French Energy Giant Engie To Invest 7000 Cr For 2.2 GW Renewable Capacity In India By 2025

ENA Sectors 2024-05-29 13:56:49 New Delhi, May 29 (KNN) The Indian subsidiary of French energy giant Engie plans to double its installed renewable energy capacity in India to approximately 2.2 gigawatts (GW) by 2025, according to company officials. Engie India CEO and Country Manager Amit Jain stated that this expansion represents an additional investment of around Rs 7,000 crore (approximately USD 870 million), reported BL. Engie has been active in India's renewable energy market since 2014 and has thus far invested roughly Rs 8,800 crore (USD 1.1 billion). Its current installed base consists of 800 megawatts (MW) of solar power and 250 MW of wind energy across seven Indian states. The company's upcoming capacity additions include four recently awarded projects totaling 1.05 GW. Construction has already commenced on a 400 MW solar project in Gujarat, while three other projects awarded by NTPC, NHPC, and SECI—with a combined 650 MW capacity—are slated to begin construction in mid to late 2024 upon signing of power purchase agreements. We have 1.25 GW in the pipeline, and we hope to commission them by end-2025 or early-2026, stated Jain. He affirmed Engie India's aim to increase its overall renewable energy base to 5 GW by Engie's global renewable installed capacity currently stands at 41.4 GW across 31 countries, and the group reported revenues of around USD 102 billion in 2023 while employing over 96,000 professionals worldwide. Jain highlighted India's importance in Engie's global strategy, noting the country's target of adding 800 MW of renewable capacity annually, a significant portion of the group's global 6 GW yearly goal. (KNN Bureau) 37979 https://knnindia.co.in/news/newsdetails/sectors/french-energy-giant-engie-to-invest-7000-cr-for-22-gw-renewable-capacity-in-india-by-2025 2024-05-29 13:56:49 knnindia.co.in French Energy Giant Engie To Invest 7000 Cr For 2.2 GW Renewable Capacity In India By 2025