• Subscribe
  • Magazine
  • Advertise

    • Latest from Industry Trends

    © Exxelia
    © Panasonic Connect North America
    NPM-GH SMT pick-and-place machine
    © TradeBeyond
    TradeBeyond PO Line Risk Rating for Supply Chains
    © McAlister Design & Automation, LLC
    Battery Test & Assembly System
    © Antares Vision Group
    DIAMIND Sentry platform for pharma exceptions
    © CoreTechnologie GmbH
    3D nesting example in 4D additive software
    © COVAL
    © Teledyne FLIR IIS
    © TPL Vision
    © DigiKey
    Glass-Office-Building
    1. Industry Trends

    GE Invests in Japan's Renewable Energy Power Market

    June 19, 2014
    GE Invests in Japan's Renewable Energy Power Market

    As part of GE’s plan to invest over $1 billion annually in renewable energy projects, today the company announced that its investment arm, GE Energy Financial Services, has funded a 32-megawatt solar photovoltaic power project in Japan.

    Located in the prefecture of Okayama, the project, called Kumenan, has started construction and is expected to reach commercial operations in the first quarter of 2016.

    “Our investment in Kumenan advances our global growth into new markets with a strong risk-return profile,” said David Nason,  CEO of GE Energy Financial Services.

    With approval by Japan’s Ministry of Economy, Trade and Industry, Kumenan will sell power to a regional utility through a 20-year power purchase agreement at a fixed tariff rate.

    With Japan looking to diversify its power generation mix, it has set a goal of producing about 20% of its power from renewable sources by 2030 and implemented a feed-in tariff which attracts investments.  Nason noted that Kumenan helps Japan meet its renewable energy targets and sets the stage for future investments by the GE unit.

    GE Energy Financial Services has made project investment commitments of $1.8 billion in equity and debt in more than one gigawatt of solar power projects worldwide. The business unit also intends to finance Japan’s largest solar project, in Setouchi, expanding its foothold in the region.

    About the Author

    Adrienne Selko | Senior Editor - MH&L, IW, & EHS Today

    Adrienne Selko has written about many topics over the 17 years she has been with Endeavor Business Media and currently focuses on workforce development strategies. Previously Adrienne was in corporate communications at a medical manufacturing company as well as a large regional bank.

    She is the author of Do I Have to Wear Garlic Around My Neck? which made the Cleveland Plain Dealer's best sellers list. She is a senior editor at Material Handling & Logistics, EHS Today, and IndustryWeek. 

    Editorial Mission Statement:

    Manufacturing is the enviable position of creating products, processes, and policies that solve the world’s problems. When the industry stepped up to manufacture what was necessary to combat the pandemic, it revealed its true nature. My goal is to showcase the sector’s ability to address a broad range of workforce issues including technology, training, diversity & inclusion, with a goal of enticing future generations to join this amazing sector.

    Why I Find Manufacturing Interesting: 

    On my first day working for a company that made medical equipment such as MRIs, I toured the plant floor. On every wall was a photo of a person, mostly children. I asked my supervisor why this was the case and he said that the work we do at this company has saved these people’s lives. “We never forget how important our work is and everyone’s contribution to that.” From that moment on I was hooked on manufacturing.

    I have talked with many people in this field who have transformed their own career development to assist others. For example, companies are hiring those with disabilities, those previously incarcerated, and other talent pools that have been underutilized. I have talked with leaders who have brought out the best in their workforce, as well as employees doing their best work while doing good for the world.