GE sells energy investments to capital fund for USD one billion

American industry giant General Electric is selling its renewable energy portfolio for USD one billion to capital fund Apollo Global Management.

Photo: General Electric Company

US industry group General Electric (GE) has sold a portfolio of a total value of approximately USD one billion, including debt in investments in renewable energy, to capital fund Apollo Global Management. It marks the first large, rapid deal made under new CEO H. Lawrence Culp who stepped into the role a few days ago after successor John Flannery who only spent one year in the job.

According to CNN, the portfolio consists of approximately 20 investments in renewable energy and natural gas as well as infrastructure in the oil and gas industry and investments in GE Capital's Energy Financial Services business unit which invests and finances customers within fields including renewable energy.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Further reading

Related articles

Latest News

See all jobs