Engie wins solar energy project bids for 140 MW.

Through its subsidiary Solairedirect, Engie has bagged 140 MW solar energy projects that comprise two units of 70 MW each, located at two sites in Rajasthan.

The offer was (Rs. 4.35/kWh, or approximately USD64/MWh, that was more than 40% lower than the winning bid for India's first call for tender for years earlier.

Through Solairedirect, Engie has announced its pioneering role in solar power in India and has reaffirmed its objective of building 2 GW of photovoltaic projects in the country between 2015 and 2019. The Group has relied on the local team based in Pune, as well as its global network and industrial experience recognized for developing, operating and investing in solar power plants throughout the world.

This announcement coincided with the official visit to India of French President Francois Hollande. The event of unveiling of the site for headquarters of International Solar Alliance (ISA) was done by Prime Minister Narendra Modi place in the presence of Francois Hollande and Gerard Mestrallet, Chairman and CEO of Engie, representing the Terrawatt Initiative.

This global non-profit association will work together with ISA and its member states in establishing proper regulatory conditions for a massive deployment of competitive solar generation. To do so, the Terrawatt Initiative calls for 1 terawatt (1,000 gigawatts) of additional solar power capacity by 2030, representing an additional $1 trillion in investments to finance solar power infrastructure located in three Indian states - Rajasthan, Telangana and Punjab.

BS