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Engie will do $1 Billion investment in Indian Solar Industry

Engie will do $1 Billion investment in Indian Solar Industry

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The Indian energy manufacturing companies are experiencing quick revolution and attain its ambitious renewable energy goal of 175 GW by 2022. Engie is one of the biggest overseas financiers in India’s solar energy space, is undertaking better bounds by strengthening its promise to reorganized renewable energy structures for rural India.

The firm presently has about 800 MW of effectiveness scale solar schemes (nearby 330MW in creation) and 280MW of efficacy scale wind. List of the Engie’s plans in India:

  • Mirzapur solar energy plant, Uttar Pradesh, authorized in March 2018, 25-year energy buying contract through Solar Energy Corporation of India (SECI).
  • Kadapa energy plant Andhra Pradesh, 25-year power purchasing contract through the National Thermal Power Corporation Limited (NTPC).
  • Bhadla solar energy plant, Rajasthan, ordered in June 2017.
  • A 30MW wind project in Gujarat presently in production, authorizing estimated in June 2019 and a 25-year power acquisition contract done the Gujarat state distribution company, GUVNL.
  • A 50MW wind plan in the state of Tamil Nadu arranged to be commissioned by 2019.

The company takes step toward the investment deeds in India to express revolution towards green energy. In 2017 the firm said its strategy to spend a minimum of $1bn in the Indian solar energy industry in the next 5 years period of time. Engie has been vigorously aggregating its funds and contributions to upkeep renewable energy initiative in India.

Source: goingsolarr

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Anand Gupta Editor - EQ Int'l Media Network