GE unit invests in 126 MW of wind capacity in India

Jul 28, 2014 - GE Energy Financial Services has invested an undisclosed sum in three wind projects in India with a total capacity of 126 MW, its parent, US conglomerate General Electric (NYSE:GE), said today.

In particular, the GE unit has invested equity in a 25.6-MW wind scheme in Andhra Pradesh as well as in two 50-MW projects in Madhya Pradesh, all developed by Atria Power. The smaller wind park is expected to begin commercial operations in September. The other two are to go live in December 2014 and June 2015, respectively.

The investment supports GE's commitment to pour USD 1 billion (EUR 0.744) a year into renewable energy projects on a global basis, the company said.

GE will supply 76 MW of wind turbines for the Atria projects, while the other 50 MW will come from another manufacturer. The company noted that no power off-take arrangements have been finalised yet with regard to the schemes.

Atria Power's current renewables portfolio amounts to 125 MW. The company has plans for 700 MW of additional wind and solar projects.

(USD 1.0 = EUR 0.744)

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