Wind Large Part of GE’s $6 Bil in Renewable Energy

John Davis

The vast majority of the $6 billion GE Energy Financial Services has put into its renewable energy efforts has gone into wind energy development.

The Wall Street Journal reports
that most of the $6 billion has been invested in the past six years:

For GE, about 80% of the capital went to providing equity and debt for wind projects. As of mid-October, for example, it had an equity stake in about 6,000 megawatts of wind projects. That represented about 16% of the total wind power capacity installed in the U.S. GE also held debt in about 1,300 megawatts of wind projects.

GE is one of the sponsors behind the 845-megawatt Caithness Shepherds Flat wind project proposed in Oregon, one of the world’s largest wind farms.

In many cases, the wind projects that GE Energy Financial Services backs are also buying GE turbines. GE is supplying $1.4 billion of turbines, for example, to the Shepherds Flats project.

The article goes on to say that GE had also invested about $1 billion invested in solar, hydro and biofuels, mostly in the U.S.