Italy’s Eni is aiming to enter the Indian clean energy space and already has its eye on investments in multi-gigawatt projects.
Eni is said to be exploring the feasibility of participating in India’s clean energy programme and is “studying the build quality of projects, players’ profiles, and the market in India,” according to local news reports.
Eni’s move to explore clean energy opportunities in India comes hot on the heels of other international energy giants that have been expanding their presence in the Indian clean energy space.
Total on Monday entered into a $2.5 billion deal for a 20% stake in India’s Adani Green Energy, one of the world’s most ambitious solar developers.
Total will also get a half share in a 2.35GW operating portfolio and a seat on the Adani Green board as part of the agreement, the latest by the French supermajor as it attempts to turn itself into a top-five global renewable energy player by the end of the decade.
Eni is said to be looking at a multi-GW investment in India that would be central to its plan to increase its renewables global installed capacity to 55GW by 2050, reports added.
Norway’s Equinor, Anglo-Dutch supermajor Shell and Russia’s Rosneft have also shown interest in investing in India’s clean energy sector, Mint, a leading Indian business news daily reported.
Malaysia's Petronas is also looking to invest in Tata Power’s renewable energy infrastructure investment trust, it added.