Engie Plans Major Expansion in India’s Renewable Energy Sector
French energy company Engie is looking to expand its presence in India, focusing on renewable energy and battery storage projects. The company considers India a key investment destination following recent market reforms, including the introduction of a power exchange and approval of financial hedging options.
Engie has recently completed the development of 450 MW of solar capacity across two projects in India. It currently has 2 GW of solar and wind capacity either operational or under development in the country. The company aims to increase this capacity to 7 GW by 2030, with battery storage also included in its expansion plans.
India’s target of developing 500 GW of non-fossil fuel energy capacity by 2030 and its plan to attract $220 billion in clean energy investments over the next three years present significant opportunities. However, challenges such as limited transmission infrastructure and renewable power curtailments remain. Engie believes these issues could be temporary as infrastructure development catches up with renewable energy expansion.
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