French multinational electric utility company ENGIE has selected Kotak Mahindra Bank, one of India’s leading financial institutions, to help identify potential joint venture partners for its solar energy business in the country.
As part of its efforts to expand its renewable energy portfolio in India, ENGIE aims to create a joint venture that will focus on developing, constructing, and operating solar projects in the country. Kotak Mahindra Bank has been tasked with identifying potential partners that can bring expertise, resources, and market knowledge to the joint venture.
India has set an ambitious target of achieving 450 GW of renewable energy capacity by 2030, with solar energy playing a critical role in achieving this goal. With its vast experience in the renewable energy sector, ENGIE is well-positioned to contribute to India’s efforts to transition towards a more sustainable energy future.
The partnership with Kotak Mahindra Bank is expected to accelerate ENGIE’s solar expansion plans in India and help it tap into the country’s growing renewable energy market. The joint venture is expected to bring in significant investments and create job opportunities in the renewable energy sector, contributing to India’s economic growth.
ENGIE and Kotak Mahindra Bank have expressed their commitment to finding the right partner for the joint venture, one that shares their vision and values and is dedicated to promoting sustainable energy practices in India.