French company Engie likely to invest Rs 6,500 crore in solar energy in India

French company Engie likely to invest Rs 6,500 crore in solar energy in India

Engie, the French power giant with a global installed capacity of 115.3 gigawatts across all forms of energy, expects to invest a minimum of $1 billion (about 6,500 crore) in the solar segment in India over the next five years.

“$1 billion is the bare minimum,” said chief executive Isabelle Kocher said. “We intend to win 400 MW a year, which means an investment of almost half a billion annually. It is a highly capital-intensive business.”

But it all depends upon whether the projects on offer suit the company that reported 66.6 billion euro of revenue in 2016. “It boils down to the quality of projects,” said Malcolm Wrigley, Engie’s India CEO. “If we find projects we are comfortable with, then for sure the money is available.” Read More…

 

 

Credit By: The Economic Times

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