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GE sells off “awkward child” solar developer to BlackRock

Everyone has reported that GE and multi $trillion investor BlackRock are planning to partner to create a solar industry developer. The overuse of the word “powerhouse” was evident in most coverage. It will target US businesses only, it will not be global and it is simply a management buyout, dressed up as a merger of minds. No powerhouse here, move away. This is GE contributing its solar energy arm into a Blackrock funded business. Think of this as GE getting out of solar, not GE inviting a big investment name into its solar business. The company will be renamed Distributed Solar Development (DSD), and it will design, build, own and operate distributed solar and storage systems for industrial customers and…

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