GE is to invest $31m to support the development of a 200MW wind farm in south-eastern India.
Guayama PR Holdings, a GE-owned investment company, will buy up to 49% of the project company owned by Mytrah Energy, the Indian developer said.
The facility will be located in the state of Andhra Pradesh, the company said without giving more details.
Mytrah currently operates 877.9MW of wind capacity across India and has a development pipeline of about 3GW.
“Attracting investment from GE is a huge endorsement of Mytrah’s operations and its growing position in India’s power market, and we are delighted to have successfully completed this fund raising,” Mytrah Energy chief executive Ravi Kailas said.
“With the Company on track to reach 1GW operating capacity by mid-2017, these new funds will help to maintain positive momentum as we enter the next development stage and support the construction of a major power project.”
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GE takes 200MW India stake
$31m deal agreed with Mytrah Energy to acquire 49% share in wind farm
By EBS