GE Capital today announced that it had provided QEnergy, a leading Australian electricity retailer for small to medium-sized businesses (SMEs), with a $10 million financing facility.
The facility, which will increase in line with anticipated growth in the business, will help QEnergy expand its major operations in Queensland and New South Wales into Victoria, as well as continuing to grow in South Australia and the Northern Territory.
GE announced second-quarter 2013 operating earnings of $3.7 billion, or $0.36 per share, down 8% and 5% respectively from the second quarter of 2012.
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GE has consistently supported the Renewable Energy Target (RET) of 45,000GWh by 2020 and welcomed the bipartisan support for the target.
As a supplier of more than 20,000 wind turbines around the world and a significant investor in renewable energy projects itself, GE believes a stable RET and favourable sites augured well for the future development of renewables as part of Australia's energy mix.
However, the current legislated requirement for the RET to reviewed every two years itself creates uncertainty for renewable energy project developers, investors and suppliers.
Rio Tinto Deploying GE's LM6000-PF Gas Turbines at Two Sites in Pilbara Region
Cape Lambert Project Marks First Use of GE's LM6000-PF for Combined Cycle Project in Australia
GE Technology Supports Rio Tinto's Mine of the Future™Program
Rio Tinto (ASX: RIO, LSE: RIO), one of the world's leading mining companies, has selected GE's (NYSE: GE) aeroderivative gas turbine technology to supply reliable power needed for iron ore production at two sites in the Pilbara region of Western Australia.
GE Capital today announced it had provided McWilliam's Wines Group Ltd, one of the largest wine companies in Australia, with a $55 million financing facility.
The five-year facility provides McWilliam's Wine Group scope to grow and to further consolidate its position as an end-to-end wine business spanning grape sourcing, winemaking and sales to major retailers, wholesalers and consumers across Australia and globally.
Best-in-class product delivers superior safety and productivity for customers
GE Transportation, a unit of GE (NYSE:GE) and one of the world's leading suppliers to the mining industry, celebrated a significant milestone today with the roll out of its 500th Minecruiser vehicle. An Mk7.0 TIER 3 Minecruiser, the latest version of the top-performing underground coal mining transporters, will be delivered to Centennial Coal, which fields 24 of the vehicles.
GE today announced it had been awarded a contract with its consortium partner, Downer EDI Limited, to supply turbines, build and maintain the $350 million Boco Rock wind farm in New South Wales.
Upon completion, the wind farm will comprise 67 turbines located just outside of Nimmitabel, in the New South Wales Snowy Mountains region. The project is permitted for potential future expansion to 121 turbines.
GE announced first-quarter 2013 operating earnings of $4.1 billion, or $0.39 per share, up 14% and 15% respectively from the first quarter of 2012.
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