PRZOOM - /newswire/ -
Schenectady, NY, United States, 2015/06/16 - GE’s renewable energy business today announced a $25 million investment in TerraForm Global, LLC - GE.com. NYSE: GE
• $25 Million Investment Marks GE as First Wind Manufacturer Included in Sunedison’s ‘Yieldco’ IPO Financing;
• Agreement Will Enhance International GE Wind Volume and Expand Fleet Services.
TaForm Global is a dividend growth-oriented company, or 'yieldco, ’ formed by SunEdison to own and operate contracted renewable power generation assets in attractive, high-growth emerging markets.
“This investment is about driving continued global growth for renewable power,” said Anne McEntee, president & CEO of GE’s renewable energy business. “Together with SunEdison, we will significantly increase wind developments in key growth regions like Latin America, Europe, India and China.”
The agreement is expected to help support new wind pipeline opportunities for TerraForm Global, and GE also will provide life cycle operations and maintenance support for TerraForm’s international wind fleet. The two companies also have agreed to continue exploring additional opportunities for growth-oriented collaboration.
GE (ge.com) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world.
About GE Power & Water
GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar, biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world’s most complex challenges related to water availability and quality. Power & Water’s six business units include Distributed Power, Nuclear Energy, Power Generation Products, Power Generation Services, Renewable Energy and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE’s largest industrial business.
Contact: Shaun Wiggins - GE Power & Water
P: +1 518-385-5992 - E: shaun.wiggins[.]ge.com