Engie Plans to Double Renewable Energy Capacity in India to 2.2 GW by 2025

Engie, the France-based clean energy solutions giant, plans to double its renewable energy (RE) installed capacity in India to approximately 2.2 gigawatts (GW) by 2025. This expansion in the world’s fourth-largest renewables market involves an investment of around $870 million (₹7,000 crore).

Engie has been active in India since 2014, investing about $1.1 billion to date. Its current RE installed base is 1.1 GW, comprising 800 megawatts (MW) of solar power and 250 MW of wind energy across seven states.

"We are building four new projects, including a 400 MW project in Gujarat that we started last year," Engie India CEO and Country Manager Amit Jain told businessline. The other projects include NTPC (300 MW), NHPC (250 MW), and SECI (100 MW), totaling 650 MW. These projects are expected to begin construction by mid to late 2024, pending power purchase agreement (PPA) signings.

Engie aims to commission these projects by late 2025 or early 2026, effectively doubling its capacity from 1.1 GW to around 2.2 GW. The Pune-headquartered company also has plans to expand its base to 5 GW by 2030. Engie's global operations span 31 countries with an installed renewables base of 41.4 GW, generating revenues of about $102 billion in 2023.

India plays a significant role in Engie's global strategy, with Engie India targeting an addition of around 800 MW RE capacity annually. "Globally, our target is 6 GW every year till 2030, making India's contribution of 800 MW a significant part of our expansion," Jain emphasized.

HBL