Power firm ENGIE and French infrastructure and power equity investor STOA Wednesday announced a partnership to build a wind energy platform in India with a goal of setting up over 2 GW capacity over the next five years.
"ENGIE, a leading multinational utility company and the largest global independent power producer, and STOA, a French infrastructure and power equity investor in developing countries, announced today a partnership to build a wind platform in India...through a Joint-Venture detained 50/50 by the two entities," a statement said.
The platform has a goal of setting up over 2 GW of wind energy capacity over the next five years. Scope will be both onshore and offshore wind projects under central and select state tenders.
Malcolm Wrigley, Country Manager, ENGIE India, said: "Our aim is to respond to the major challenges of the energy transition, in particular in fast-growing countries like India."
Matthew Saville, STOA's Managing Director, added: "The Indian renewables 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.
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