Solar Project in India Awarded to ENGIE

La Défense, France, 19-Apr-2017 — /EuropaWire/ — Following a very competitive bid in India, ENGIE – through its subsidiary Solairedirect India – was awarded yesterday a solar project of a total capacity of 338 MWp ^[1]. ENGIE proposed the most competitive offer with a price of INR 3.15/kWh (approx. USD 48.7/MWh). The solar park, named NTPC Kadapa will be built in the State of Andhra Pradesh, in the South of India, operating as of mid-2018.

This tender has been subject to both fast and highly competitive bidding processes with the participation of 7 Indian and international contractors; it illustrates also the sharp drop in prices of solar energy in India.

The bid is part of the National Solar Mission – Phase II, a program launched by the Indian State in 2010 to develop solar generation widely and reach 100 GW of solar capacity by 2022.

With this project, ENGIE will reach a total capacity of 810 MWp in India and strengthens its leading position of a major player in competitive solar. The Group employs around 560 people in the country, in power generation, engineering and energy services.

[1] MWp: Megawatt peak, measuring unit for the maximum output of a photovoltaic power plant.

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 153,090 people worldwide and achieved revenues of €66.6 billion in 2016. 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 (World 120, Eurozone 120, Europe 120 and France 20).

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SOURCE: Engie