ENGIE, STOA tie up to develop wind platform in India
Power firm ENGIE and French infrastructure and power equity investor STOA Wednesday announced a partnership to build a wind energy platform in India with a goal of setting up over 2 GW capacity over the next five years.
"ENGIE, a leading multinational utility company and the largest global independent power producer, and STOA, a French infrastructure and power equity investor in developing countries, announced today a partnership to build a wind platform in India...through a Joint-Venture detained 50/50 by the two entities," a statement said.
The platform has a goal of setting up over 2 GW of wind energy capacity over the next five years. Scope will be both onshore and offshore wind projects under central and select state tenders.
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Earlier this year, ENGIE won a capacity totalling 280 MW in three separate state and central tenders in India. These three projects, which are currently in implementation stage (200 + 50 MW in one location in Tamil Nadu and 30 MW in Gujarat) will form a part of the platform, it said.
Malcolm Wrigley, Country Manager, ENGIE India, said: "Our aim is to respond to the major challenges of the energy transition, in particular in fast-growing countries like India." Matthew Saville, STOA's Managing Director, added: "The Indian renewables sector has seen strong growth and demand for power across the country will continue to increase. Wind power generation today offers a competitive solution to lower average power pool prices. We are delighted to be working with ENGIE to deliver clean and affordable power to the country."
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)