General Electric Stepping Up Its Presence in Renewable Energy Projects in India

The financial arm of the US-based General Electric Co. (GE) is hoping to step up its presence in India by infusing equity into renewable energy projects in India and help lenders in Europe strike project financing deals with Indian clean energy firms looking for low-cost capital. GE already has a 67-acre manufacturing plant in Pune where it produces wind turbines and other equipment. It has acquired Alstom SA’s power business in November and is hoping that this will help step up its presence in India with an enhanced product list. This acquisition has made GE’s renewable energy business bigger and more diversified. Renewables have now become the mainstream source of energy and GE is keen to participate in these projects in India. GE Energy Financial Services can help projects tie up finance and also provide support to projects by contributing equity. The renewable energy business of GE and Alstom are looked after by GE Renewable Energy.

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