1 February 2005 - Companies that struggle to finance clean energy projects could now have a solution after GE Commercial Finance launched a new enterprise to provide financial solutions for the green sector. It is a joint initiative between GE Commercial Finance's Technology Lending and Energy Financial Services businesses.
Bill DeMars, managing director, Technology Lending, said: "This market is poised for long term growth and offers significant opportunity to companies that lead in technological innovation and responsiveness to business and consumer interest in clean energy."
The joint initiative will provide financing products and services to companies that either deliver the green energy directly or develop new technologies for cleaner and more efficient energy generation and distribution. Among GE's target markets are fuel cells, photovoltaic/solar, wind and wave power, biomass gasification and pollution control technologies.
Technology Lending, a unit of Global Media and Communications, provides debt financing to technology-related businesses, including emerging growth companies. Energy Financial Services provides financial products including structured equity, leveraged leasing, partnerships and project finance to companies throughout the energy industry.