy unit of GE Structured Finance (GESF) for a gross sales price of approximately $71 million. The estimated after–tax book gain to Mirant is $41 million. Cogentrix Energy, Inc. will continue to own the remaining 50 percent of the Birchwood power plant located near Fredricksburg, Va.Following the close of this transaction, Mirant will no longer post a $19 million letter of credit associated with its interest in the power plant. The non–recourse project debt associated with the plant will remain in place."Mirant continues to sell non–strategic assets...

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    • 242 mw

      facility supplying power to Virginia Electric Power Company

    • $71 million

      approximate gross sales price

    Close
  • Lease Projects

    (Click below to expand)

    Year
    Product
    Company Name
    Sector
    Technology
    Location
    2011
    Lease
    Alta Wind I
    Renewable
    Wind
    California, US

    GE Unit, UnionBancal Unit, Buy California Wind Farm First Purchase of Largest US Wind Energy Projects Starting Operations

    TEHACHAPI, CALIF., Jan 10, 2011 — GE Energy Financial Services, a unit of GE (NYSE: GE), and Bankers Commercial Corporation, a unit of UnionBanCal Corporation, announced today that they have purchased the first wind farm to start operations in one of the largest wind energy projects in the United States.GE Energy Financial Services and Bankers Commercial Corporation acquired the 150– megawatt Alta Wind I wind farm in Tehachapi, in Kern County, California, and are leasing it back to its developer, operator and manager, Terra–Gen Power, LLC. The wind farm, using 100 GE 1.5–megawatt SLE turbines, was completed in the fourth quarter of last year. GE Energy Financial Services –– a major global investor in multiple energy generation and distribution projects and companies – and Bankers...

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    GE Unit, UnionBancal Unit, Buy California Wind Farm First Purchase of Largest US Wind Energy Projects Starting Operations

    • 0.5

      Stake

    • 100

      GE 1.5–megawatt SLE turbines

    Close
    2010
    Lease
    King City Cogeneration Power Plant
    Power
    Gas
    California, US

    GE'S Energy Investing Unit Expands Power Portfolio, Buys Efficient Natural Gas-Fired California Power Plant, Leases It to Calpine

    KING CITY, CALIF., May 20, 2010 — GE Energy Financial Services –– a unit of GE (NYSE: GE) –– announced today it is expanding its 26–gigawatt power portfolio by buying the King City cogeneration power plant in California's Salinas Valley for $68 million. Calpine Corporation (NYSE: CPN), based in San Jose, has leased, operated and maintained the plant since 1996 and will continue to do so under GE's ownership. The King City plant, 75 miles southeast of Monterey, is an efficient 120–megawatt natural gas–fired cogeneration facility using a GE 7EA gas turbine that entered commercial operation in 1989. The plant sells its electricity to Pacific Gas & Electric Company under a contract until 2019, and supplies steam to a nearby vegetable processing facility. GE Energy...

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    GE'S Energy Investing Unit Expands Power Portfolio, Buys Efficient Natural Gas-Fired California Power Plant, Leases It to Calpine

    "Our acquisition of the King City Cogeneration Plant underscores our strategy of growing our power portfolio across a wide range of generation technologies and fuel sources, participating in the industry using a wide range of capital products and structures, and deepening our relationships with key customers and partners such as Calpine."
    — Alex Urquhart President and CEO of GE Energy Financial Services
    • 120 megawatt

      natural gas–fired cogeneration plant

    • $47 million

      loan since 2003

    Close
    2006
    Lease
    Fox Energy Center
    Power
    Gas
    Wisconsin, US

    Calpine Sells Its Entire Leasehold Interest in the Fox Energy Center to GE Energy Financial Services

    KAUKAUNA, WIS., Oct 11, 2006 — Calpine Corporation [OTC Pink Sheets: CPNLQ] announced today that one of its non–debtor subsidiaries has completed the sale of its entire leasehold interest in the 560–megawatt Fox Energy Center, located in Kaukauna, Wis., to affiliates of GE Energy Financial Services, the plant's owner/lessor. With this sale, Calpine continues to advance its Chapter 11 restructuring program to strengthen its business – financially and operationally – and to position the company for future growth.The Fox Energy Center is a natural gas–fired, combined–cycle facility that supplies electricity to Wisconsin Public Service Corporation under a ten–year power sales agreement. In consideration of the sale, Calpine receives a cash payment from GE Energy Financial...

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    Calpine Sells Its Entire Leasehold Interest in the Fox Energy Center to GE Energy Financial Services

    • 560 megawatt

      gas–fired facility

    • Utilizes GE's 7FB

      combustion turbines to maximize fuel efficiency

    Close
    2006
    Lease
    Springerville Generating Station
    Power
    Coal
    Arizona, US

    Tri-State's new 418-MW unit at TEP's Springerville Generating Station begins producing commercial power

    SPRINGERVILLE, ARIZ., Jul 1, 2006 — A third unit at Springerville Generating Station (SGS) began commercial operation July 28, expanding the resources available to meet rising power demands across the West. The project was developed by Tri–State Generation and Transmission Association in conjunction with Tucson Electric Power (TEP), the owner and operator of SGS Units 1 and 2.Although finishing work and testing will continue on the generator, the unit's 418 megawatts of power has been certified for commercial use in a region where searing summer heat has produced new records in energy usage.J.M. Shafer, Tri–State Executive Vice President and General Manager, said, "The demand for electricity continues to grow throughout our membership and our investment in this new resource helps strengthen our...

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    Tri-State's new 418-MW unit at TEP's Springerville Generating Station begins producing commercial power

    • $179 million

      lease equity

    • 418 megawatt

      Springerville Generating Station

    Close
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