GE Acquires GTE Project

GE Energy Financial Services, Stamford, Conn., has acquired a 90 percent interest and limited partnership in the Scholl Canyon Landfill gas project in Glendale, Calif., from the Scholl Canyon Landfill Gas Corp. Terms of the deal were not disclosed.

Scholl will continue to manage and operate the project, which it claims to be among the nation's largest. According to a press release, the project results in a greenhouse gas reduction of 615,000 tons annually.

“This acquisition draws upon our expertise in both renewable energy technology and project finance to help us diversify our renewable energy footprint and achieve our goal of investing $4 billion by 2010 in renewable energy,” said Kevin Walsh, managing director and director of renewable energy at GE Energy Financial Services, in a press release.