ENGIE, a global independent power producer (IPP), and STOA, a French infrastructure and investment firm, have announced a joint-venture (JV) to build a wind platform in India.
The platform, with 50-50 partnership, has set a goal of establishing over 2 GW of wind energy capacity in the next five years. It will try to build both onshore and offshore wind projects under central and select state tenders.
The Indian renewable 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. STOA and ENGIE plan to deliver clean and affordable power to the country.
The ENGIE Group is the largest independent electricity producer in the world with 101.8 GW of installed capacity, of which 24 percent is from renewables. In India, it has an installed capacity of 810 MWp in solar power.
Reference- TOI, Mercom India