Bloomberg

General Electric Co. (GE) is investing $24 million in India’s largest solar-power plant, drawn by what it called the technology’s “incredible potential” in the nation.

The investment by GE’s financial services unit in Welspun Energy Ltd.’s 151-megawatt photovoltaic plant is the U.S. company’s first in the local solar industry. GE said this week that it plans to invest more than $1 billion a year globally in renewable projects that promise “very significant returns.”