Greenko formalises supply agreement with GE Energy

Dec 8, 2011 - Indian green energy company Greenko (LON:GKO) said today it had formalised its deal with GE Energy, a unit of US conglomerate General Electric (NYSE:GE), for the provision and installation of additional wind turbines.

Under the agreement, 200 of GE's 1.6-82.5 generators will be supplied and commissioned over the next three years, on top of the 65 MW currently under construction.

Greenko said that the formalised agreement replaced the memorandum of understanding struck with GE on the framework agreement in May 2011.

In October, GE unit GE Energy Financial Services agreed to invest USD 50 million (EUR 37m) in a new unit of Greenko that will develop 500 MW of wind energy projects, out of Greenko's 1 GW of planned wind projects in India.

(USD 1.0 = EUR 0.746)

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