Conergy & GE Form First Asia-Pacific Renewable Energy Trust, Target Set At $250M

• Epuron, a subsidiary of Conergy, as well as GE Energy Financial Services have joined together to launch the first Asian-Pacific renewable energy private trust.  The name of the project is appropriately titled, The Renewable Energy Trust Asia (or RETA for short).
• GE’s one of the largest wind turbine producers in the world, not to mention their above average involvement in various other cleantech arenas.  Conergy, on the other hand, produces solar products, most notably, photovoltaic solar modules while Epuron develops large-scale solar and biomass projects.
• Investments into the trust will help develop growth in wind, solar, small hydroelectric, biogas, and biomass power with hopes of achieving $250 million in investments and around 200 Megawatts of power within the next five years.
• As anchor investor in the project, GE will own 80% stake, while Epuron holds 20.  GE obviously sees the future potential of investments like these, as they’ve already put forth $4 Billion into renewables to date.  Both companies project the renewable energy opportunity in India, South Korea, and ASEAN nations (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam) to near $7 Billion a year.
• Epuron’s list of responsibilities include sourcing projects, debt financing, project development, and acquisition of hardware.  Then, once the projects are completed, Epuron manages them.
• Sounds like a great deal for GE.

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