Chinese Company to Invest USD 3 Bln in Indian Offshore Wind
Indian renewable energy sector will see USD 3 billion being invested from 2016 to 2020 by a Chinese manufacturer of construction equipment, Sany Group. The company said it will establish efficient technologies for offshore wind power generation and aims to develop 2,000MW of renewable energy projects in India.
Sany Group said it plans to generate 4.8 TWh of clean power a year and create 1,000 jobs, by bringing in the relevant expertise, operational excellence and global best practices for development of renewable energy in India. The company presented the Green Energy Commitment to the Prime Minister of India Narendra Modi.
Sany Group Chairman Liang Wengen said: “This investment is a significant step in deepening Sany Group’s presence and commitment to India. Green energy industry in India is growing and we see this as a huge opportunity to introduce our wind energy business in the country.”
“We have invested in a potential market like India, and are excited about the future growth and potential for future investment. We believe that the agreement signing with Indian new energy enterprise will boost the mutual cooperation to a new height.”
Source: Sany Group