Engie Using Inorganic Route To Grow In India

Engie, one of the largest foreign investors in India’s solar space, is undertaking bigger leaps by reinforcing its commitment to decentralized renewable energy systems for rural India.

The company currently has around 800 megawatts (MW) of utility-scale solar projects (around 330MW under construction) and 280MW of utility-scale wind (all committed in final development or construction). Below is the list of the Engie’s projects in India:

  • Mirzapur solar power plant (101MWp), Uttar Pradesh, commissioned in March 2018, 25-year power purchase agreement with Solar Energy Corporation of India (SECI).
  • Kadapa power plant (338MWp), Andhra Pradesh, 25-year power purchase agreement with the National Thermal Power Corporation Limited (NTPC).
  • Bhadla solar power plant (190MWp), Rajasthan, commissioned in June 2017.
  • A 30MW wind project in Gujarat currently under construction, with commissioning expected in June 2019 and a 25-year power purchase agreement with the Gujarat state distribution company, GUVNL.
  • A 50MW wind project in the state of Tamil Nadu, scheduled to be commissioned before the end of 2019.

It plans to invest a minimum of $1bn in the Indian solar market during the next five years.

Engie has been successful in expanding its footprints in India through inorganic means. Solaire Direct, a subsidiary of Engie, has positioned the company as a leading player in the Indian solar energy market.

This is a Syndicate News-Feed