Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.

 

Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.

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GE Renewable Energy bags ReNew order for 300 MW wind turbines

GE-Renewable-Energy-bags-ReNew-order-for-300-MW-wind-turbines

US major GE Renewable Energy has been selected by Indian clean energy firm ReNew Power to provide 120 GE 2.5-132 turbines for the Gadhsisa Wind Farm in Gujarat, according to a statement

A company statement stated that the wind farm with a proposed installed capacity of 300 MW will be the largest full turnkey project by GE Renewable Energy in India. The project will power the equivalent of 15,000 homes in India with clean and reliable electricity. 

“ReNew Power successfully bid for this project in the third round of auctions conducted by the Solar Energy Corporation of India in February,” it said. 

“The 2.5-132 turbines have been designed primarily at GE’s technology centre in Bengaluru, and built on learnings from more than 22,000 GE wind turbines around the world. 

“This turbine is a significant improvement over previous versions, with improved rotor diameter, wind capture and 30 per cent more Annual Energy Production (AEP) than GE’s 2.3-116 turbine.” 

GE’s current footprint in India expands across 37 wind farms, and has 1.8 gigawatt (GW) of capacity across the country, it also added. 

Commenting on the development, Mahesh Palashikar, Region Leader for GE Renewable Energy’s Onshore Wind business in Asia, said in the statement: “This is an important milestone for GE in India and this relationship with ReNew will help us expand our turnkey capabilities across Asia.” 

According to the statement, GE has also recently introduced its 2.7 MW low windspeed machine turbine, including the largest-ever rotor installed in India, which is currently being tested in Gujarat. 

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