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  • GE EFS and Canadian Solar Subsidiary Recurrent Energy Closes Financing for 75-Megawatt Astoria 2 Solar Power Project
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  • Pilot Hill Wind Project Closes Financing From GE Energy Financial Services and MetLife
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GE Energy Financial Services has developed a long track record of investing in renewable energy, with a focus on wind and solar power generation. As Renewable Energy grows, GE Energy Financial Services will continue to add to its established $12 billion portfolio.

  • ~$12 billion IN CUMULATIVE GLOBAL RENEWABLE ENERGY COMMITMENTS
  • ~$9 billion in Wind commitments
  • ~$3 billion in Solar commitments
  • Renewable Energy Projects

    (Click below to expand)

    Year
    Product
    Project
    Technology
    Megawatts
    Location
    2016
    Equity
    Trina Solar
    Solar
    14 MW
    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
    2016
    Equity
    Astoria 2
    Solar
    75 MW
    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
    2015
    Equity
    Pilot Hill Wind
    Wind
    175 MW
    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
    2015
    Equity
    Kanagi Solar Project
    Solar
    13.6 MW
    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
    Ararat Wind
    Wind
    240 MW
    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
    Briscoe
    Wind
    150 MW
    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
    Balko
    Wind
    300 MW
    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
    Langhope Rig Wind Farm
    Wind
    16 MW
    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
    Hosoe Solar Plant
    Solar
    96.2 MW
    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
    Futtsu Solar Project
    Solar
    42 MW
    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
    EGPNA Renewable Energy Partners
    Wind
    760 MW
    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
    2014
    Equity
    Stephens Ranch Wind Project
    Wind
    211 MW
    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
    2014
    Equity
    Acres and Barranafaddock
    Wind
    51 MW
    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
    Welspun
    Solar
    151 MW
    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
    Kumenan
    Solar
    32 MW
    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
    Spinning Spur II
    Wind
    161 MW
    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
    Grandview Phase I
    Wind
    211 MW
    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
    Atria Power
    Wind
    126 MW
    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
    Setouchi City Mega Project
    Solar
    231 MW
    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
    2013
    Equity
    French Wind Portfolio
    Wind
    321.4 MW
    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
    2014
    Financing
    Mimasaka Musashi
    Solar
    42 MW
    Okayama, Japan

    GE Energy Financial Services and Pacifico Energy to Construct Second Joint Solar Project in Japan

    OKAYAMA, JAPAN, Dec 10, 2014 — GE unit (NYSE: GE) GE Energy Financial Services is continuing its expansion into the Japanese renewable energy power market, completing its second solar project financing transaction with Pacifico Energy, a Tokyo–based utility–scale solar project developer and subsidiary of Virginia Solar Group. GE Energy Financial Services invested alongside Virginia Solar Group in Mimasaka Musashi, a 42–megawatt (DC) photovoltaic solar power project under construction in the prefecture of Okayama. Financing for the project was completed on a non– recourse project finance basis and was supported by a JPY ¥13 billion credit facility from the Bank of Tokyo–Mitsubishi UFJ and Chugoku Bank. Additional financial details were not disclosed. Located on the site of a...

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    GE Energy Financial Services and Pacifico Energy to Construct Second Joint Solar Project in Japan

    "We are committed to building a long-term relationship with Pacifico Energy and helping Japan meet its renewable energy targets"
    — Sushil Verma Managing Director and Japan Business leader at GE Energy Financial Services
    • 42-MW

      solar PV plant

    Close
    2013
    Equity
    Catalina Solar
    Solar
    143 MW
    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
    Invenergy Goldthwaite
    Wind
    148.6 MW
    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.

    Read Full Press Release

    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
    Panhandle Wind
    Wind
    218 MW
    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
    ABW Solar Portfolio
    Solar
    50 MW
    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
    2011
    Equity
    Gratiot County Wind Project
    Wind
    110.4 MW
    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
    2007
    Equity
    Allegheny Ridge II
    Wind
    70 MW
    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
    Noble Clinton Windpark
    Wind
    100.5 MW
    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
    Scholl Canyon Landfill
    Biomass
    N/A
    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
    Champion Wind Farm
    Wind
    126.5 MW
    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
    Stanton Wind Energy L.L.C.
    Wind
    120 MW
    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
    2008
    Equity
    Toyota Motor Sales
    Solar
    2.3 MW
    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
    2008
    Equity
    Snyder Wind
    Wind
    63 MW
    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
    Elkhorn Valley
    Wind
    101 MW
    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
    Hackberry
    Wind
    166 MW
    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
    Forward Energy
    Wind
    129 MW
    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
    McAdoo
    Wind
    150 MW
    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
    The Noble Chateaugay Windpark
    Wind
    106.5 MW
    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
    Tatanka Wind Farm
    Wind
    180 MW
    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
    2009
    Equity
    Shepherds Flat
    Wind
    845 MW
    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
    2009
    Equity
    Rattlesnake Road
    Wind
    103 MW
    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
    Blue Canyon V
    Wind
    99 MW
    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
    Dokie Wind Project
    Wind
    300 MW
    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
    2010
    Equity
    CPV Keenan II
    Wind
    152 MW
    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
    2011
    Lease
    Alta Wind I
    Wind
    150 MW
    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
    2011
    Equity
    Greenough River Solar Farm
    Solar
    10 MW
    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
    Desert Sunlight Solar Farm
    Solar
    550 MW
    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
    Greenko Wind Project
    Wind
    500 MW
    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
    Su Scioffu
    Solar
    20 MW
    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

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    2012
    Equity
    Capricorn Ridge
    Wind
    662.5 MW
    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
    Arlington Valley Solar Energy II
    Solar
    127 MW
    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
    Chisholm View
    Wind
    235 MW
    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
    Prairie Rose
    Wind
    200 MW
    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
    Post Rock
    Wind
    201 MW
    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
    2013
    Equity
    Colorado Highlands
    Wind
    91 MW
    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
    Prairie Breeze Wind Energy Center
    Wind
    200 MW
    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
    2006
    Financing
    Pakini Nui Wind Project
    Wind
    21 MW
    Hawaii, US

    World-Class Hawaiian Wind Farm, Southern Most in the US, Financed by GE Energy Financial Services

    SOUTH POINT, HAWAII, Sep 13, 2006 — GE Energy Financial Services announced today that it is financing the construction and operation by Tawhiri Power LLC of the southern–most wind farm in the United States. Powered by strong prevailing trade winds, the 21–megawatt Pakini Nui Wind Project is at South Point, one of the world's windiest habitable locations, on the island of Hawaii (the "Big Island").GE Energy Financial Services is providing debt and equity financing during the project's development, construction and operation. Additional financial details were not disclosed.The wind farm will annually produce electrical energy estimated to be sufficient for more than 10,000 homes and to reduce greenhouse gas emissions by more than 22,000 tons per year, compared with equivalent fossil fuel...

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    • 21 megawatt

      Hawaiian wind farm

    • 14

      1.5 megawatt wind turbines

    Close
    2007
    Financing
    East Toba River/Montrose Creek Run-of-River Hydroelectric Generating Facilities
    Hydro
    196 MW
    British Columbia, Canada

    Plutonic and GE Close $470 Million Credit Facility; Financing of 196 MW Run-of-River Hydroelectric Project Completed

    VANCOUVER, BRITISH COLUMBIA, Nov 8, 2007 — Plutonic Power Corporation (Plutonic) (PCC–TSX) and a Canadian affiliate of GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that a $470 million senior secured credit facility for the Toba Montrose General Partnership has been closed with a syndicate of financial institutions. This complements the $190 million in equity and other financial instruments that closed last week and completes funding for construction of the 196–megawatt East Toba River/Montrose Creek run–of–river hydroelectric generating facilities, 190 kilometers northwest of Vancouver at the headwaters of the Toba Inlet north of Powell River.The project's credit facilities were co–arranged by The Manufacturers Life Insurance Company (Manulife) (TSX, NYSE: MFC) and GE...

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    Plutonic and GE Close $470 Million Credit Facility; Financing of 196 MW Run-of-River Hydroelectric Project Completed

    • 0.6

      economic interest

    • 49–percent

      equity interest

    Close
    2008
    Financing
    Fotowatio
    Solar
    N/A
    Madrid, Spain

    Sparking European and US Solar Power Expansions, GE and Grupo Corprativo Landon to Invest US $350 Million in Leading European Solar Company

    MADRID, SPAIN, Jul 31, 2008 — GE Energy Financial Services, a unit of GE (NYSE: GE), and Grupo Corporativo Landon announced today they will invest about US $350 million (€225 million) in Fotowatio, one of Spain's largest and most successful solar power project developers. Fotowatio owns, operates and is developing almost 960 megawatts of solar projects in the fast–growing solar power markets of Spain, Italy and the United States. Existing investors in Fotowatio comprise investment fund Qualitas Venture Capital and Fotowatio's management. {{quote}} "GE has all the right ingredients to succeed in solar: capital, technology, research and ecomagination." Ecomagination is GE's program to help its customers meet their environmental challenges while expanding the company's own...

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    Sparking European and US Solar Power Expansions, GE and Grupo Corprativo Landon to Invest US $350 Million in Leading European Solar Company

    "By facilitating the growth of one of the solar industry's leading developers, this investment gives us immediate access to attractive solar markets in Europe and the United States and will form an important part of GE's broader strategy to become a major player in solar power."
    — Alex Urquhart President and CEO of GE Energy Financial Services
    • $235 million

      Investment in equity and convertible debt

    • 0.32

      stake in Fotowatio

    Close
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