Connect with us

Hi, what are you looking for?


Clean Power

Engie Plans Solar Power Push, Buys Solairedirect For $222 Million

ENGIE-logoFrench every major Engie has acquired solar power projects developer Solairedirect as the former plans a significant push in the solar power market globally.

Solairedirect, also a France-based company, has a healthy solar power capacity under its belt with presence in several countries across the world. Engie, formerly GDF Suez, will pay about $222 million for the acquisition, which also includes $143 million capital increase for Solairdirect.

Solairedirect logoSolairedirect has been actively developing solar power projects with a focus on India and Chile. In India, the company has successfully participated in several central government and state-level competitive auctions. The company also has several small utility-scale solar power projects in France. In total, the company has 486 MW of operational capacity from 57 solar power projects.

Engie seems aimed on significantly increasing its presence in the fast-developing solar power market in India. The company is reported to be in talks to acquire another solar power project developer in India, Kiran Energy. Engie may spend up to $180 million to acquire the project developer, which has more than 80 MW of operational capacity and a majority stake in another solar power joint venture with one of the leading conglomerates in India.

Engie is expected to join several foreign companies to have invested or acquired stakes in Indian renewable energy companies in the last few years. The likes of SunEdison, Enel Green Power, Goldman Sachs, GE Energy Financial Services, International Finance Corporation, and KfW have done so.

Engie is not new to power sector acquisitions in India. In 2013, it acquired a 74% stake in Meenakshi Energy, a thermal power project developer that is working on a 1,000 MW coal-based power plant. Engie is believed to have paid up to $400 million to acquire the stake.

Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Written By

We publish a number of guest posts from experts in a large variety of fields. This is our contributor account for those special people, organizations, agencies, and companies.


You May Also Like


At the coal face of a conference that involved governmental figures, academics, logistics customers and OEMs, the detailed technical conversations are almost all about...


After a very slow start, the Indian battery-electric car market is starting to get exciting. BYD is expanding its presence in the country, shifting...


India’s electric 2-wheeler market has been booming over the last few years. However, the electric car sector has been pretty slow. India’s electric car...

Clean Power

Indian hydropower company SJVN has announced start of construction of a large solar power park in the northern state of Rajasthan.  On January 3rd,...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.