ecomagination

GE Energy has increased its minority equity share to become a majority stakeholder in PrimeStar Solar, Inc., an emerging solar thin film technology and manufacturing company. This investment reflects GE’s continued commitment to advancing renewable energy technology with the goal of providing cost-competitive, cleaner energy solutions.

GE Energy first invested in PrimeStar Solar in the fall of 2007. The company is headquartered in Golden, Colorado, and was formed in June 2006 to develop and commercialize thin-film photovoltaic modules. PrimeStar Solar’s core management team has more than 100 years of thin-film equipment and process experience.

“Solar energy is playing an increasingly important role in helping our global customers to meet local renewable energy targets and standards,” said Matthew Guyette, Solar Platform Leader for GE Energy. “Solar is an integral part of our renewables portfolio, and our goal, through this investment, is to place GE’s solar business in a strategic position in the thin-film solar industry, adding to GE’s diverse range of power generation technologies.”

With rising fuel costs, climate change concerns and a growing demand for electricity, renewable energy resources such as solar power are becoming an increasingly valuable part of the world's energy mix. GE is diversifying its product portfolio in order to provide customers with flexible solutions to fit their specific energy needs.