GE takes India wind farm stakes
GE has taken an equity stake in 126MW of wind capacity under development in India by local group Atria Power.
The US group’s GE Energy Financial Services unit made the investments in a 25.6MW project in Andhra Pradesh and two 50MW developments in Madhya Pradesh.
Of the capacity, 76MW will use GE 1.6-87.5 wind turbines, said a statement, with the other 50MW equipped by an unnamed third-party.
The Andhra Pradesh wind farm is due to enter commercial service in September this year, with the other two following in December 2014 and June 2015.
Details of the investment were not disclosed by GE Energy Financial Services, which said the deal is part of its commitment to invest $1bn annually in renewables projects.
GE made its debut investment in the Indian solar sector in April.
Atria Power – which develops wind, hydro and solar projects in India – will manage construction and operations of the projects.