GE ponies up for renewable energy
GE Energy Financial Services raised its 2010 target for renewable energy investing to $6 billion.
GE Energy Financial Services raised its 2010 target for renewable energy investing to $6 billion. The previous planned investment was $4 billion, but the goal was raised due to increasing costs of fossil fuels, support of environmental protection, and improved technology for boosting interest in wind, solar, biomass, hydro, and geothermal power.
GE recently surpassed the $3 billion mark by receiving a $300 million investment in four wind farms owned by Horizon Wind Energy, Houston. The most active investment in renewable energy for GE Energy Financial Services is wind, representing about two-thirds of its portfolio. The wind farms are located in Oregon, Minnesota, Illinois, and Texas.
The power generated by the wind farms will provide enough power for 180,200 average homes, which will prevent 1.4 million tons of greenhouse gas emissions per year. The investment represents GE’s highest-value wind deal and total number of wind farms, which GE committed to, up to 85. During 2007, GE finalized more than $2 billion in renewable energy deals and GE expects renewable energy commitments to take up 205 to 25% of its portfolio by 2010.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey