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$25 Million Investment Marks GE as First Wind Manufacturer Included
in Sunedison’s ‘Yieldco’ IPO Financing
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Agreement Will Enhance International GE Wind Volume and Expand
Fleet Services
GE’s (NYSE:GE) renewable energy business today announced a $25 million
investment in TerraForm Global, LLC. TerraForm Global is a dividend
growth-oriented company, or 'yieldco,’ formed by SunEdison to own and
operate contracted renewable power generation assets in attractive,
high-growth emerging markets.
“This investment is about driving continued global growth for renewable
power,” said Anne McEntee, president & CEO of GE’s renewable energy
business. “Together with SunEdison, we will significantly increase wind
developments in key growth regions like Latin America, Europe, India and
China.”
The agreement is expected to help support new wind pipeline
opportunities for TerraForm Global, and GE also will provide life cycle
operations and maintenance support for TerraForm’s international wind
fleet. The two companies also have agreed to continue exploring
additional opportunities for growth-oriented collaboration.
About GE
GE (NYSE: GE) imagines things others don’t, builds things others can’t
and delivers outcomes that make the world work better. GE brings
together the physical and digital worlds in ways no other company can.
In its labs and factories and on the ground with customers, GE is
inventing the next industrial era to move, power, build and cure the
world. www.ge.com
About GE Power & Water
GE Power & Water provides customers with a broad array of power
generation, energy delivery and water process technologies to solve
their challenges locally. Power & Water works in all areas of the energy
industry including renewable resources such as wind and solar, biogas
and alternative fuels; and coal, oil, natural gas and nuclear energy.
The business also develops advanced technologies to help solve the
world’s most complex challenges related to water availability and
quality. Power & Water’s six business units include Distributed Power,
Nuclear Energy, Power Generation Products, Power Generation Services,
Renewable Energy and Water & Process Technologies. Headquartered in
Schenectady, N.Y., Power & Water is GE’s largest industrial business.
Follow GE Power & Water and GE’s renewables business on Twitter @GE_PowerWater
and @GErenewables.
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