Singapore’s Sembcorp To Develop 1 GW Wind Energy Project In India
Foreign interest in India’s budding renewable energy market continues to increase with new companies looking to set up large-scale projects in the country.
Recently, the government of the state of Madhya Pradesh recently signed a memorandum of understanding with Singapore-based Sembcorp Green Infra for the development of 1 GW wind energy capacity.
The Ministry of New and Renewable Energy has signed the agreement with the company on behalf of the state government. While the details of the agreement or the timeline of its implementation are not known, the size of the capacity addition is expected to be huge.
Madhya Pradesh is among the leading states in terms of installed wind energy capacity in India and is expected to see significant growth in its installed capacity over the next few years. According to the Ministry of New & Renewable Energy of the central government, Madhya Pradesh may add 6.2 GW of wind energy capacity as its contribution to the 60 GW installed wind energy capacity target for 2022.
The improved policy and economic environment in India has attracted several international investors to the renewable energy market. The likes of Goldman Sachs, GE Energy Financial Services, Global Environment Fund, and Abu Dhabi Investment Authority have invested in Indian renewable energy companies over the last few months.
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