GE Energy Financial Services has invested equity in three wind power projects of Atria Power.
The company did not disclose the details of how much was invested.
The company said in a statement that the investment supports GE’s commitment to invest $1 billion annually in renewable energy projects worldwide.
“The wind farms will have combined capacity of 126 MW and will support the Ministry of New and Renewable Energy’s programme,” the company added in its statement.
Of the three projects, one is located in the Ananthapur district of Andhra Pradesh and while the other two are located in Betul district of Madhya Pradesh.
The project in Andhra Pradesh is a 25.6 MW wind farm to reach commercial operations by September. In Madhya Pradesh, the two projects have a capacity of 50 MW each and are expected to reach commercial operations by December 2014 and June 2015 respectively.
All the three projects will use GE 1.6-87.5 wind turbines, GE said in a statement adding that the turbines will be serviced by GE under a operations and maintenance agreement.
“Additional wind turbines will be supplied and serviced by another manufacturer to generate 50 MW. Atria Power is managing construction and operations,” the statement added.
Kin Advisors was the exclusive advisor to Atria Power on this transaction. Atria Power has a 125-megawatt renewable energy portfolio, and plans for an additional 700-megwatts in wind and solar. These latest farms will help India meet its target of 20 percent energy generation from renewable sources by 2020.