GE Energy is to target emerging markets with investments of $5 billion over the next two-and-a-half years to propel the company’s growth and meet soaring world energy demand.
The investments amount to one-quarter of GE Energy Financial Services’ total capital investment plan, a significant rise from the traditional ten per cent. It has already opened new offices in Southeast Asia and the Middle East, and expanded in India.
The plans will broaden GE Energy’s global footprint and will boost the company’s international revenues. GE reported that international revenues topped 50 per cent for the first time in 2007, up from an historic average of 40 per cent.
GE hopes to take advantage of rapidly-growing non-US economies with particular emphasis on renewable energy and captive power. It will target markets in Latin America, Southeast Asia and the Middle East as well as Turkey and India.
“As we deepen our understanding of new international regulatory and legal environments, we are pursuing our full suite of products and segments, with emphasis on renewable energy, captive power and water projects,” said Colleen Harkness, managing director and head of global growth at GE Energy Financial Services. “Our transaction targets range from small, growing power companies and independent power producers to major regional players and large multi-national corporations.”