French energy major Engie is set to invest €1 billion (₹9,000 crore) in India during the current fiscal year (FY26), reinforcing its long-term commitment to India’s fast-growing renewable energy sector. The investment is part of the company’s strategy to expand its green energy portfolio to 7 gigawatts (GW) by 2030, said Amit Jain, CEO and Country Manager, Engie India, in an interview with Moneycontrol.
The planned investment will support the development of approximately 1 GW of renewable capacity this fiscal and will be entirely funded through internal accruals. Engie currently has a 2.3 GW renewables portfolio in India, including 1.2 GW of operational capacity spread across 17 sites in seven states.
Pivot to Hybrid and Battery-Backed Projects
Unlike its earlier focus on standalone solar and wind projects, Engie is now pivoting toward hybrid power projects with round-the-clock battery storage solutions. These systems will offer 24/7 clean power to industrial clients, ensuring stability and reliability while lowering carbon footprints.
“We are moving away from pure-play wind or solar. The focus is on hybrid projects that combine solar, wind, and battery storage to cater to high-energy consumers,” said Jain.
Government Auctions and Corporate PPAs
Engie plans to reach its 7 GW target through a mix of:
- Government auctions — via SECI, NTPC, and state discoms
- Corporate power purchase agreements (PPAs) — with large energy consumers
- Merchant power sales — to take advantage of open market trading opportunities
High-consumption sectors like manufacturing, technology (especially data centers), and oil & gas are expected to be the main buyers of Engie’s renewable output.
Engie’s Global Strengths Come to India
Globally, Engie has 46.1 GW of renewable energy assets across Europe, North and South America. The Indian arm will leverage these global partnerships and supply chains to implement cost-effective and efficient projects domestically.
“We will bring our global supplier network and technical expertise to India to ensure high-quality project execution,” Jain said.
Energy Management Through GEMS
To complement its generation assets, Engie has also launched energy supply and management operations in India under its Global Energy Management & Sales (GEMS) division. GEMS helps clients optimise power consumption and reduce costs while navigating India’s complex and changing regulatory landscape.
“Whether it’s banking solar power or managing volatility in supply, GEMS helps clients avoid operational risks and monetise surplus energy through trading or banking,” Jain explained.
Doubling the India Workforce
With this aggressive expansion plan, Engie India also aims to double its workforce, reflecting both the scale and complexity of projects it will undertake over the coming years.
A Strong Push Toward India’s 500 GW Goal
Engie’s investment aligns with India’s national renewable energy mission to reach 500 GW of clean power by 2030. Its push into hybrid and battery-backed projects also supports the government’s focus on round-the-clock renewable power and grid stability.
Expansion into energy management
The company recently launched supply and energy management activities in India through its Global Energy Management & Sales (GEMS) unit. GEMS helps businesses optimise energy supply and consumption to cut costs and meet sustainability goals.
“If you’re generating solar power at, say, 12 o’clock in the afternoon, you either have to consume it or bank it with the discom. But banking regulations vary across states and change frequently, creating uncertainty for both generators and consumers. That’s where GEMS comes in — it takes that risk off the table,” Jain said.
“Globally, whether in the US or Europe, GEMS ensures that if you need 100 units of electricity at noon, we deliver those 100 units. Any surplus we can monetise it by selling it on the exchange to another customer or by banking and selling it later.”
With the expansion in power trading and optimisation, Engie India is also looking to double its workforce, Jain added.
📌 Also Read: India’s Renewable Energy Mission Targets 500 GW by 2030
Disclaimer: This blog post is for informational purposes only. Readers should verify details with official sources and consult energy experts or financial advisors before making any investment or operational decisions.
