GE Energy Financial Services has acquired 49 percent stake in Continuum Green Energy India’s 148.5 MW Morjar onshore wind project in Gujarat.
Continuum sells renewable energy to power distribution companies, commercial and industrial customers in India.
GE Energy Financial Services has invested in several projects in India, enabling over one gigawatt of renewable energy projects across various states including Madhya Pradesh, Rajasthan, Karnataka, Uttar Pradesh, Maharashtra, Andhra Pradesh and Gujarat.
“Providing a bespoke financing product to a strategic customer strengthens GE’s partnership to continue to deliver accessible, affordable and reliable renewable energy across India to support the country’s decarbonisation and renewable energy targets,” said Gaurav Raniwala, Global Renewable Energy Leader at GE Energy Financial Services.
The Morjar project will be equipped with GE Renewable Energy’s 2.7-132 onshore wind turbines. GE will supply, install and commission 55 units. The 148.5 MW wind energy project is expected to reach full commercial operations in June 2022. Morjar onshore wind farm will provide power to local communities up to the equivalent of 125,000 households in India.