10 Oct '11, 10am

GE ploughs $50m into India's wind energy market

General Electric (GE) has signed a $115m deal to help build 500MW of Indian wind farms, joining the growing list of investors betting on one of the world's fastest growing green energy markets. GE Energy Financial Services today confirmed it has signed a deal with Indian project developer Greenko to construct 500MW of wind farms across the country, the first of which will use GE turbines. FURTHER READING Scottish firms failing to take up green energy subsidies Greece's recession-busting solar plan edges forward The companies have set up a venture dubbed Greenko Wind Project Private Limited (GWPP), to develop Greenko's project pipeline. It will be funded by $65m from Greenko and $50m from GE. The deal is GE's first green energy investment in India and follows hot on the heels of Goldman Sachs ' recent $200m acquisition of a majority stake in Mumbai-based ReNew Wind Power Pv...

Full article: http://www.businessgreen.com/bg/news/2115839/ge-ploughs-u...

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