General Electric Energy Financial Services, a Connecticut-headquartered division of GE Capital, has acquired 49% equity stake in Continuum Green Energy’s 148.5 MW onshore wind project at Morjar, Gujarat. GE’s investment amount remains undisclosed, though press sources have estimated it to be approximately UD$ 30 million.
GE will also supply, install and commission 55 units of GE Renewable Energy’s 2.7-132 (2.7MW, 132m rotor) onshore wind turbines at the Morjar project. This onshore wind project is expected to reach full operational capacity in June 2022. Continuum Green Energy, which will own majority stake in the project, is funded and managed by Morgan Stanley Infrastructure Inc.