GENERAL ELECTRIC COMPANY

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General Electric : GE Renewable Energy and Continuum Green Energy sign another critical wind power project in India

01/13/2022 | 03:41am EDT
  • GE Renewable Energy will supply, install and commission 37 units of its 2.7-132 onshore wind turbines to Continuum.
  • The turbines will power Continuum's 99.9 MW Rajkot wind power project in Gujrat, India.
  • This order is GE Renewable Energy's latest in India, which recorded 1.2 GW+ orders in 2021.
  • The Rajkot wind farm will power various industries and commercial establishments in Gujrat, India.

New Delhi, India - Jan 13, 2022 - GE Renewable Energy announced today an order from Continuum Trinethra Renewables Pvt Ltd (a subsidiary of Continuum Green Energy) to supply, install and commission 37 units of its 2.7-132 onshore wind turbines for the 99.9 MW Rajkot wind farm in Gujarat, India. Last year, GE and Continuum signed an agreement to supply turbines to the 148.5 MW Morjar, Bhuj wind farm in Gujarat, India.

The Rajkot wind farm, which is being managed by Continuum, will provide local businesses and consumers with accessible, affordable, and reliable energy. Continuum is a leading player in offering customized green energy supply solutions with currently 639 MW tied in with up to 130 customers across India out of its total capacity of 1300 MW.

Deepak Maloo, Regional Sales Leader for GE Renewable Energy's Onshore Wind International in Asia Pacific said: "We are thrilled to build on our relationship with Continuum in contributing towards meeting India's renewable energy targets. We would like to thank Continuum for its trust and look forward to furthering our partnership as they continue to expand their renewable energy portfolio. GE Renewable Energy secured over 1.2 GW+ orders in India last year, making it the largest wind turbine original equipment manufacturer (OEM) supplier in India."

Arvind Bansal, CEO for Continuum Green Energy said: "Continuum Green Energy is committed to contributing to the climate-friendly energy transition in India. We are proud to partner with GE to accelerate our efforts to bring more renewable energy to the grid. Synergies in Continuum's development capabilities and GE's capabilities in manufacturing and delivering turbines on time will bring great value to our projects."

GE's 2.7-132 wind turbine has proven to be the technology of choice for many customers in India due to its industry leading performance at India's low wind speeds. The project will leverage GE's significant local footprint in India with product design taking place primarily at GE's Technology Center in Bengaluru, blades manufactured in GE's plants in Vadodara and assembly at the GE Multi-modal Manufacturing Facility in Pune.

GE Renewable Energy is committed to enabling the energy transition by supporting the work of its customers. As part of that responsibility, the business is focused on supplying and maintaining a global fleet of renewable energy assets, helping reduce the cost of renewable energy, ensuring grid resiliency, efficiency, and reliability, and making renewable energy function in a more dispatchable fashion. GE Renewable Energy also supports the energy transition by pursuing a strategy that reflects a commitment to sustainable, circular design.

(*Based upon India's per capita energy consumption as of 2020: 1208 kWh)

###

About GE Renewable Energy
GE Renewable Energy is a $16 billion business which combines one of the broadest portfolios in the renewable energy industry to provide end-to-end solutions for our customers demanding reliable and affordable green power. Combining onshore and offshore wind, blades, hydro, storage, utility-scale solar, and grid solutions as well as hybrid renewables and digital services offerings, GE Renewable Energy has installed more than 400+ gigawatts of clean renewable energy and equipped more than 90 percent of utilities worldwide with its grid solutions. With nearly 40,000 employees present in more than 80 countries, GE Renewable Energy creates value for customers seeking to power the world with affordable, reliable and sustainable green electrons.
Follow us at www.ge.com/renewableenergy, on www.twitter.com/GErenewables or on www.linkedin.com/company/gerenewableenergy.

About Continuum Green Energy
Continuum (www.continuumenergy.in) is an India-focused renewable energy platform with 1+ GW of operating and under-construction capacity. Continuum is majority-owned by a global infrastructure fund managed by Morgan Stanley Infrastructure Partners.

For media inquiries, please contact:

Antoine Balas
Onshore Wind International, Communications Leader
GE Renewable Energy
+33 6 89 69 41 10
[email protected]Anshul Madaan
External Communications, Asia Pacific
GE Renewable Energy
+91 877880468
[email protected] business unit

Disclaimer

GE - General Electric Company published this content on 13 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2022 08:40:05 UTC.


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Sales 2022 76 201 M - -
Net income 2022 2 027 M - -
Net Debt 2022 15 526 M - -
P/E ratio 2022 42,6x
Yield 2022 0,47%
Capitalization 82 825 M 82 825 M -
EV / Sales 2022 1,29x
EV / Sales 2023 1,14x
Nbr of Employees 168 000
Free-Float 74,2%
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H. Lawrence Culp Chairman & Chief Executive Officer
Carolina Dybeck-Happe Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
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Francisco D'Souza Independent Director
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