MIYAZAKI CITY, JAPAN - MARCH 31, 2015: GE unit (NYSE:GE) GE Energy Financial Services and Virginia Solar Group subsidiary Pacifico Energy have partnered for a third time to construct a solar power project in Japan. GE Energy Financial Services and Virginia Solar Group will jointly invest equity in a 96.2-megawatt (DC) photovoltaic solar plant, with GE Energy Financial Services’ commitment totaling ¥7.5 billion. Construction of the plant is underway in Hosoe on Kyushu Island, in the prefecture of Miyazaki.
EDINBURGH, SCOTLAND, 26 MARCH 2015 - GE Energy Financial Services, a unit of GE (NYSE: GE), announced today that it has signed an agreement with SSE plc, one of the largest generators and suppliers of energy in the UK, to acquire the 16-megawatt Langhope Rig wind farm, which is nearing construction completion near Hawick, in the Scottish Borders. Situated approximately 55 miles south of Edinburgh, the project supports GE’s commitment to international expansion and investing USD $1 billion annually in renewable energy projects worldwide.
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OKAYAMA, Japan--GE unit (NYSE:GE) GE Energy Financial Services is continuing its expansion into the Japanese renewable energy power market, completing its second solar project financing transaction with Pacifico Energy, a Tokyo-based utility-scale solar project developer and subsidiary of Virginia Solar Group. GE Energy Financial Services invested alongside Virginia Solar Group in Mimasaka Musashi, a 42-megawatt (DC) photovoltaic solar power project under construction in the prefecture of Okayama.
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BAKERSFIELD, CA - October 15, 2014 - GE unit (NYSE: GE) GE Energy Financial Services has arranged a senior secured revolving credit facility for All American Oil & Gas, Inc. to refinance debt and fund reserve development in the Bakersfield, California, Kern River Oil Field. The $200 million facility -- with a $131 million initial borrowing base -- was provided to oil and gas exploration and production company Kern River Holdings, Inc., a wholly-owned subsidiary of All American Oil & Gas, Inc.
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OKAYAMA, JAPAN, September 29, 2014 - Kuni Umi Asset Management, GE (NYSE: GE) unit GE Energy Financial Services and Toyo Engineering Corporation have invested in Japan’s largest solar power project, a 231-megawatt facility to be built in Setouchi City, Okayama Prefecture, via special purpose company and representative member Setouchi Future Creations. GE Energy Financial Services holds a 60 percent stake in the project, one of the largest single equity investments in renewable energy in Japan. Financial details were not disclosed.
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TULSA, OK -- Aug. 5, 2014 - GE unit (NYSE: GE) GE Energy Financial Services has partnered with Casillas Petroleum Corp. to purchase oil and gas reserves in southwest Kansas from Cimarex Energy Co. (NYSE: XEC). The purchase marks the first collaboration between GE and Casillas Petroleum. Financial details were not disclosed.
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AMARILLO, TEXAS -- July 8, 2014: Subsidiaries of E.ON SE (E.ON) and GE (NYSE: GE) are forming an investment partnership to own and operate Grandview Phase I, a 211-megawattt GE-powered wind farm under construction in the Texas Panhandle. GE Energy Financial Services provided 50 percent of the partnership equity in the project, with the balance provided by E.ON's subsidiary E.ON Climate and Renewables North America, LLC (EC&RNA). Financial details were not disclosed.
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SAN DIEGO, Calif. and AMARILLO, Texas (July 7, 2014): EDF Renewable Energy announced today that the 161-megawatt (MW) Spinning Spur II Wind Project in Texas has reached commercial operation (COD). The company further announced the close of structured equity financing from GE Energy Financial Services (NYSE: GE) and MUFG Union Bank, N.A. The completion of construction and COD milestone allows the closing of the sale of 50 percent of EDF Renewable Energy's equity interest in the project to UBS International Infrastructure Fund.
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