GM Ventures Invests In Solar Power Developer

General Motors’ equity investment arm, GM Ventures, has announced an investment of $7.5 million in Sunlogics PLC, strengthening GM’s Clean Energy Commitment. The investment will spur the development of solar energy systems and create 310 new jobs.

Some of the investment from GM will be used to establish Sunlogics’ corporate headquarters and open a manufacturing facility in suburban Detroit, and to set up a manufacturing facility in Ontario.

“Global solar energy use is predicted to more than double by 2016, so we believe that investing in renewable energy is a smart and strategic business decision,” said Jon Lauckner, president of GM Ventures. “And the Chevrolet solar charging canopy project complements our electrification strategy that started with the Chevrolet Volt by helping our cars live up to their fullest green potential.”

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The investment is part of GM’s unwavering commitment to renewable energy. Already, the automaker has three of the largest automotive rooftop solar power installations in the United States and the world’s largest rooftop solar installation at its car assembly plant in Zaragoza, Spain. GM is also building a solar field at its Detroit-Hamtramck facility, which builds the Chevrolet Volt extended-range electric car.

“Our GM facilities currently house 30 megawatts of solar power, and we are committing today to double that capacity to 60 megawatts over the next few years, which is equivalent to powering 10,000 homes annually,” said Mike Robinson, GM vice president of Energy, Environment & Safety Policy. “Not only does renewable energy make good business sense, it helps us continue to reduce the impact our facilities have on the environment.”

Via: Chevrolet in the news

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