General Electric Company (NYSE:GE) has funded in a Solar leasing firm

Posted by Chris Bell July 8, 2013 0 Comment 1263 views

General Electric Company (NYSE:GE) has recently funded in a Solar leasing firm named Sungevity’s equity worth $15 million. GE is planning to expand its business in new markets and new products apart from its power generation equipments.

GE has also launched its new business unit in China trying to grab the growth opportunities for the company’s power generation products and services which aims at meeting the demands to have cleaner and more energy efficient solutions.

The General Manager of the Power Generation Products and Services China unit is Yang Dan. The business will operate from Beijing which will includes GE’s steam and gas turbine along with generator and gasification product and services.

Steve Bolze, President and CEO of GE Power & Water has remarked saying that the company’s new business in China will help the company to increase its capabilities by optimizing the company’s power generation partners in China. GE has entered into China to operate its business because of the country’s unique local dynamics and has no further plan to operate such business in any other country.

GE is planning to realign several of its Power & Water businesses in China because the company is focusing on to build relationships and to capture the local market business to enhance the company’s partnership with the country. Until this local businesses support the company’s dedicated Power Generation Products and Services, it is expected that the growing demand for power in China is to double in the upcoming 10 years which can prove to be beneficial for the company and to have a strong hold in Chinese power manufacturing market.

About Chris Bell

Chris Bell is an investing reporter for GDP Insider. Chris covers financial markets and Wall Street, concentrating on developments affecting individual investors and their portfolios. Chris is also over consumer reporter and covers a wide variety of issues ranging from housing to immigration to urban poverty. Chris graduated from the University of Scranton with a degree in Communication and Philosophy. Chris's diligent investigations earned him the honor of being named "Best Reporter" once by the Headliners Foundation of Texas and once by the Houston Press Club.

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