ENGIE has been awarded a 75 MW Indian solar power project in conjunction with a new National Solar Mission tender offer, covering 420MW of total capacity. This is the Group’s first project in the State of Uttar Pradesh. Start of construction is scheduled for November 2016.
This project receives financial aid amounting to 7 425 000 rupees/MW or about 0,11 USD/W and will have a price to 4.43 rupees/kWh for 25 years, about 67 USD / MWh.
ENGIE confirms its pioneer role in India and its position as a major player in solar energy in the Indian market, with a total capacity of over 450 MW of solar energy in four states: Rajasthan, Telangana, Pendjab and Uttar Pradesh.
This commitment reflects dynamism in the Indian market sustained by an ambitious development objective of 100 GW of solar power capacity by 2022. As of now, the National Solar Mission has awarded 3,700 MW through tender offers.
The ENGIE Group is also present in India through its energy services and gas infrastructure activities.
In addition, through its subsidiary Solairedirect, ENGIE has been awarded a 23 MW solar power project in Mexico. With a competitive tariff of 48 USD/MWh, this project is the only one awarded in Baja California in conjunction with a highly competitive call for tenders (offers received were 15 times the total number of MWh awarded). The occasion was the first long-term nationwide electricity procurement tender offer, whose purpose is to meet the country’s accelerating renewable energy goals for the country’s energy mix – 25% in 2018 and 60% by 2050. The Baja California and northwest regions of the country are expected to concentrate about 65% of solar energy production.
In Mexico, ENGIE offers an entire range of energy businesses, including power generation and cogeneration, natural gas distribution and transmission and providing energy services to businesses, industry, and individuals.
With this new project in Mexico, ENGIE is continuing its solar power developments in Latin America. Through its subsidiary companies the Group already operates two solar power installations in Chile and builds a third one for a total of 55,3 MW. He is also present in Panama (21 MW). These successes follow on the 230 MW bid won in November 2015 jointly by its subsidiaires Tractebel Energia and Solairedirect in Brazil and the 40 MW won by Solairedirect in Peru in March.
The India and Mexico successes perfectly reflect the Group’s goal to be world’s energy transition leader. Along with its energy services and natural gas value chain activities, the development of renewable energies, and in particular solar power, is one of ENGIE’s strategic priorities.
About ENGIE
ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation, and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 154,950 people worldwide and achieved revenues of €69.9 billion in 2015. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (Eurozone 120, Europe 120 and France 20).
About Solairedirect
Solairedirect is a solar power company operating across four continents. The company was founded in 2006 with the mission of making solar power more competitive than other energy sources. Solairedirect has developed a distinctive scalable business model as a 100% solar power company with the aim of creating value all along the value chain from development to construction, services and investment. Solairedirect had revenues of €172m in the fiscal year ended March 31, 2015.
