Engie And Abraaj JV Eyeing $1 Billion Wind Power Investment In India

Engie And Abraaj JV Eyeing $1 Billion Wind Power Investment In India

A joint venture (JV) of French energy firm Engie SA and Dubai-based private equity firm Abraaj Group may invest around $1 billion to build a 1,000 megawatt (MW) wind power platform in India.

The strategy ahead for the JV announced last week involves bidding for new contracts and making acquisitions to reach the targeted capacity.

“That’s the scale of the total investment cost,” said Malcolm Wrigley, country manager, India, for Engie in an interview.

The capital expenditure planned in equity and debt comes in the backdrop of India’s wind sector transitioning from a feed-in tariff regime to tariff-based competitive auctions. Read More…

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