GE unit invests $65M in wind farm
"Ecomagination" is alive and growing at General Electric Co. as the Fairfield-based giant continues its investment in renewable energy.
GE Energy Financial Services in Stamford has taken a $65 million stake in a 152-megawatt wind farm near Woodward, Okla., and it is pursuing an energy purchase agreement for a proposed hydroelectric plant in British Columbia, Canada.
CPV Renewable Energy Co., an affiliate of Competitive Power Ventures Inc., has started construction of the CPV Keenan II wind farm, with the goal of finishing it by December. The project has secured a 20-year power purchase agreement with Oklahoma Gas & Electric Co., and is expected to generate enough electricity to power about 45,000 average Oklahoma homes.
According to U.S. Environmental Protection methodology, it will avoid about 413,000 tons a year of greenhouse gas emissions -- the equivalent of taking nearly 72,000 cars off the road -- by generating electricity with wind power rather than fossil fuels.
GE project would boost Ohio aerospace growth
General Electric Co.’s pending decision about whether to build a research and testing center to advance the production of electrical power systems for military and civilian aircraft would boost Ohio’s effort to establish itself as a national hub for aerospace research and development, officials said.
GE has said that southwest Ohio is a leading candidate for the site, if the company’s leadership gives the go-ahead for establishing the center at a current GE operation. That would include GE Aviation’s jet engine plant in the Cincinnati suburb of Evendale and its GE Electrical Power Systems business in Vandalia.
Ohio has offered GE a $7.6 million incentive grant to support the project.
Company sites in Grand Rapids, Mich.; Erlanger, Ky., and Cheltenham, England, also are possibilities.
Showing posts with label Oklahoma. Show all posts
Showing posts with label Oklahoma. Show all posts
Monday, March 15, 2010
Monday, February 22, 2010
India, Dividend, Oklahoma Wind Farm, Electric Vehicle Charging, and China Growth
GE Official: India Should Incentivize Manufacturing
India's tax regime often favors importing finished products rather than components and raw materials, and the Indian government needs to offer new incentives to stimulate homegrown manufacturing, a senior Indian official at General Electric Co. said Monday.
V. Raja, president and chief executive of GE Healthcare South Asia, said in an interview that the import tariff on finished goods that GE brings into India typically runs at about 10%. Because of the way the tariff structure works, the duty on the import of components or raw materials necessary for local manufacturing often amount to more than 10%.
GE's board of directors authorise USD0.10 quarterly dividend
The board of directors of General Electric Company on Friday authorised a regular quarterly dividend of USD0.10 per outstanding share of its common stock.
The dividend pay out will be made on 26 April 2010 to shareowners of record at the close of business on 1 March 2010. The ex-dividend date is 25 February 2010.
GE to invest $65 mln in Oklahoma windfarm
GE Energy Financial Services, a unit of the General Electric Co. said Tuesday it will provide $65 million to fund construction of a wind farm near Woodward, Okla. The wind farm will be developed by CPV Renewable Energy Co., an affiliate of Competitive Power Venture Inc. The project is scheduled to be completed by year's end and will produce enough energy to power about 45,000 homes. In addition to the initial funding, GE will provide an option for $100 million more in partnership equity upon commencement of commercial operations. The total cost of the wind farm is projected to be $319 million, and will also be financed with a $212 million loan from The Bank of Tokyo-Mitsubishi and Union Bank.
GE Links With Juice for Smart Electric Vehicle Charging
General Electric plans to get into smart charging for electric vehicles in a big way this year, and it’s partnering with 2-year-old Juice Technologies to do it. This morning the companies announced a joint development agreement to create charging devices that will integrate with GE’s smart meters and Juice’s Plug Smart intelligent charging system, helping drivers to juice up their batteries when power grid demands and electricity rates are lower (see our list of 10 Electric Car Smart Charging Players to Watch). According to today’s release, “initial” chargers under the agreement will roll out in the U.S. in the second quarter of this year, “with full-scale production ramping up throughout the year.” Down the road, GE and Juice are targeting global distribution.
According to Thomas Hurkmans, co-founder and chief financial officer for Juice, whose products carry the brand Plug Smart, today’s deal is exclusive. “Every time GE builds a smart charging system for electric vehicles,” he said, “it will be with us.” GE has agreed to work with Juice and finance the development and manufacturing of EV charging systems, which will be co-branded and “sold through multiple channels,” including GE’s network.
GE’s Rice Says China Isn’t Slowing; 750 Hires Planned
General Electric Co., the world’s biggest maker of jet engines and locomotives, said its businesses in China aren’t slowing down and the company will add about 750 salespeople in the country this year and more in 2011.
“Someday, the market in China is going to look like the market in the U.S., and we’ve got to be equipped with the resources to serve the market in the same way,” Vice Chairman John Rice, who oversees GE’s Technology Infrastructure segment, said today at the Barclays Capital Industrial Select Conference in Miami. “We think it’s critical to our success there.”
GE, which gets more than half of its sales outside the U.S., considers the benefits of operating in China outweighing the risks, such as intellectual property rules that aren’t ideal, Rice said. GE last year announced joint ventures to develop high-speed rail and avionics in the country that will create hundreds and preserve thousands of U.S. jobs, he said.
India's tax regime often favors importing finished products rather than components and raw materials, and the Indian government needs to offer new incentives to stimulate homegrown manufacturing, a senior Indian official at General Electric Co. said Monday.
V. Raja, president and chief executive of GE Healthcare South Asia, said in an interview that the import tariff on finished goods that GE brings into India typically runs at about 10%. Because of the way the tariff structure works, the duty on the import of components or raw materials necessary for local manufacturing often amount to more than 10%.
GE's board of directors authorise USD0.10 quarterly dividend
The board of directors of General Electric Company on Friday authorised a regular quarterly dividend of USD0.10 per outstanding share of its common stock.
The dividend pay out will be made on 26 April 2010 to shareowners of record at the close of business on 1 March 2010. The ex-dividend date is 25 February 2010.
GE to invest $65 mln in Oklahoma windfarm
GE Energy Financial Services, a unit of the General Electric Co. said Tuesday it will provide $65 million to fund construction of a wind farm near Woodward, Okla. The wind farm will be developed by CPV Renewable Energy Co., an affiliate of Competitive Power Venture Inc. The project is scheduled to be completed by year's end and will produce enough energy to power about 45,000 homes. In addition to the initial funding, GE will provide an option for $100 million more in partnership equity upon commencement of commercial operations. The total cost of the wind farm is projected to be $319 million, and will also be financed with a $212 million loan from The Bank of Tokyo-Mitsubishi and Union Bank.
GE Links With Juice for Smart Electric Vehicle Charging
General Electric plans to get into smart charging for electric vehicles in a big way this year, and it’s partnering with 2-year-old Juice Technologies to do it. This morning the companies announced a joint development agreement to create charging devices that will integrate with GE’s smart meters and Juice’s Plug Smart intelligent charging system, helping drivers to juice up their batteries when power grid demands and electricity rates are lower (see our list of 10 Electric Car Smart Charging Players to Watch). According to today’s release, “initial” chargers under the agreement will roll out in the U.S. in the second quarter of this year, “with full-scale production ramping up throughout the year.” Down the road, GE and Juice are targeting global distribution.
According to Thomas Hurkmans, co-founder and chief financial officer for Juice, whose products carry the brand Plug Smart, today’s deal is exclusive. “Every time GE builds a smart charging system for electric vehicles,” he said, “it will be with us.” GE has agreed to work with Juice and finance the development and manufacturing of EV charging systems, which will be co-branded and “sold through multiple channels,” including GE’s network.
GE’s Rice Says China Isn’t Slowing; 750 Hires Planned
General Electric Co., the world’s biggest maker of jet engines and locomotives, said its businesses in China aren’t slowing down and the company will add about 750 salespeople in the country this year and more in 2011.
“Someday, the market in China is going to look like the market in the U.S., and we’ve got to be equipped with the resources to serve the market in the same way,” Vice Chairman John Rice, who oversees GE’s Technology Infrastructure segment, said today at the Barclays Capital Industrial Select Conference in Miami. “We think it’s critical to our success there.”
GE, which gets more than half of its sales outside the U.S., considers the benefits of operating in China outweighing the risks, such as intellectual property rules that aren’t ideal, Rice said. GE last year announced joint ventures to develop high-speed rail and avionics in the country that will create hundreds and preserve thousands of U.S. jobs, he said.
Friday, February 29, 2008
Recent News: GE Energy (China), GE Financial Services, GE Infrastucture, New GE Appliances, and GE Money.
GE Energy to license gasification technology to Guizhou Jinchi
Power generation and energy delivery solutions provider GE Energy's gasification technology has been selected for a coal-to-chemical production facility owned by the Guizhou Jinchi Chemical Company in the Tongzi County of China's Guizhou province...
GFB Acquisition and GE Financial to sell oil and gas interests to Isramco
Oil and gas property operator GFB Acquisition I and GE Financial Services have executed an agreement to sell their varying working interests in certain producing oil and natural gas properties located in Texas, New Mexico and Oklahoma to Isramco for approximately $102 million...
Reuters Summit - GE Infrastructure eyes acquisitions
General Electric Co's infrastructure unit will likely make several acquisitions in the power storage, power management and control systems sectors in 2008, the unit's chief executive said on Monday...
GE Reveals New Laundry Pair, Dishwasher
GE Consumer & Industrial introduced a new front-load laundry pair and steam-cleaning dishwasher under the Profile badge at this month's International Builders' Show....
GE pegs base for two units at $400 mn
GE Money has pegged the base price of its consumer finance and housing mortgage business at around $400 million, according to industry officials. This is because GE has invested $400 million in these businesses and is expecting a premium on this investment. It is understood that bids have already come in though it could not be ascertained if these were binding bids...
Power generation and energy delivery solutions provider GE Energy's gasification technology has been selected for a coal-to-chemical production facility owned by the Guizhou Jinchi Chemical Company in the Tongzi County of China's Guizhou province...
GFB Acquisition and GE Financial to sell oil and gas interests to Isramco
Oil and gas property operator GFB Acquisition I and GE Financial Services have executed an agreement to sell their varying working interests in certain producing oil and natural gas properties located in Texas, New Mexico and Oklahoma to Isramco for approximately $102 million...
Reuters Summit - GE Infrastructure eyes acquisitions
General Electric Co's infrastructure unit will likely make several acquisitions in the power storage, power management and control systems sectors in 2008, the unit's chief executive said on Monday...
GE Reveals New Laundry Pair, Dishwasher
GE Consumer & Industrial introduced a new front-load laundry pair and steam-cleaning dishwasher under the Profile badge at this month's International Builders' Show....
GE pegs base for two units at $400 mn
GE Money has pegged the base price of its consumer finance and housing mortgage business at around $400 million, according to industry officials. This is because GE has invested $400 million in these businesses and is expecting a premium on this investment. It is understood that bids have already come in though it could not be ascertained if these were binding bids...
Monday, December 31, 2007
Recent Press Releases: New Officers, GE Money, GE Corporate Lending, GE Capital, NBC Universal, and GE Commercial Finance
GE Appoints Six Company Officers
GE today announces the appointment of six new company officers. GE currently has 189 GE officers globally...
GE Money, Yes! Solar SolutionsTM Create New Financing Program for Solar Energy Solution
GE Money and Yes! Solar SolutionsTM, a retail outlet for solar-powered modules and panels, today announced a new multi-year relationship to provide revolving and installment consumer loans on solar products...
GE Corporate Lending Provides $325 Million to Sportsman’s Warehouse
GE Commercial Finance Corporate Lending today announced it provided a $325 million asset-based credit facility to Sportsman’s Warehouse, an outdoor sporting goods retailer...
GE Capital to Acquire Most of Merrill Lynch Capital
GE Capital has agreed to purchase most of Chicago-based Merrill Lynch Capital, Merrill Lynch and Co., Inc.’s (NYSE: MER) wholly-owned middle-market commercial finance business...
GE Healthcare Announces Expansion of Nuclear Cardiology Portfolio for Medical Diagnostics Business
GE Healthcare, the worldwide leader in Diagnostic Imaging Technologies, announced today that it has entered into an agreement with DRAXIMAGE, a division of DRAXIS Health...
GE Contributes $200,000 to Charities from NBC Universal’s "Clash of the Choirs" - Local Oklahoma charity to receive $50,000
GE announced today that it would donate a total of $200,000 to four charities during the two-hour season finale of NBCU’s live competition show, “Clash of the Choirs.”
GE Contributes $200,000 to Charities from NBC Universal’s "Clash of the Choirs" - Local Houston charity to receive $50,000
GE announced today that it would donate a total of $200,000 to four charities during the two-hour season finale of NBCU’s live competition show, “Clash of the Choirs.”
GE Contributes $200,000 to Charities from NBC Universal’s "Clash of the Choirs" - Local Philadelphia charity to receive $50,000
GE announced today that it would donate a total of $200,000 to four charities during the two-hour season finale of NBCU’s live competition show, “Clash of the Choirs.”
GE Contributes $200,000 to Charities from NBC Universal’s "Clash of the Choirs" - Local New Haven charity to receive $50,000
GE announced today that it would donate a total of $200,000 to four charities during the two-hour season finale of NBCU’s live competition show, “Clash of the Choirs.”
GE Commercial Finance and Allied Capital Launch $3.6 Billion Unitranche Fund LLC
GE Commercial Finance and Allied Capital (NYSE: ALD) announced today that they have partnered to form a $3.6 billion senior secured unitranche loan fund...
GE today announces the appointment of six new company officers. GE currently has 189 GE officers globally...
GE Money, Yes! Solar SolutionsTM Create New Financing Program for Solar Energy Solution
GE Money and Yes! Solar SolutionsTM, a retail outlet for solar-powered modules and panels, today announced a new multi-year relationship to provide revolving and installment consumer loans on solar products...
GE Corporate Lending Provides $325 Million to Sportsman’s Warehouse
GE Commercial Finance Corporate Lending today announced it provided a $325 million asset-based credit facility to Sportsman’s Warehouse, an outdoor sporting goods retailer...
GE Capital to Acquire Most of Merrill Lynch Capital
GE Capital has agreed to purchase most of Chicago-based Merrill Lynch Capital, Merrill Lynch and Co., Inc.’s (NYSE: MER) wholly-owned middle-market commercial finance business...
GE Healthcare Announces Expansion of Nuclear Cardiology Portfolio for Medical Diagnostics Business
GE Healthcare, the worldwide leader in Diagnostic Imaging Technologies, announced today that it has entered into an agreement with DRAXIMAGE, a division of DRAXIS Health...
GE Contributes $200,000 to Charities from NBC Universal’s "Clash of the Choirs" - Local Oklahoma charity to receive $50,000
GE announced today that it would donate a total of $200,000 to four charities during the two-hour season finale of NBCU’s live competition show, “Clash of the Choirs.”
GE Contributes $200,000 to Charities from NBC Universal’s "Clash of the Choirs" - Local Houston charity to receive $50,000
GE announced today that it would donate a total of $200,000 to four charities during the two-hour season finale of NBCU’s live competition show, “Clash of the Choirs.”
GE Contributes $200,000 to Charities from NBC Universal’s "Clash of the Choirs" - Local Philadelphia charity to receive $50,000
GE announced today that it would donate a total of $200,000 to four charities during the two-hour season finale of NBCU’s live competition show, “Clash of the Choirs.”
GE Contributes $200,000 to Charities from NBC Universal’s "Clash of the Choirs" - Local New Haven charity to receive $50,000
GE announced today that it would donate a total of $200,000 to four charities during the two-hour season finale of NBCU’s live competition show, “Clash of the Choirs.”
GE Commercial Finance and Allied Capital Launch $3.6 Billion Unitranche Fund LLC
GE Commercial Finance and Allied Capital (NYSE: ALD) announced today that they have partnered to form a $3.6 billion senior secured unitranche loan fund...
