Fresh on the heels of its $10 billion Ecomagination investment into large-scale natural gas energy technologies, General Electric has announced a $1.4 billion, four-year plan to push into a new natural gas frontier: distributed power.
That’s the name that GE has given to its new business unit, aimed at creating new on-site power systems for a global customer base. It’s also released a white paper, “The Rise of Distributed Power,” that lays out the business case for a new approach to engineering, financing and maintaining a fleet of distributed, gas-fired gear.
GE’s announcement, made in the Indonesian capitol city of Jakarta, seems aimed primarily at parts of the world that lack grid electricity. Lorraine Bolsinger, president and CEO of the Distributed Power business unit, noted in Tuesday’s release that more than 1.3 billion people around the world don’t have access to reliable power today.
But as GE’s white paper notes, the distributed power revolution is overtaking industrialized countries as well as developing ones. Solar PV, which has beengrowing by leaps and bounds, represents the green power side of this equation, and Greentech Media has been closely watching the ways in which this exponential growth has been disrupting traditional energy utility business models and planning paradigms.