The MoU, expected to create 14,000 new jobs, involves a substantial investment of Rs 17,200 crore.
ENGIE, a leading low-carbon energy generation company, has entered into a partnership with the Government of Gujarat, India. A memorandum of understanding (MoU) was signed during the 10th edition of the Vibrant Gujarat Global Summit. This collaboration represents a major step in Gujarat’s clean energy transition and aims to boost the renewable energy infrastructure in the state.
ENGIE has committed to developing 2.5 GW of renewable energy projects in Gujarat by 2030. This is in addition to the 400 MW solar project already underway in Surendernagar.
The MoU involves a substantial investment of Rs 17,200 crore. It is expected to create 14,000 new jobs, thereby significantly contributing to the socio-economic development of Gujarat.
The partnership is not limited to renewable energy projects but also includes comprehensive decarbonization initiatives, furthering the state’s and India’s environmental objectives. It extends to building capacity in Gas/LNG trading risk management, which is a crucial aspect of modern energy markets.
ENGIE is exploring the potential for centralizing its treasury activities in India at GIFT City, Gujarat. This move could further integrate ENGIE’s operations within the Indian market. ENGIE supplies electricity in 27 countries in Europe and 48 countries worldwide.
Gujarat’s initiative, supported by ENGIE, positions the state as a leader in India’s energy transition towards low-carbon and renewable sources. The partnership is seen as a catalyst for advancing sustainable and clean energy initiatives. It is strategically aligned with India’s ambitious energy transition goals.