GE Aquires Majority Stake in PrimeStar

GE Energy announced that it has increased its equity share to a majority interest in PrimeStar Solar, Inc., a solar thin-film technology and manufacturing company. GE already held a minority equity share of PrimeStar Solar. Solar is playing an increasing role in GE Energy’s renewable energy portfolio and is expected to grow even more as energy costs continue to rise, according to the company.

“Increasing our stake in PrimeStar Solar to a majority interest underscores our continuing commitment to solar energy. GE Energy believes that renewable resources, including wind and solar, will play an ever increasing role in the future of the global energy industry,” said Victor Abate, Vice President of Renewables for GE Energy.

PrimeStar Solar was formed in June 2006 to develop and commercialize thin-film photovoltaic modules. The company has 60 employees, including a core management team with more than 100 years of combined thin-film equipment and process experience.

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