EDF Plans To Set Up 2 GW Renewable Energy Capacity In India

EDF Energies Nouvelles has announced that it sees India as a major renewable energy market for its further expansion.

Talking to an Indian daily, EDF Energies Nouvelles Chief Executive Antoine Cahuzac stated that his company aims to invest US$2 billion in the rapidly growing renewable energy market of India. Cahuzac explained that India matches EDF’s criteria for long-term and aggressive investment.

Tremendous scope for electricity demand remains in India. Additionally, renewable energy capacity still forms a small minority of India’s installed power base and thus large scope of expansion in the solar and wind energy sector remains. India is also blessed with significant solar and wind energy resources. Thus, India is an apt destination for investment by EDF, Cahuzac added.

EDF also stated that it would most likely invest in India as part of a joint venture. Cahuzac stated that several project developers in India have paced very aggressive bids for solar power projects over the last few months. These developers may be bidding keeping in mind the sharp fall in solar module prices and improvement in module efficiency. However, the government must also make sure that these project developers deliver on their projects despite these aggressive bids.

Several foreign investors have been attracted to the Indian renewable energy market due to attractive regulatory and financial environment. India has set a target to have an installed renewable energy capacity of 175 GW by March 2022, including 100 GW solar power and 75 GW wind energy capacity.

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