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Wind power to reach 47 gigawatts in 2014 – G.W.E.C.

Wind power to reach 47 gigawatts in 2014 – G.W.E.C.

The wind market is expected to reach installations of at least 47 gigawatts in 2...

Floating tidal current turbines to be installed in Canadian waters

Floating tidal current turbines to be installed in Canadian waters

Siemens business Marine Current Turbines Ltd., Bluewater Energy Services B.V., a...

Smog causes partial car ban in Paris – But is the Diesel Industry to blame?

Smog causes partial car ban in Paris – But is the Diesel Industry to blame?

There’s a choking, Beijingian smog hanging over Parisian skies. Warm, still cond...

Climate change is happening, affecting all areas of the globe – I.P.C.C.

Climate change is happening, affecting all areas of the globe – I.P.C.C.

The effect of climate change is already being felt worldwide, according the Inte...

Hong Kong extends its registration tax exemption for E.V.s

Hong Kong extends its registration tax exemption for E.V.s

Hong Kong has passed a resolution that will extend its first registration tax ex...

Make a green choice by purchasing eco-clothing for your kids

Make a green choice by purchasing eco-clothing for your kids

There are several benefits of organic kid’s clothing. As people are becoming env...

Restoring the beauty of the Chesapeake Bay

Restoring the beauty of the Chesapeake Bay

The Chesapeake Bay is America’s largest estuary, which is a body of water that l...

Business

Smog causes partial car ban in Paris – But is the Diesel Industry to blame?

Smog causes partial car ban in Paris – But is the Diesel Industry to blame?

Monday, 07 April 2014

There’s a choking, Beijingian smog hanging over Parisian skies. Warm, still conditions have caused car fumes and chemicals to collect above the city a...

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Technology

Politics

More time needed for a decision on Keystone XL Pipeline

More time needed for a decision on Keystone XL Pipeline

Wednesday, 23 April 2014

The United States Department of State will be extending its decision-making period on the submission of their views on the proposed Keystone Pipeline ...

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Living Green

Good cooperation between animals and humans can save the environment

Good cooperation between animals and humans can save the environment

Monday, 21 April 2014

Even though humans are regarded as the most intelligent beings of the lot, recent researches show that, without the help of some particular animals, i...

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Renewables

Low-Carbon

Five best green construction companies

Five best green construction companies

Wednesday, 23 April 2014

In this contemporary world, technological advancements and concerns about environmental conservation have given rise to the establishment of many gree...

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Opinion

Restoring the beauty of the Chesapeake Bay

Restoring the beauty of the Chesapeake Bay

Thursday, 27 March 2014

The Chesapeake Bay is America’s largest estuary, which is a body of water that links rivers to the sea and acts as a bridge between freshwater and sal...

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G.E. invested $1.4 billion in solar power in 2011

Erratum: Previously this story indicated that G.E. invested $5 billion in solar last year. The $5 billion in fact only represents the total value of projects that GE Energy Financial Services has invested in. We apologize for the error.

GE Energy Financial Services, a unit of G.E., invested nearly $1.4 billion in investment commitments in solar power projects this past year, the company said.

"We started last year with the goal of increasing our investments in solar power given improving solar technologies and decreasing costs, and have exceeded our own expectations by doubling our portfolio, investing in attractive projects across the globe," said Alex Urquhart, president and CEO of GE Energy Financial Services.

GE Energy Financial Services, which invests in energy assets, now has a 1-gigawatt portfolio spanning 48 solar power plants in six countries - Australia, Canada, Italy, Portugal, Spain and the United States.

In line with G.E.'s Ecomagination initiative to expand its cleaner energy products and reduce greenhouse gas emissions, GE Energy Financial Services has invested around $8 billion in a portfolio of renewable energy assets such as wind, solar, biomass, hydro and geothermal power, according to the conglomerate.

G.E.'s latest solar power deal is a $100 million investment in the Arlington Valley Solar Energy II project, a crystalline silicon photovoltaic solar farm in Arizona.

GE Energy Financial services provides structured project finance using debt and equity, as well as construction loans, lease financing, funding for late-stage project development efforts and venture capital for promising businesses involved in energy. – EcoSeed Staff



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