Wind energy development venture formed with GE, Greenko

GE Energy Financial Services and India-based Greenko Group Plc formed a venture to invest $115 million in wind energy developments in India.

News reports said GE (NYSE: GE) would invest $50 million to support the development of 500 MW of wind. Greenko reportedly plans to develop 1 GW of wind projects in the country. The first project, the 65 MW Ratnagiri wind farm in Maharashtra, is reportedly planned for completion in December and uses GE’s 1.6 MW turbines.

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