GE Energy Financial Services has invested equity in three wind projects that are under construction by Atria Power in India, as part of its aims to invest at least $1bn annually in renewable energy projects worldwide.
The wind farms, which will have a combined capacity of 126MW, will support the Indian Ministry of New and Renewable Energy's programme to generate competitively priced grid-interactive wind power through feed-in tariffs.
The 25.6MW first project is located in Ananthapur district of Andhra Pradesh and is slated to reach commercial operations in September 2014.
The other two projects, each with 50MW capacity, are located in the Betul district of Madhya Pradesh, and scheduled to reach commercial operations in December and June 2015 respectively.
Atria Power director Sunder Raju said: "GE's global experience, financial structuring capabilities and commitment to advanced technology complements our strategy to develop low-cost renewable energy projects with maximum energy output."
GE Energy Financial Services India and South-East Asia business leader Raghuveer Kurada said: "Partnering with Atria Power, a strong and accomplished regional energy player, accelerates our global growth and India wind portfolio."
The projects will use GE 1.6-87.5 wind turbines and will be serviced by GE under an operations and maintenance agreement, to generate 76MW of the total capacity.
Another manufacturer will supply and provide service for additional turbines for the projects to generate 50MW.
Atria Power is managing construction and operations while the projects' off-take arrangements have not yet been finalised.
Image: The 25.6MW Atria Power wind farm. Photo: ©2014 General Electric Company.