Discover ENGIE activities in India
Although the Indian economy is growing at a record pace, many people still have no access to energy. The Indian government is responding to this major challenge with a commitment to bring electricity to every village by May 2018. As part of supporting the country with its sustainable development plans, ENGIE is investing in new energy sources, with particular emphasis on solar power.
An electricity supply for 100% of villages: the measure introduced by the Indian Finance Minister aims to make work easier for farmers and boost their incomes. It will also enable the most vulnerable in society to live a more comfortable life. From its base on the subcontinent, ENGIE has been supporting these efforts for several years.
India's energy transition is a direct response to rising demand
The Indian economy is now growing at an annual rate of 7%, which is driving up demand for energy resources. Although its energy consumption is still based largely on fossil fuels, an increasing number of initiatives now under development are favoring renewables in accordance with the Indian government's goal of accelerating its energy transition.
It is in this strategic sector of green energy that ENGIE has based its presence in the country. At the beginning of this year, the Group won the contract to build two 70 MW solar power plants in the State of Rajasthan via its subsidiary company Solairedirect. This new contract confirms the status of ENGIE as a major force in the Indian solar power market, with a total installed capacity of 325.6 MW.
The Indian Prime Minister Narendra Modi was also present at the end of last year when the Group launched the Terrawatt project to develop affordable solar power on a global scale.
Demand for natural gas in India is expected to more than double to 51 million m³ per day by 2021/22. Forecasts also point to a sharp rise in LNG imports from 44.6 million m³ per day in 2012/13 to 214 million m³ per day by 2029/30. ENGIE is one of the key strategic stakeholders and investors in Petronet LNG, the company that owns India's first LNG terminal. ENGIE is also a contributor to the Kakinda LNG project in Andhra Pradesh. This project aims to develop facilities alongside AP Gas Distribution Corporation Ltd (APGDC) and Shell in the port of Kakinda in order to enable ENGIE, GAIL and Shell to import and sell regasified LNG (RLNG) into the expanding regional market for energy.
As part of reducing its own carbon footprint, ENGIE will sell its entire holding in Meenakshi Energy (0.3 GW installed capacity and 0.7 GW under construction) in Andhra Pradesh to India Power Corporation Limited; an Indian National Stock Exchange listed company. The deal is expected to be finalized in the first half of this year, following regulatory approval.
Socially supportive initiatives at local level
Working through its ENGIE Rassembleurs d’Énergie investment fund, the Group is also supporting citizen-focused initiatives in India to provide local-level help for people to obtain responsibly-generated and eco-friendly energy.
Ever since 2014, ENGIE has invested in supporting the Simpa networks social enterprise, which provides personal photovoltaic systems to the poorest residents of Delhi and its surrounding region.
The investment fund also supports Green Village Ventures, which promotes access to energy through the provision of solar power kits for rural communities in the states of Maharashtra, Uttar Pradesh and Tamil Nadu.