GE invests in three wind projects in India
New Delhi: GE Energy Financial Services, part of conglomerate GE, has undertaken investments in three wind energy projects in India, the company said on Monday.
These wind farms, being constructed by Atria Power, have a combined capacity of 126 MW.
Financial details were not disclosed.
GE Energy Financial Services said it has “invested equity in three Atria Power wind projects under construction in India, supporting GE’s commitment to invest USD 1 billion annually in renewable energy projects worldwide”.
One 25.6 MW project is located in Andhra Pradesh and is expected to start commercial operations in September.
The two other projects — each having 50 MW capacity — are located in Madhya Pradesh. These are anticipated to start generation in December and June 2015, respectively.
“Partnering with Atria Power, a strong and accomplished regional energy player, accelerates our global growth and India wind portfolio,” Raghuveer Kurada, business leader for India and South East Asia at GE Energy Financial Services, said in a statement.
The company is one of the leading investors in wind power, with projects spanning nine countries and a capacity of more than 13 GW in operation or under construction.
GE’s global experience and financial structuring capabilities, among others, complements the company’s strategy to develop low-cost renewable energy projects with maximum energy output, Sunder Raju, Director at Atria Power, said.
The three wind projects would use GE 1.6-87.5 wind turbines to generate 76 MW of the total capacity.
“Additional turbines will be supplied and serviced by another manufacturer to generate 50 MW,” the statement said.