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Year Founded: 1980

AUM: $422.1M | Dry Powder: $117.6M

5 Necco Street Boston, MA 02210 US

GE Energy Financial Services is a financial arm of General Electric. The firm prefers to invest in companies operating in the thermal power, renewable energy, oil, and gas infrastructure sectors. It focuses on conventional, renewable power, and oil and gas infrastructure projects

Key Contacts

  • Susan Flanagan

    President & Chief Executive Officer

  • Nomi Ahmed

    Chief Executive Officer

  • Vishal Gulati

    Chief Financial Officer

Investment Preferences

  • Preferred Industries

    Exploration, Production and Refining

  • Geographical Preference

    North America, US

  • Preferred Deal Types

    Buyout/LBO, Debt – General, Equity For Service, Later Stage VC, PE Growth/Expansion

  • Other Investment Preferences

    Prefers majority stake, Prefers minority stake, Will syndicate

Investments By Year

Source: Pitchbook

Funds Closed

EFS Energy Japan Investment Fund
Vintage: 2018

Size: $422.1M

Dry Powder: $117.5M 

Details: The fund targets solar power
projects and prefers to make impact investments in energy, infrastructure, and financial services in Japan

Investments By Industry

Investments By Region

Source: Pitchbook

Key Investments

In June 2022, GE Energy Financial Services acquired a 49% stake in the 148.5MW Morjar onshore wind project from Continuum Green Energy in Gujarat, India for an undisclosed sum. The transaction marks GE Energy Financial Services’ first onshore wind equity investment in Gujarat through a structured preferred equity solution

In September 2020, 1.2GW Hydro Asset was acquired by Greenko Group, via its financial sponsors EIG Global Energy Partners, GE Energy Financial Services, Government of Singapore Investment Corporation (GIC) and The Abu Dhabi Investment Authority, through an LBO for an undisclosed sum

In September 2019, E.ON secured over $200 million in tax equity financing to repower its Panther Creek I and Panther Creek II Wind Farms in Texas. GE Energy Financial Services underwrote and committed a portion of the tax equity which enabled E.ON to significantly increase the lifespan of the combined 258MW sites

In July 2019, GE Energy Financial Services and LongWing Energy S.C.A. reached financial close on a $150 million debt financing package for the first phase of the Zaporizhia Wind Farm, in the Zaporizhia region in southeast Ukraine. The phase one 98MW project is expected to produce over 330,000MWh of clean energy per year and power approximately 170,000 households

In June 2019, GE Energy Financial Services reached financial close on a €90 million project financing package with a German banking consortium and two European export credit agencies for the construction of phase II of a wind farm in the southern region of Zaporizhia, Ukraine. The project is owned by DTEK Renewables. It is part of DTEK’s two-phase process to build a 200MW wind farm in Ukraine

In October 2018, Orange Renewable, a developer of renewable energy projects was acquired by Greenko Group, via its financial sponsors TPG Growth, GIC Private, GE Energy Financial Services, EIG Global Energy Partners and Abu Dhabi Investment Authority, through a $300 million LBO

In April 2018, GE Energy Financial Services secured $150 million project financing to refinance and expand the Los Guindos open-cycle thermoelectric power plant in central Chile. The expansion of the power plant will nearly double its overall capacity from 139MW to approximately 275MW

In January 2018, GE Energy Financial Services committed to provide over $190 million of tax equity financing to the 200MW first stage of the 365MW Persimmon wind farm project in Oklahoma. GE Energy Financial Services also served as bookrunner, administrative agent and lender for $252 million of credit facilities

In January 2018, GE Energy Financial Services provided tax equity financing for the repowering of the combined capacity 136MW Sweetwater 1 & 2 wind farms in Nolan County, Texas. The wind farms are owned by Leeward Renewable Energy, LLC

Other Details

GE Energy Financial Services is a leading investor in the renewable energy market, having committed more than $15 billion globally in renewable projects since 2004. Its investment experience spans 18GW of wind power projects including onshore, offshore and repowering and 2.5GW of solar power projects. It has also invested $1 billion in other renewable power projects.

EFS Energy Japan Investment Fund is an infrastructure core fund managed by GE Energy Financial Services. The fund is located in Stamford, Connecticut, and targets solar power projects in Japan. The fund prefers to make impact investments in energy, infrastructure, and financial services and has a target size between $683.8 – $820.6 million.

3i Group, Abengoa, Abu Dhabi Investment Authority, Alterra Power, AMP Capital Investors, Arc Logistics Partners, Black Hills Energy, Brightwood Capital Advisors, Caisse de dépôt et placement du Québec, Canada Pension Plan Investment Board, DEG, DEME, General Electric Ventures, Impax Asset Management Group, Invenergy, Leaf Clean Energy, MUFG Union Bank, North Bridge Venture Partners, RockPort Capital Partners, Search Fund Partners, South Great Investment, Zachry American Infrastructure are some of the co-investors who invest alongside GE Energy Financial Services.

Source: Pitchbook, Company Website, Press Release