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ENGIE India Secures Financial Closure for 200 MW Solar Project in Gujarat’s Khavda
May 28, 2025
ENGIE India has achieved financial closure for its upcoming 200 MW solar power project in Khavda, Gujarat, through its subsidiary Enren-II Energy. The project, expected to generate 550 GWh annually, has secured funding from MUFG Bank and Credit Agricole Corporate and Investment Bank. This initiative strengthens Gujarat’s position as a solar energy hub, given its favorable solar irradiance and policy support.
With an existing renewable portfolio of 2.3 GW—1.1 GW operational and 1.25 GW under construction—ENGIE plans to scale its capacity in India to 7 GW by 2030. The company already operates eight solar projects in Rajasthan (825 MW) and four solar and wind projects in Gujarat (830 MW).
Earlier milestones include a 400 MW solar project in Surendranagar, Gujarat, financed by the Asian Development Bank, and a 22 MW solar installation in Saudi Arabia for Al Jouf Cement. In March 2024, ENGIE won a 100 MW bid in SECI’s 1,500 MW solar tender (Tranche XIV), quoting Rs2.57/kWh—the lowest tariff. These developments underscore ENGIE’s aggressive expansion in India's renewable sector.