Abraaj Group and ENGIE to develop wind power platform in India
Staff Writer |
The Abraaj Group and ENGIE announced a partnership to build a wind platform in India.
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Together, Abraaj and ENGIE have identified a robust pipeline of wind power projects representing over 1 GW in several key states.
By leveraging Abraaj’s clean energy sector expertise and ENGIE’s operational experience, the partnership will address a large and growing demand for clean energy from the Indian Government as well as businesses in India.
The Indian renewable energy sector continues to grow rapidly, underpinned by an increasing demand for power.
Power consumption in India is expected to grow at 9% year-on-year until 2020.
The Indian government’s target of 60 GW of wind power capacity by 2022 will require a near doubling of the current installed capacity of 32 GW over the next five years.
The Abraaj Group has comprehensive investment experience in the energy sector and has invested over $1 billion in 10 projects globally.
In 2015, Abraaj partnered with the Aditya Birla Group to build a 1 GW scale solar energy platform in India, and in 2017, acquired a majority stake in Jhimpir Power, a 50 megawatt wind power project in the Jhimpir wind corridor in Southeast Pakistan.
The ENGIE Group is the largest independent electricity producer in the world with 112.7 GW of installed capacity, of which 20% is from renewables.
The development of wind power projects is one of ENGIE’s priorities. It is now the largest wind power producer in France and Belgium and an international leader with 4,553 MW installed throughout the world. ■
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