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.

ENERGY TOP STORIES

GE Renewable Energy nabs the largest EPC project in India

GE-Renewable-Energy-bags-largest-EPC-project-in-India

The wind farm will have a total installed capacity of 300 MW, making it the largest full turnkey EPC project by GE Renewable Energy in India

The company announced that is has been selected by ReNew Power, the country’s largest renewable energy Independent Power Producer (IPP), to provide 120 GE 2.5-132 turbines for the Gadhsisa Wind Farm in Gujarat.

The wind farm will have a total installed capacity of 300MW, making it the largest full turnkey Engineering, Procurement and Construction (EPC) project by GE Renewable Energy in India.

The company stated that the project will power the equivalent of 11 lakh homes with clean and reliable electricity. ReNew Power had successfully bid for this project in the third round of auctions conducted by Solar Energy Corporation of India (SECI) in February 2018.

“GE’s 2.5-132 wind turbine was designed in India specifically for India’s low wind speed conditions, lowering the cost of wind energy compared to similar turbines. We are excited to bring this wind turbine, as well as other new turbines such as the 2.7, to the India region,” stated Mahesh Palashikar, Region Leader for GE Renewable Energy’s Onshore Wind business in Asia.

The 2.5-132 turbines have been designed primarily at GE’s Technology Centre in Bangalore. The turbines are a significant improvement over previous version, with improved rotor diameter, wind capture and 30% more Annual Energy Production than GE’s 2.3-116 turbine.

“GE Renewable Energy, with its customized maintenance support and suite of modern turbines driven by cutting edge technology was a natural choice as our partner for this critical project,” stated Balram Mehta, President – Wind, ReNew Power Ltd. As part of the contract, GE will also maintain the facility, which is due to be commissioned by end 2019, for a period of 10 years.

Currently, GE India manufactures its wind turbines for the India market at its manufacturing facility in Pune.

Leave a Comment