ENGIE Allocates Rs 17,200 Crore to Invest in Gujarat

0
Engie-Gujarat

ENGIE, a player in low-carbon energy generation, has recently undertaken an investment initiative of INR 17,200 crore, equivalent to over $2 billion, directed towards advancing decarbonization and fostering renewable energy projects within the state of Gujarat. This strategic initiative has been formalized through the signing of a memorandum of understanding (MoU) with the government of Gujarat, symbolizing a pivotal partnership for concerted endeavors in the realm of clean energy transition.

Amit-Jain
Amit Jain, Country Manager of ENGIE India (Image Credits: Amit Jain/LinkedIn)

ENGIE, an energy and services company, works in sustainable solutions for a carbon-neutral world. Operating in over 70 countries, ENGIE focuses on providing clean energy, efficient technologies, and innovative services. With a vision of decarbonization and digital transformation, the company leads in renewable energy, energy efficiency, and green mobility. ENGIE’s diverse portfolio spans electricity, natural gas, and energy services, aligning with its vision to shape the future of energy. Through innovation and collaboration, Engie strives to create a more sustainable and resilient energy landscape for communities worldwide.

Under the memorandum of understanding (MoU) between ENGIE and the Government of Gujarat, Engie has undertaken a pledge to initiate the greenfield development of 2.5 gigawatts (GW) worth of renewable energy projects spread across diverse locations in Gujarat by the year 2030. This commitment supplements its existing endeavors, including the ongoing progress of a substantial 400-megawatt (MW) solar project situated in Surendernagar.

The collaborative partnership goes beyond the realm of renewable energy, incorporating joint endeavors in initiatives aimed at decarbonization, the enhancement of risk management capacities for gas/LNG trading, and the investigation of possibilities surrounding the centralization of Engie’s treasury operations in India, specifically within the ambit of GIFT City (Gujarat International Finance Tec-City).

Amit Jain, Country Manager of ENGIE India, conveyed that the strategic cooperation signifies their strong commitment to advancing sustainable energy solutions. They expressed their goal to play a significant role in advancing the renewable energy sector in the state of Gujarat, thus making substantial contributions to India’s overarching clean energy objectives, through this collaboration with the Government of Gujarat.

Bhupendra Patel, the Chief Minister of Gujarat, has recognized the contributions made by ENGIE, focusing on the state’s mission of advancing renewable energy initiatives. Articulating a vision that looks to the future, Mr Patel has laid out multiple goals, aiming to achieve a substantial 2.5 GW capacity by the year 2030. Additionally, the agreement is also set to generate a commendable 14,000 new jobs, showcasing ENGIE India’s robust vision to foster socio-economic development within the region.

LEAVE A REPLY

Please enter your comment!
Please enter your name here