GE Energy Financial Services (EFS), an arm of GE, has acquired 49 per cent stake in Continuum Green Energy (India) Private Limited’s 148.5 MW Morjar onshore wind project in Gujarat.
Continuum will continue to own the remaining 51 per cent in the project. The project will be equipped with GE Renewable Energy’s 2.7-132 onshore wind turbines. GE will supply, install and commission 55 units. The project is expected to reach full commercial operations by the end of June 2022. This transaction marks GE EFS’ first onshore wind equity investment in the state of Gujarat through a structured preferred equity solution.