GE Energy Financial Services renewable energy investments surpass $15 billion mark

Published on May 26, 2017 by Daily Energy Insider Reports

GE Energy Financial Services announced this week at the American Wind Energy Association’s (AWEA) WINDPOWER 2017 conference that its investments in renewable energy worldwide have exceeded $15 billion.

Renewables is GE Energy Financial Services’ fastest growing business segment, and renewable energy investments continue to outpace fossil fuel investment two to one. The $15 billion in investments translates to approximately 16 gigawatts and over one million metric tons of greenhouse gases avoided.

Over the past three years, the company has surpassed its 2014 commitment to invest $1 billion in
renewables each year by investing $5 billion in solar, wind and other renewable energy projects over the
last three years.

“Renewable energy has a vibrant future with demand increasing across the world, and it creates jobs and addresses global environmental challenges,” David Nason, president and CEO of GE Energy Financial Services, said. “With GE at the forefront of technology and digital advancements, we continue to invest in this attractive asset class.”

The company currently has investment commitments in 17 countries. Of those commitments, 75 percent are wind, 18 percent are solar and seven percent are other renewable technologies. They include two recent offshore wind investments – the U.S. Block Island Wind Farm and Merkur Offshore Germany.

“Wind power is a winning investment for Americans in all 50 states,” AWEA CEO Tom Kiernan said. “With companies like GE at the forefront, wind increasingly powers our economy, creating good-paying jobs and supplying low-cost electricity for millions of American homes and businesses. And wind power’s technology continues to advance in the digital age – bigger, better and more reliable than ever.”