GE Increases Stake in eSolar; New Brightsource Project Includes Energy Storage

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GE Increases Stake in eSolar; New Brightsource Project Includes Energy Storage

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#GE Increases Stake in eSolar, extending its #solar projects. Brightsource Project includes #energy storage. http://3bl.me/wrdv6x

Summary

GE has always been a great supporter of the development of solar power. Recently, GE increased its commitment with an additional $40 million investment in solar thermal company eSolar. GE first announced plans to invest an undisclosed amount in eSolar in June. eSolar's technology fills a crucial gap in GE's energy portfolio, allowing it to sell power plants that run on solar during the day and natural gas at night. GE and eSolar are targeting sales to Europe, Africa, the Middle East and the U.S., and they are working on a 530 MW project in Turkey with investor and developer MetCap Energy.

Wednesday, August 24, 2011 - 8:30am

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CONTENT: Blog

Earlier this week, we reported on two massive solar projects that are approved to move forward in California's Carrizo Plain in San Luis Obispo County, California: SunPower's 250 megawatt (MW) California Valley Solar Ranch and First Solar's 550 MW Topaz Solar Farm. The combined 800 MW solar plants will turn the Carrizo Plain into a major renewable energy hub, exceeding all of California's distributed solar. Sunpower (NASDAQ: SPWRA) and First Solar (NASDAQ: FSLR) have reached an agreement with Defenders of Wildlife, the Center for Biological Diversity, and the Sierra Club which will allow the projects to move forward while protecting the area's wildlife. Over 9,000 acres will be added to the 17,000 acres of land required to be permanently protected and preserved, for a total of 40 square miles. 

 

About GE
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
 
Citizenship at GE is more than a program or a set of good intentions - it is a full-time commitment built upon cultural behaviors and actions. These actions are integrated with business strategy and have defined goals, strategies and metrics that make it actionable and accountable.
 
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Keywords: Energy | California | Carrizo Plain | Center for Biological Diversitym Sierra Club | First Solar | GE | San Luis Obisoi County | defenders of wildlife | eSolar | solar power | sunpower

CAMPAIGN: Energy at GE

CONTENT: Blog