May 17, 2020

GE Looks to Double Revenue in China by 2014

GE
general
Electric
Co.
Admin
2 min
GE pulled in $5 billion in revenue in 2010, but the company says for a market that size that number should be double
Theres no arguing that China has one of the biggest consumer bases in the world, and General Electric Co. (GE), is looking to turn over some hefty rev...

 

There’s no arguing that China has one of the biggest consumer bases in the world, and General Electric Co. (GE), is looking to turn over some hefty revenues in China in coming years.  The company’s president in China, Mark Hutchinson, says the $5 billion in revenue GE made in China in 2010 is too low for a market of that size, and is looking to increase revenue dramatically by 2014.

“It should be a lot bigger,” says Hutchinson.  “My job is to work with the team and with our partners to grow that. We are going to double our business in China, including revenue, over the next three years.”

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GE China’s major business segments include: aviation, healthcare, energy, and transportation.  GE Healthcare, for example, was established in China in 1979 and has grown to seven global manufacturing sites with over 4,500 employees.

According to Hutchinson, GE is looking to partner with more Chinese firms in various market segments through the formation of more joint ventures.

“When people ask me whether GE is afraid of the risk of Chinese partners becoming competitors, I say that competition is a good thing,” notes Hutchinson.  “It helps us get better. On the other hand, if we team up together, we can grow together. It is going to be a win-win partnership.”

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Apr 20, 2021

Amazon's renewable energy projects surpass 200 milestone

Amazon
Renewables
Solar
Netzero
Dominic Ellis
2 min
Nine new projects announced today takes Amazon's renewables portfolio beyond 200 projects

Amazon claims it is now Europe's largest corporate buyer of renewable energy as its projects surpassed 200 globally.

Broken down, it has 136 solar rooftops on facilities and stores and 71 utility-scale wind and solar projects, nine of which were announced today covering the US, Canada, Spain, Sweden and UK. They include:

First solar project paired with energy storage Based in California’s Imperial Valley, Amazon’s first solar project paired with energy storage allows the company to align solar generation with the greatest demand. The project generates 100MW of solar energy, and includes 70MW storage.

First renewable project in Canada An 80 MW solar project in the County of Newell in Alberta. Once complete, it will produce over 195,000MWh of renewable energy to the grid.

Largest corporate renewable energy project in the UK Amazon’s newest project in the UK is a 350MW wind farm off the coast of Scotland and is Amazon’s largest in the country. It is also the largest corporate renewable energy deal announced by any company in the UK to date.

New projects in the US Amazon’s first renewable energy project in Oklahoma is a 118 MW wind project located in Murray County. Amazon is also building new solar projects in Ohio’s Allen, Auglaize, and Licking counties. Together, these Ohio projects will account for more than 400MW of new energy procurement in the state.

Additional investments in Spain and Sweden In Spain, Amazon’s newest solar projects are located in Extremadura and Andalucia, and together add more than 170 MW to the grid. Amazon’s newest project in Sweden is a 258 MW onshore wind project located in Northern Sweden.

It now has more than 2.5 GW of renewable energy capacity, enough to power more than two million European homes a year, and aims to power all its activities with renewables by 2025 and net zero by 2040.

Amazon and Global Optimism co-founded The Climate Pledge in 2019, a commit ment to reach the Paris Agreement 10 years early and be net-zero carbon by 2040. The pledge now has 53 signatories, including IBM, Unilever, Verizon, Siemens, Microsoft, and Best Buy.

A map of all of Amazon’s renewable energy projects around the world can be found here.

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