General Electric invests in wind power in India as part of $1bn clean energy drive

General Electric (GE), the infrastructure, finance and media giant, will invest in three wind power projects in India as part of its $1 billion (£591m) pledge to expand its renewable energy portfolio.

GE has partnered with Atria Power and is aiming for the three projects to produce a combined annual capacity of 126 megawatt (MW).

The sites include a 25.6 MW project in the Ananthapur district of Andhra Pradesh, located on India’s south eastern coast line.

Another site – at Betul district of Madhya Pradesh – will feature two projects, both with a 50 MW capacity.

Raghuveer Kurada, business leader for India and South East Asia at GE Energy Financial Services, said: “Partnering with Atria Power, a strong and accomplished regional energy player, accelerates our global growth and India wind portfolio.”

Sunder Raju, Director at Atria Power, said: “GE’s global experience, financial structuring capabilities and commitment to advanced technology complements our strategy to develop low-cost renewable energy projects with maximum energy output.”

India is quickly becoming one of the most popular international markets for investment in renewable energy projects and the government announced plans last week to finance a raft of clean energy projects by doubling the tax on coal.

India experiences on average 300 sunny days a year and the potential for solar power generation in the country is recognised as being enormous.

The newly elected prime minister Narendra Modi has also pledged to supply the 400 million Indian households currently living without electricity with solar power by 2019.

India launched the Jawaharlal Nehru National Solar Mission (JNNSM) in 2010 and set an ambitious target of installing 10,000MW of solar power by 2017 and 20,000MW by 2022.

GE is also set to invest in 76 MW worth of wind turbines in the country.