G.E. Reaches it Renewable Energy Target for 2010 as Part of $6 Billion Investment Strategy

GE Energy Financial Services, has announced that it reached its multi-year target of building a $6 billion portfolio of renewable energy investments by the end of 2010, inspired by GE’s ecomagination initiative.

GE Energy Financial Services – a major global investor in multiple energy generation and distribution projects and companies – said at the ACORE Phase II conference in Washington, DC, that renewable energy now comprises nearly 30 percent of its overall portfolio, up from about 6 percent in 2006. In 2009 and 2010 to date, the business unit invested or committed to invest more than $1.5 billion in wind farms, closed transactions in geothermal and hydroelectric power generation, and made venture capital investments in smart grid and renewable energy companies.

G.E. Reaches it Renewable Energy Target for 2010 as Part of $6 Billion Investment Strategy | Solar Thermal Magazine