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GE Energy Financial Services and Indian-based Greenko Group plc have agreed to invest in a new venture to develop wind energy projects across India.

The GE unit will invest US$ 50 million to support the development of 500MW of wind projects out of Greenko’s planned development of 1GW of wind projects in India. Greenko has committed US$ 65 million for the venture, a newly created subsidiary of Greenko, known as Greenko Wind Project Private Limited. The first project of the venture, the 65MW Ratnagiri wind farm in Maharashtra, is planned for completion in December 2011and will use GE’s 1.6MW turbines. The wind turbines will be assembled at GE’s facility in Pune, India.
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