GE Energy has underscored its interest in the renewable energy sector by increasing its equity share in PrimeStar Solar, Inc., an emerging solar thin film technology and manufacturing company.
PrimeStar Solar was formed in 2006 to develop and commercialise cadmium telluride (CdTe) thin film photovoltaic modules. GE made an initial investment in the company in September 2007 and says that this latest move will boost its renewable energy technology portfolio.
“Increasing our stake in PrimeStar Solar to a majority interest underscores our continuing commitment to solar energy. GE Energy believes that renewable resources, including wind and solar, will play an ever increasing role in the future of the global energy industry,” said Victor Abate, vice president of renewables, GE Energy.
GE says that it is expecting solar energy to play an increasing role in its renewable energy portfolio, which also consists of wind and biomass technologies. The company is now the leading supplier of wind turbines in the USA.
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