GE, ConocoPhillips and NRG Energy in JV -WSJ

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Thu Jan 27, 2011 1:39am EST

Jan 27 (Reuters) - General Electric Co (GE.N), is teaming up with ConocoPhillips (COP.N), the third-largest U.S. oil company, and power group NRG Energy Inc (NRG.N) to invest in early-stage energy technology companies, the Wall Street Journal said.

The companies will announce a joint venture, Energy Technology Ventures, to deploy $300 million over the next four years, the Journal said.

The partners declined to say how much each of them is contributing, WSJ said.

This marks ConocoPhilips' and NRG Energy's first formal forays into venture-capital investing, WSJ said.

A call from Reuters to the three companies was not immediately returned. (Reporting by Fareha Khan; Editing by Jon Loades-Carter)

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