Wednesday, June 11, 2008

GE Bets on Solar with Majority Primestar Stake

From CNBC:

Solar energy is playing a bigger role in General Electric’s energy portfolio, and GE Energy has announced it is taking a majority stake in PrimeStar Solar.

"As we look at long-term renewables, we believe solar has a very strong role to play, and thin-film technology, we believe, is the best long-term solution for cost-effective solar," said Steve Bolze, vice president of GE Energy.

Bolze says GE’s

General Electric Co

29.83 -0.50 -1.65%

[GE 29.83 -0.50 (-1.65%)] investment in solar power will be similar to its investment in the wind business....MORE