Sany Group Invest $3 Billion in Renewable Energy Industry in India

China's construction equipment manufacturer Sany Group today said it will invest USD 3 billion to develop 2,000 MW of renewable energy projects in India.

The group today announced the signing and handover of Green Energy Commitment to Prime Minister Narendra Modi towards development of 2,000 MW of renewable energy projects with investments of USD 3 billion for the period 2016-2020. Besides generating 4.8 TWh (terawatt-hours) of green and clean power annually, these projects will also create 1,000 jobs and prevent carbon emissions of around 3.6 million tonnes per year.

Sany will establish efficient technologies for offshore wind power generation, said in the statement. It will bring in relevant expertise and global best practical experience for the development of renewable energy in India.

Commenting on the announcement, the president of Sany Group 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 fast and we see this as a huge opportunity to introduce our wind energy business into the country." "We have invested in a potential market, and are excited about the future growth and potential of our investment. We believe that the agreement signing with Indian new energy enterprise will boost the mutual cooperation of the two sides to a new height."