2 Chinese companies to invest $5bn in renewable power sector.

In a boost to PM Narendra Modi's 'Make in India' project, two Chinese companies, Sany Group and Chint Group, said recently that they are looking to invest around $5 billion in the country's renewable power sector. While Sany, one of China's leading manufacturers of construction equipment, has committed around $3 billion in five years for setting up wind turbines, Chint, which specializes in industrial equipment and energy, will invest around $2 billion in solar projects.

Sany said its projects will generate 4.8 terra-watthours (TWh) of green and clean power annually and create 1,000 jobs. 'Narendra Modi's visit to China has bettered Indo-China business ties,' said Sany Group chairman Kiang Wengen.

'This investment is a significant step in deepening our presence and com mitment to India. Green energy industry in India is growing and we see this as a huge opportunity to introduce our wind energy business in the country.'


TOI