French renewable energy major EDF Energies Nouvelles has formed a joint venture with India’s SITAC Group to develop wind farms in India, the companies said in a joint statement.

The joint venture aims to execute four projects totaling 142 mw in 2016, located in Gujarat, the release said. “Renewable energy is not only a financial and environmental success story but it also provides a huge boost to the economy and the PM’s “Make in India” initiative since the entire capital expenditure is procured locally. The JV with EDF enables a long term sustainable model as a utility,” said Malvinder Singh, founder of the SITAC Group and chairman of the JV.

http://economictimes.indiatimes.com/industry/energy/power/edf-energies-sitac-set-up-jv-for-wind-power/articleshow/50932428.cms

About news

We take care of publishing the latest investment news and highlights for Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *