Que: 2023: Unveiling Business Odyssey

Ans: In 2023, ENGIE India witnessed an exciting year marked by significant achievements. Securing nearly 1 gigawatt of renewable projects showcased our commitment to advancing sustainable energy solutions. With our current operational capacity standing at 1.1 gigawatts, the year's success will propel out operational capacity above 2 gigawatts by 2025. These milestones reflect ENGIE’s role in shaping the renewable energy landscape in India. As we reflect on the dynamic developments of 2023, we eagerly anticipate an even more remarkable 2024, where innovation and progress continue to define our journey towards a greener, more sustainable future.

Our last project commissioned was Raghanesda solar plant in Gujarat. We were able to achieve a remarkable capacity of 200 MW with exceeding our budgeted availability targets, this solar plant continues to illuminate the path towards cleaner energy solutions. It brings us immense pride to share that the site has consistently earned recognition of being one of the best performing sites in India, within the 200 MW category, underscoring our unwavering commitment to excellence.

Safety remains at the forefront of our priorities, and we are thrilled to announce that we have reached an impressive 2.25 MN man-hours without any LTA, demonstrating our dedication to a secure working environment.

Serving communities where we operate by providing employment to 80 percent of locals on the project site, our team at site is engaged in CSR activities like tree plantation, seed spreading, providing clean water, supporting education, and distributing (essentials) to locals, thereby fostering sustainable growth and development in nearby villages.

Que: 2024: Unlocking New Horizons

Ans: Our group has a target to achieve COD of 4 GW RE capacity each year till 2025 and 6 GW RE capacity each year. Hence, India would be among the key countries for the group, among other key countries, given that the scale India can offer, while still providing an opportunity to be selective in the auctions. As of now, we have close to 1 GW of projects under construction, which are planned to get commissioned by mid-2024 for 400 MW and rest by Q3 2025.

Que: Navigating Growth: Ushering in New Trends

Ans: The future of the Indian solar industry looks promising. From ENGIE’s perspective, India continues to be the focus for the group for growth, with the government commitment to have 500 GW installed capacity by 2030; we are excited and look forward to more opportunities and new avenues for growth in the solar segment while exploring newer technologies such as hybrid and battery storage. The trends driving the growth will be increasing concerns about climate change, increasing electricity demand with a CAGR OF 6-7 percent till 2030, government push and obligation for RE power, policy reforms and industries willing to go green decarbonisation.