In Short : ENGIE is considering the monetization of its Indian renewable energy portfolio. This move aims to optimize the value of its assets, support further investment in renewable projects, and strengthen its position in the Indian energy market.
In Detail : The French energy major currently has a portfolio of over 2.3 GW in India, of which about 1.1 GW is operational and another 1.25 GW is in various stages of development.
French energy major ENGIE is looking to monetize its renewable energy investments in India and is currently in talks to appoint an investment bank to advise it on the process, sources aware of the development.
ENGIE currently has a portfolio of over 2.3 gigawatts (GW) in India. Of this, about 1.1 GW is operational and another 1.25 GW is in various stages of development. ENGIE has had a presence in India for a decade and has invested approximately 1 billion euro in the country so far.
“They are looking to monetize the operational assets, although it is not yet decided on how much of that portfolio they would like to sell. They have been engaged in discussions with investment banks for some time now and are expected to soon appoint one to start the monetization process,” said one of the sources cited above.
ENGIE’s renewable capacity in India is spread across seven states with a mix of solar and wind assets.
The French company has 830 MW of solar and wind projects in Gujarat, 825 MW in Rajasthan, 250 MW in Andhra Pradesh, 220 MW in Tamil Nadu, and other smaller projects in Uttar Pradesh, Punjab and Telangana.
This is not the first asset monetization by ENGIE in India. In 2020, ENGIE sold a 74 percent stake in 12 solar assets, aggregating 813 MW, to Edelweiss-backed funds. This helped ENGIE to reduce its net debt by more than 400 million euros.
