With $85.2 Trillion required to achieve the 2050 Net Zero Scenario*, our mission is to connect capital to energy infrastructure projects.
GE Vernova's Financial Services business provides financial solutions to meet the world's capital-intensive energy needs. We support customers and projects utilizing GE Vernova equipment and services with a wide range of investing and structuring solutions from development, construction and operations. We provide a tailored, structured packaged solution and we bring to each project the expertise and experience of a business that focuses on power and renewable energy generation.
Our joint development support includes early-stage and pre-construction funding to get projects off the ground. This can include feasibility studies, environmental impact assessments, securing land rights, permitting, and regulatory approvals. Financial Services may support co-development on a project-by-project basis or by backing a development platform.
Our balance sheet investments support financing during the construction and operation phases of a project. These can be highly structured transactions in order to manage risks and generate returns, typically through a combination of tax equity, preferred equity and common equity. Of Financial Services' total capital deployed in 2022, approximately 85% was invested into tax equity; over the last five years, an average of 55% of capital deployed was invested into tax equity.
We provide access to large pools of capital from both public and private sectors for all stages of a project's life cycle. This can include helping to secure capital from export credit agencies, development finance institutions, banks, private equity, institutional investors, and strategic investors.