GE Renewables Unit Gets A Favorable Wind

New York [The New York Times] When President George W. Bush called last month for more effort in alternative energies, the 300 engineers and financiers at GE Energy Financial Services, a business that last year attracted about $7 billion in investment in the United States, were cheering. For now, wind energy is the only profit star in General Electric’s alternative energy galaxy, and both the finance and equipment sides of the company know they are gambling when it comes to solar and other fledgling technologies. Still, analysts applaud their decision to move. … But the GE machine is gearing up for change. In five years, GE expects that alternative energy products will account for more than a quarter of its energy equipment revenue.
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