Chinese construction equipment manufacturer Sany Group is to invest $3bn to develop 2GW of renewable energy projects off India over 2016-2020.
The projects will generate 4.8TWh of electricity a year and create 1000 jobs.
Sany said it will “establish efficient technologies for offshore wind power generation”.
Sany Group chairman Liang Wengen said: “This investment is a significant step in deepening Sany Group’s presence and commitment to India.
“Green energy industry in India is growing and we see this as a huge opportunity to introduce our wind energy business in the country.
“We have invested in a potential market like India, and are excited about the future growth and potential for future investment. We believe that the agreement signing with Indian new energy enterprise will boost the mutual cooperation to a new height.”
Image: reNEWS
