French energy giant Engie's India subsidiary Engie India is investing roughly USD 420 million for 700 MW renewable energy projects in India. The under-construction renewable energy projects are scheduled to be commissioned by 2025.

Engie India has bagged two projects with a total capacity of 700  MW. The 400 MW project is under construction while the 300 MW project is waiting for PPA approval from the NTPC. The 400 MW project with an estimated cost of USD 220 million will be constructed in Gujarat, while the 300 MW project with an estimated cost of USD 180 million will be constructed in Rajasthan.

Earlier the Chief Commercial Officer Naresh Baluja stated that they are planning to bring the GEMS (Global Energy Management Sales) entity to India sometime around 2024. GEMS is an end-to-end one-stop solution for energy trading, for carbon offsets, ammonia, green hydrogen, etc.

About Engie 

Engie is a French multinational utility company that operates across fields such as electricity generation, distribution, natural gas, nuclear energy, renewable energy, and petroleum. The company operates across 27 countries worldwide.

Engie India has been in operation since 2014 after acquiring Solar Direct. The acquisition added 300 MW of operational assets to the portfolio. Currently, Engie India has over 1.1 GW of operational assets all over India.

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