GE arm buys 49% stake in Continuum's Morjar project for $30-M

GE Energy Financial Services, an arm of GE, has acquired 49% stake in Continuum Green Energy's 148.5 megawatt Morjar onshore wind project in Gujarat at an estimated deal size of around USD 30 million. Continuum, majority-owned by a global infrastructure fund managed by Morgan Stanley Infrastructure Inc, continues to own 51% in the project. The transaction marks GE EFS' first onshore wind equity investment in Gujarat through structured preferred equity. The Morjar project will be equipped with GE Renewable Energy's 2.7-132 onshore wind turbines. GE will supply, install and commission 55 units. The 148.5 MW project is expected to reach full commercial operations in June 2022.