GE Taps Asia, Renewables Growth, Makes Loan to Indonesia

Jakarta, Indonesia - Tapping into growth in Asia and in renewable energy, GE (NYSE: GE) unit GE Energy Financial Services announced today it has loaned US $50 million to Indonesia

The loan for the Wayang Windu plant near the town of Pangalengan, 200 kms southeast of Jakarta represents the first geothermal power investment by GE Energy Financial Services outside the United States, as well as the continued execution of its global growth strategy.

GE Energy Financial Services made the loan to a subsidiary of Star Energy, a privately held Indonesian energy developer, as it completed a turbine and steam feed project to double the plant

Source: IWR Online, 04 Nov 2009