In Short:
Engie plans to double its renewable energy capacity in India to 2.2 GW by 2025 by investing around $870 million. The company has already invested $1.1 billion in India. It is building 4 new projects, totaling 650 MW, and aims to commission them by 2025-2026. Engie targets to increase its capacity to 5 GW by 2030. The company uses technology like GEMS to ensure grid stability.
Engie Doubling Renewable Energy Capacity in India by 2025
Big news from the renewable energy sector in India! Engie is all set to double its Renewable Energy (RE) installed capacity in India to around 2.2 gigawatts (GW) by 2025. This move comes as the Indian arm of the France-based clean energy solutions giant plans to expand its footprint in one of the world’s largest renewable energy markets by investing approximately $870 million, or ₹7,000 crore.
Expanding Presence with New Projects
Engie has been active in India since 2014 and has already invested about $1.1 billion at the current exchange rate. The company’s RE installed base currently stands at 1.1 GW, comprising 800 MW of solar power and 250 MW of wind energy spread across 7 states.
Engie India CEO and Country Manager Amit Jain revealed, “We are building 4 new projects, one of which is already under construction in Gujarat. These projects include a 400 MW project in Gujarat, along with projects for NTPC (300 MW), NHPC (250 MW), and SECI (100 MW).”
Future Plans and Investments
The three new projects with a total capacity of 650 MW are expected to begin construction around the middle or end of 2024, pending the signing of power purchase agreements (PPAs). Jain shared, “We have 1.25 GW in the pipeline and aim to commission them by end-2025 or early-2026, doubling our capacity to about 2.2 GW. This represents a significant investment of around ₹7,000 crore in India by the end of 2025.”
Engie aims to further increase its base to 5 GW by 2030. The parent company, operating in 31 countries with a workforce of more than 96,000 professionals, has an installed renewables base of 41.4 GW and recorded revenues of approximately $102 billion in 2023.
Clean Energy Solutions and Grid Stability
Addressing concerns about grid stability due to the growing renewable energy capacity, Jain emphasized that Engie leverages cutting-edge tech solutions to manage and maintain grid stability. He highlighted the Global Energy Management and Sales (GEMS) system, which helps balance energy requirements and grid operations in high renewable penetration markets.
Engie also commended the government’s efforts to increase energy storage systems like pumped storage projects (PSP) and battery energy storage systems (BESS) for grid balancing. Jain mentioned the importance of a market operator to ensure grid stability, a service that Engie provides to its clients.
Engie aims to be an integrated energy solutions player in India, replicating its success in mature markets worldwide. With a focus on sustainability and innovation, the company is poised to make a significant impact in India’s renewable energy sector.
