ENGIE India has achieved financial closure for its 200 MW solar power project located in Khavda, Gujarat. Financial backing has been secured in partnership with MUFG Bank and Credit Agricole Corporate and Investment Bank. The project is being developed through its wholly owned subsidiary, Enren-II Energy. It is expected to generate approximately 550 GWh of electricity annually.
ENGIE India currently has a renewable energy portfolio of 2.3 GW capacity. This includes 1.1 GW of operational capacity spread across seven states and an additional 1.25 GW under construction. Furthermore, the company plans to expand its renewable energy capacity in India to 7 GW by the year 2030.
In August 2024, ENGIE secured Rs 14.6 billion in project finance senior debt from Asian Infrastructure Investment Bank and Asian Development Bank for its 400 MW solar PV project in Gujarat to support its development, construction, operations, and maintenance.
