ENGIE And STOA Form Joint-Venture to Develop Wind Projects in India

The venture aims at building 2 GW of wind energy capacity in the next five years

September 14, 2018


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.

Earlier this year, Engie won a capacity totaling 280 MW. These projects, 200 MW and 50 MW in Tamil Nadu and 30 MW in Gujarat, are currently in the implementation stage. These projects will form a part of the Platform.

“ENGIE is pleased to join forces with STOA to reinforce its commitment to this harmonious progress. Our aim is to respond to the major challenges of the energy transition, in particular in fast-growing countries like India,” said Malcolm Wrigley, country manager at ENGIE India.

Matthew Saville, Managing Director of STOA also stated, “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. We are delighted to be working with ENGIE 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.

Earlier, Mercom reported that  ENGIE recently completed 100 percent acquisition of Fenix International, a next-generation energy company that offers solar home systems (SHS) in Africa.

Recently, technical bids totaling 2,190 MW were submitted by nine project developers for the capacity of 1,200 MW in Solar Energy Corporation of India (SECI)’s Tranche-V interstate transmission system (ISTS)-connected wind tender.

Image credit: GERC