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.
Related News
High Natural Gas Prices Make This The Time To Build Back Better - With Clean Electricity
NEW YORK - Experts are forecasting serious sticker shock from home heating bills this winter. Nearly 60 percent of United States’ households heat their homes with fossil fuels, including natural gas, propane, or heating oil, and these consumers are expected to spend much more this winter because of fuel price increases.
That could greatly burden many families and businesses already operating on thin margins. Yet homes that use electricity for heating and cooking are largely insulated from the pain of volatile fuel markets, and they’re facing dramatically lower price increases as a result.
Projections say cost increases for households could range anywhere…
