Engie, the French energy company based in Courbevoie, France, plans to invest $3.4 billion in India by 2030 to grow its renewable energy portfolio from two gigawatts to seven gigawatts.
Chief Executive Catherine MacGregor described the plan in an interview with The Economic Times. Engie will add one gigawatt a year on average across renewable energy projects, battery storage and emerging opportunities in data centers. The two gigawatts it holds today count projects in operation and under construction.
MacGregor said the investment could come from a mix of debt and equity, which the company is working out. Engie has also applied to set up a treasury operation at GIFT City in Gujarat, in western India, to help finance its projects. It is open to acquisitions as well as building its own projects.
MacGregor named two obstacles. One is grid connections. “Sometimes our projects are ready but are waiting for connectivity,” she said. The other is access to land. She said pairing solar plants with battery storage, and the government’s push for storage, can ease congestion on the grid during the hours when solar plants generate power.
India is a medium-sized market for Engie today. Its largest markets include France, the United Kingdom, Belgium and Brazil. One gigawatt a year would be significant next to Engie’s global annual additions, MacGregor said. “Our ambition is to bring India into the group of our leading markets.”
Last updated: October 30th, 2026
