The Abraaj Group (an investor operating in growth markets) (www.abraaj.com) and Engie (a multi-national utility company) (www.engie.com) have announced a partnership to build a wind ‘platform’ in India.

Together, they have identified a “robust pipeline of wind-power projects of over 1GW” in several key states.

Power consumption in India is expected to grow by 9% every year until 2020. The Indian government’s target of 60GW of wind power capacity by 2022 will require a near doubling of the current installed capacity of 32GW over the next five years.

Saad Zaman, partner at the Abraaj Group, said: “Buoyed by a strong regulatory framework, the renewables sector is a significant long-term sustainable investment opportunity for Abraaj.

"Wind-power generation is today approaching grid parity, and it offers a competitive solution to reduce average ‘power pool’ prices.

“There is a real chance to boost renewable-energy generation in India, and we are delighted to be working with Engie to deliver affordable and clean power to the country.”

Sébastien Arbola — CEO of Engie Middle East, South & Central Asia, and Turkey — added: “Energy demand is growing tremendously in India, and Engie is investing in ‘green’ energy sources as part of supporting the country with its sustainable development plans.

“Indeed, the new platform will be fully in line with our commitment of providing clean and renewable energy for all.”