Suzlon Energy's CEO lauds India's energy transformation: "extraordinary progress compared to preceding years"
Suzlon Energy, a pioneering renewable energy company based in India, is seeing increased interest from institutional investors. This is a testament to the growing recognition of India's energy transition as a lucrative investment opportunity.
Established in 1995, Suzlon Energy has developed some of India's largest onshore wind farms, boasting a total installed capacity of over 14,720 MW. The company's CEO, J.P. Chalasani, recently shared his views on India's energy transition during the Australia - India Renewables Dialogue in Sydney.
Notably, the Norwegian pension fund KLP, in partnership with the Norwegian Climate Investment fund, recently funded a 168 MW wind project in the state of Gujarat. This investment is one of several instances where asset owners have increased their exposure to renewable energy assets in India over the past few years.
Similarly, the Canada Pension Plan Investment Board made an investment in a 1.2 GW pipeline of solar and wind projects, scheduled for commissioning in 2025. These renewable energy assets are contributing significantly to India's net zero ambition.
Despite the growing interest, as of the latest available information, institutional investors hold a minority stake in Suzlon Energy, reflecting a cautious but growing interest in the company's renewable energy projects.
The Australia - India Renewables Dialogue, organised by the Australia India Institute, did not seem to involve any new investments or partnerships for Suzlon Energy. However, the dialogue underscores the increasing collaboration between Australia and India in the renewable energy sector.
As India continues to transition its energy sector towards renewables, it is clear that both domestic and international investors see promising opportunities in the country's renewable energy landscape.
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