29 Apr '14, 1am

Nice one GE. $24 million invested in #India's largest #solar power station

TOKYO -- General Electric Co. is investing $24 million in India’s largest solar-power plant, drawn by what it called the technology’s “incredible potential” in the nation. The investment by GE’s financial services unit in Welspun Energy Ltd.’s 151-megawatt photovoltaic plant is the U.S. company’s first in the local solar industry. GE said this week that it plans to invest more than $1 billion a year globally in renewable projects that promise “very significant returns.” “India has gained incredible potential for the development of solar power ,” Raghuveer Kurada, business leader for India and South East Asia at GE Energy Financial Services, said in a statement. “Our investment in Welspun Renewables’ solar project helps to realize that potential.” India, which had virtually no solar power three years ago, plans to draw $11.7 billion of investment by 2017 to expand capacity ...

Full article: http://www.renewableenergyworld.com/rea/news/article/2014...

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