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Yesterday, it was reported that General Electric (hereinafter referred to as “GE”) will double its investment in renewable energy by 2010, to $6 billion. However, the PR department of GE (China) Co., Ltd. told Yicai Daily yesterday that it is unable to comment on this at present. This figure is roughly consistent with what John Rice, GE’s second-in-command – the company’s vice chairman and president and CEO of the Infrastructure Group – said in an interview with Yicai Daily, namely that the company is indeed planning to increase its investment in new energy. He said that the industries he is optimistic about include new energy storage technologies, future solar technologies, as well as new energy sectors such as coal gasification and energy efficiency services. In 2004, GE restructured its business operations, reducing the number of business units from 11 to 6; the departments responsible for the company’s energy-related activities were all consolidated under the GE Infrastructure Group. John Rice once told Yicai Daily that the growth rate of GE’s other business units in China was around 15%, while the growth rate of the Infrastructure Group was between 25% and 30%. This business segment includes some of GE’s most profitable divisions such as aviation and energy, as well as transportation systems and water treatment. GE’s water business is worth around $2 billion to $3 billion, with a current growth rate of about 15%; there is significant potential for further development in this area. According to relevant reports, GE’s financial subsidiaries believe that within two years, alternative energy sources such as wind and solar power will account for nearly a quarter of their total investment in energy and water projects, compared to 10% in 2006. GE is currently one of the top five manufacturers of wind turbine engines in the world. John Rice said, “Wind and solar energy are not inexhaustible, so storage technologies are needed. If this market develops, it can greatly promote the growth of new energy sources.” ”Another energy efficiency technology related to new energy in which GE is involved is coal gasification technology. Rice said it might take 3 to 4 years, by 2012, for this technology to generate revenues of over $1 billion.