Greenko Group plc and GE team up for wind energy projects in India

Greenko Group plc and GE Energy Financial Services today announced plans to form a new venture to develop wind energy projects in India.

While the London-listed Greenko has committed $65 million (around Rs 300 crore) to the new venture, to be known as Greenko Wind Project Private Ltd, the GE unit would invest $50 million (around Rs 235 crore). This would be the first renewable energy investment for GE in India.

The project is expected to contribute 500 Mw out of Greenko’s planned development of 1 giga watt of wind projects in India. The renewable energy company is currently developing wind projects in Maharashtra, Andhra Pradesh, Karnataka and Rajasthan, which the new venture would own.