GE Boosts 2010 Investing Target

Reinforcing GE’s ecomagination program, GE Energy Financial Services announced 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 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 subsidiary of EDP – Energias de Portugal SA. GE Energy Financial Services’ goal of investing $6 billion in renewable energy by 2010 is a major acceleration of a previously announced target of $4 billion.

“With our broad capabilities to invest equity and debt within and outside the United States, not only in wind but in solar, biomass, hydro and geothermal power, we have become a major player in a $60 billion annual renewable energy market,” said Alex Urquhart, President and CEO of GE Energy Financial Services. 

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