GE's energy investment arm has taken an equity stake in a 126MW portfolio of Indian wind projects.
GE Energy Financial Services has partnered with local developer Atria Power by investing in three of its projects for an undisclosed sum.
The investment builds on GE's commitment to invest $1 billion in renewables annually. GE Energy Financial Services is one of the world's biggest investors in wind power, with a portfolio of projects totalling more than 13GW in operation or under construction.
The first of the three projects, in the Ananthapur district of Andhra Pradesh, will generate some 25.6MW of power and is expected to start operating commercially in September.
The other two projects will each generate some 50MW of power and are located in Betul district of Madhya Pradesh. They are expected to reach commercial operations in December and June 2015 respectively.
Off-take arrangements for the projects have not yet been finalized.
GE wind turbines, serviced by GE under an operations and maintenance agreement, will generate 76MW of the total capacity, with turbines that account for the remaining 50MW coming from "another manufacturer".
Atria has a 125MW renewables portfolio, including wind, concentrating solar and small hydro, and plans an additional 700MW in wind and solar.
Earlier this year, GE made its first move into solar generation in India, teaming up with developer Welspun Renewables on a 151MW project, whcih it claimed was one of the largest solar developments in the world.
Peter Cripps
