HYDRABAD(Commodity Online): India's renewable energy sector has attracted more investments from private players.GE Energy Financial Services plans to invest $50 million with Greenko groups for the development of wind energy projects in India and this is GE's first project in India.
'' This investment expands GE’s presence in one of the world’s fastest growing power markets with a local, proven renewable energy developer," said Raghuveer Kurada, Managing Director and leader of India at GE Energy Financial Service, reported Business Line as saying.
Both the groups is to take up the development of wind energy projects upto 500 MW and Greenko groups will invest $ 65 million for the venture and also create a subsidiary named Greenko Wind Projects Private Ltd to manage the project.
Greenko is presently developing a pipeline of wind projects in Maharashtra, Andhra Pradesh, Karnataka and Rajasthan.
India is proving to be an major hub for the renewable energy market. With the private players like Suzlon, Reliance Power, Indian Energy, Tata Power having invested in many renewable energy projects including solar, wind etc.
Greenko Group is one of India's fastest growing Independent Power Producers, focusing on developing clean energy assets in India to meet Indian's ever increasing demand for power.
General Electric Company (NYSE: GE), or GE, is an American multinational conglomerate corporation incorporated in Schenectady, New York and headquartered in Fairfield, Connecticut, United States.The company operates through four segments: Energy, Technology Infrastructure, Capital Finance and Consumer & Industrial.
