GE, Abu Dhabi fund strike global partnership
NEW YORK, NEW YORK - General Electric Co. and an Abu Dhabi-based sovereign fund have agreed to a global partnership that includes a commercial finance business, research center for clean energy and water, and plans to expand GE's aircraft engine service and repair in the Middle East.
GE and Mubadala Development Co. plan to each allocate $4-billion (US) in equity to the commercial finance venture over three years.
Mubadala is a sovereign fund based in Abu Dhabi, the capital of the United Arab Emirates.
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Africa's Electricity Unlikely To Go Green This Decade
LONDON - New research today from the University of Oxford predicts that total electricity generation across the African continent will double by 2030, with fossil fuels continuing to dominate the energy mix posing potential risk to global climate change commitments.
The study, published in Nature Energy, uses a state-of-the art machine-learning technique to analyse the pipeline of more than 2,500 currently-planned power plants and their chances of being successfully commissioned. It shows the share of non-hydro renewables in African electricity generation is likely to remain below 10% in 2030, although this varies by region.
'Africa's electricity demand is set to increase significantly…
