GE Energy Financial Services, in partnership with Greenko Group, has created a new venture to develop 1GW of wind energy projects across India.
Greenko has committed $65m to the venture, named Greenko Wind Project Private, while GE will invest $50m to support the development of 500MW of wind projects
Greenko is developing a pipeline of wind projects in the Indian states of Maharashtra, Andhra Pradesh, Karnataka and Rajasthan, which the new venture will own.
Once operational, the venture's wind portfolio could power 875,000 average households and reduce greenhouse gas emissions by 700,000t/year
The venture's first project, the 65MW Ratnagiri wind farm in Maharashtra, is expected to be completed in December and will use GE's 1.6-megawatt turbines.