NEWARK, NJ - June 20, 2014: Energy Investors Funds (“EIF”), an energy-focused private equity firm, announced today that two EIF-managed funds have indirectly acquired an additional 50 percent ownership stake in the Newark Energy Center from Hess Corporation (NYSE: HES) using a $590 million loan from Crédit Agricole Corporate and Investment Bank, GE unit (NYSE: GE) GE Energy Financial Services and Mitsubishi UFJ Financial Group (MUFG).
OKAYAMA, JAPAN -- June 9, 2014: Expanding its international and renewable energy footprints, GE unit (NYSE: GE) GE Energy Financial Services has invested in a 32-megawatt solar photovoltaic power project in Japan. This transaction, with project developer Pacifico Energy, contributes to GE Energy Financial Services' plan to invest over USD $1 billion annually in renewable energy projects worldwide.
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STAMFORD, CONN. -- April 24, 2014 -- GE Energy Financial Services announced today it has exceeded $10 billion in renewable energy investment commitments worldwide to become one of the industry's leading investors. The projects generate twice the electricity consumed in Los Angeles annually, avoid greenhouse gases equivalent to the annual car emissions in Massachusetts, and create an estimated 10,000 US jobs.
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LAS VEGAS and ELGIN, ILLINOIS-- April 8, 2014 -- Growing its power debt business, GE unit (NYSE: GE) GE Energy Financial Services is providing a loan to investment firm Rockland Capital, LLC to support its acquisition of the gas-fired Elgin Energy Center in Illinois. The deal was announced today at the 29th Annual Platt's Global Power Markets Conference in Las Vegas where GE Energy Financial Services serves as an Executive Sponsor.
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DUBLIN, Ireland, 25 February 2014 -- GE Energy Financial Services, a unit of GE (NYSE: GE), announced today it has made its first equity investment in Ireland's wind power market by acquiring two wind farm construction projects that will be powered by the GE's flagship 2.85MW wind turbines. With a combined capacity of 51 megawatts, the wind farms, acquired from Element Power and now under construction, will help Ireland meet its renewable energy generation targets, produce power for thousands of homes, and reduce electricity costs for Irish consumers.
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COLLEGE STATION, TX -- Jan. 8, 2014 -- GE Energy Financial Services, a unit of GE (NYSE: GE), has formed its third partnership with a Vess Oil Corp. affiliate to purchase oil reserves in East Texas for $108 million. The partnership is acquiring approximately 13,000 net acres and associated Woodbine production from an affiliate of EnerVest, Ltd. The assets are located approximately 20 miles northeast of College Station in Brazos, Madison and Grimes counties, and the target zones are the existing Woodbine and prospective Eagle Ford formations.
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GREENWICH, Conn., Jan. 7, 2014 - Starwood Energy Group Global, LLC, a leading private investment firm focused on energy infrastructure, announced today that an affiliate has completed agreements to finance and construct its first wind farm, a 211 Megawatt (MW) project 45 miles south of Lubbock, Texas.
The Stephens Ranch project, which represents the first of two phases that will total 377 MW, will use GE 1.7-100 turbines and be built by Wanzek Construction, with completion scheduled for late 2014.
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HENDERSON, Nev. Jan. 6, 2014 -- Supporting a power plant that uses GE technology to deliver reliable, lower-emission energy while expanding its generation portfolio, GE Energy Financial Services - through GE Capital Markets, Inc. -- served as the lead arranger in a $97.4 million senior secured credit facility for Saguaro Power Company's 105-megawatt combined cycle cogeneration project in Nevada.
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ROCK FALLS, IL -- Dec. 12, 2013 -- GE (NYSE: GE) announced today it is anchoring a lending group for longtime customer Invenergy LLC to finance construction of its 584-megawatt Nelson Energy Center in Illinois. The plant will operate with GE's 7F gas turbine technology, with support of a long-term GE maintenance services agreement.