Home India China’s Sany Group plans $3 b investment in renewables

China’s Sany Group plans $3 b investment in renewables


Chinese construction equipment maker Sany Group has pledged to invest $3 billion (about Rs. 20,000 crore) in building 2GW of green energy units in India over the next 5-6 years, a move which is expected to aid government’s efforts to achieve its goals in the clean energy sector.The group recently announced the signing and handover of green energy commitment to Prime Minister Narendra Modi towards development of 2,000 mega watt of renewable energy projects with investments of $3 billion for the period 2016-20. Besides generating 4.8 TWh of green and clean power annually these projects will generate 1,000 Jobs and prevent carbon emissions of around 3.6 million tons per year, according to a company statement.

Sany will establish efficient technologies for off-shore wind power generation. It will also bring in its relevant expertise, operational excellence and global best practices for development of green energy projects in India.“This investment is a significant step in deepening Sany Group’s presence and commitment 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. We have invested in a potential market like India, and are excited about the future growth & potential for future investment. We believe that the agreement signing with Indian new energy enterprise will boost the mutual cooperation to a new height,” Liang Wengen, chairman, Sany Group, said.

Sany Group entered India market in 2002 and established a manufacturing plant in 2009 in Chakan, Pune. In India, the company operates in excavator, cranes, concrete machinery, port machinery, road and renewable energy businesses. It employs 269 people in the country.“We are keen on seeing China investing more in India, especially in the manufacturing sector and partnering with India to make India a world class manufacturing base for production. This initiative is yet another step towards the ‘Make in India’ drive launched by our Prime Minister,” said Amitabh Kant, Secretary, Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry.Sany Group will launch in-depth cooperation with Indian enterprises in various industries including comprehensive use of new energy and infrastructure construction, and expand its business scopes in India, added the statement.

Source: TH


Anand Gupta Editor - EQ Int'l Media Network


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